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China, Nigeria Trade Value Hit N7.4trn as at June– V-P Shettima

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Vice-President Kashim Shettima says Nigeria-China trade value has hit N7.38 trillion as at June.

Shettima said this at the China-Africa Interbank Association Forum (CAIBA) 2024 in Abuja on Wednesday organised by First Bank Plc.

The vice-president, represented by Dr Aliyu Modibbo, the Special Adviser to the President, General Duty, said that China remained the country’s number one trading partner.

According to him, this underscores the importance of deepening our bilateral relationship with China, especially within the realm of financial and banking systems.

”Nigeria remains committed to its alliances with those who have our best interests at heart and are willing to support our growth and development in a transparent and systematic manner.

”I am especially delighted that our financial institutions are at the forefront of this intervention for development.

”I would like to commend First Bank of Nigeria Limited for leading the charge in fostering stronger banking and financial collaborations between African banks and the China Development Bank.

”The promise shown by all stakeholders is highly encouraging, and we are determined to ensure that this collaboration continues to thrive,” he said.

Mr Olusegun Alebiosu, the Chief Executive Officer (CEO) of First Bank Plc, said the CAIBA journey began in Sept. 2018 when the China Development Bank and 15 African Banks entered into a strategic partnership to deepen the China-Africa cooperation.

Alebiosu said that CAIBA platform was one that emerged in recognition of the growing trade, investments and developmental ties between China and the African Continent.

The CEO said the theme of this year’s forum: ‘Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialisation and Economic Diversification’, underscored the need for stronger partnership between Africa and China.

He said the partnership would help to drive further improvements in trade and the overall socio-economic transformation of the two regions.

”I urge all participants, especially members of CAIBA to rededicate ourselves to the ideals and goals that the association seeks to achieve.

”This can be done by exploring innovative ways to reduce and eliminate existing barriers to the flow of trade and investments between Africa and China.

”At First Bank, we are also poised to double-down on our coverage of the Chinese market through expansion of our business presence beyond Beijing to other important commercial centres in China, including Guangdong and Shanghai,” he said.

Mr Wang Weidong, the Vice-President of China Development Bank (CDB), said the bank would continue to utilise a special loan from African Small and Medium Enterprises (SMEs).

The aim according to him, is to enhance knowledge sharing and technology transport to promote Africa’s industrialisation and economic diversification.

Weidong said the bank would use various ways, including significant loans, on-demand equity investments, and tripartite cooperation to support Africa’s industrialisation.

Mr Joseph Tegbe, the Director-General of the Nigeria-China Strategic Partnership said that economic diversification was key to development.

Tegbe said that African countries should prioritise the processing of their raw materials to sustainable development.

Dr Adetona Adedeji, the Director, Bank Supervision, Central Bank of Nigeria (CBN), said the Bank would support the banks in making the collaboration between Africa-China to work better.

The forum attracted bank executives from across Africa. (NAN)

Foreign News

Huawei to Launch 1st HarmonyOS-Powered PCs on May 19

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Chinese tech giant Huawei on Thursday said that the first line of its personal computers (PCs) powered by HarmonyOS operating system would be launched on May 19.

The upcoming release would mark a significant expansion of Huawei’s HarmonyOS ecosystem, which already powers its smartphones and tablets.

By launching computers equipped with the country’s first homegrown operating system for the general public, Huawei seeks to challenge the long-standing dominance of Microsoft’s Windows and Apple’s macOS in the PC market.

Huawei’s HarmonyOS-powered computers are the result of five years of research and development.

The company emphasised that the system incorporates strong security features, including a dedicated security chip for encryption, secure access mechanisms and encrypted data sharing.

“The new computers would enable seamless interaction across Huawei devices, allowing users to control and move between the screens of their phones, tablets and computers with a keyboard and mouse.

“HarmonyOS-powered computers support connectivity with over 1,000 external devices and currently have more than 150 dedicated PC applications and over 300 ecosystem-compatible applications,” it said.

HarmonyOS, or Hongmeng in Chinese, is an open-source operating system designed for various devices and scenarios, including intelligent screens, tablets, wearables and cars.

It was first launched in August 2019.

Analysts said that Huawei would have to work harder to attract users in the initial periods, as the mainstream Windows and macOS operating systems offer more mature applications. (Xinhua/NAN)

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General News

VON DG Seeks Partnership With NGE to Fight Fake News, Misinformation

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 The Director-General of Voice of Nigeria (VON), Malam Jibrin Ndace, has sought for partnership with the Nigerian Guild of Editors (NGE) to fight against fake news, misinformation and to project the interest of Nigeria.

Ndace spoke in Abuja on Wednesday, in his welcome remarks to some members of the Guild who were in the VON premises for a meeting.

According to him, it is the responsibility of VON to correct all negative perceptions and deliberate falsehood about Nigeria and Africa by foreign media.

“Interestly,  the NGE shares similar role with VON. Like VON,  the Guild also has had to contend with other news services. It is important and imperative to take seriously its gate keeping function.

“VON and the Guild must work together to ensure we carry out our mandates free from ethnocentric or religious bias, but always in the interest of the country.

“We therefore seek to partner with the Guild in this respect, particularly to ensure that we curb the menace of fake news by always being  ahead whenever the news breaks.

“And also,  to respond timely to counter purveyors of fake news. We would happily serve as a source of contents in areas you determine relevant to your mandate,” Ndace said.

The VON boss further explained that his agency would work diligently to make sure every Nigerian feels the impact of the government by tracking the pace of service delivery across all sectors.

Speaking earlier, a member of the NGE team, Mr Adebayo Bodunrin, said the Guild members usually hold periodic meetings in the zone, and the one being held in the VON office was one of such, ahead of the forthcoming National Convention of the editors’ professional body.

“Today, NGE has what I would call a friendly constitution that satisfies the yearnings and aspirations of its members.

“Thank you for hosting us and we can assure you that we are not like a political party. We usually don’t have rancorous meetings. Our meetings are friendly,” Bodunirin said. (NAN)

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NEWS

KASU ASUU Strike Unnecessary – Students

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A group of students under the auspices of Concerned Kaduna State Students, says the ongoing strike by the Academic Staff Union of Universities (ASUU),Kaduna State University (KASU), is unnecessary.In a statement on Wednesday in Kaduna by the group’s Public Relations Officer (PRO), Mr Yunus Haruna, the students expressed disappointment over the support of other Students’ leaders for the strike.

Haruna decried that the students’ leaders were being used by some agents against their lecturers who were fighting for the collective good of members and students.
“The KASU-ASUU strike is unnecessary.“However, the decision to embark on the strike was reached after exhausting all industrial options and the failure of the government to honor agreements,”he said.
Haruna said the agreements not honoured by the government included the non-payment of withheld salaries from May to September 2022.Others included the non-payment of earned academic allowances from 2016 to date, promotion arrears, and pension funds from 2009 to 2019.“Other issues included non-payment of group life assurance and violation of university autonomy, among others,” he said.Haruna urged the government to immediately address the contentious issues.He also called on the civil societies to prevail on Gov. Uba Sani to address the crisis, prioritise the welfare of the lecturers and the academic future of the students.“Education is a social right, not a privilege, so addressing the lecturers’ legitimate demands is necessary for the future of Kaduna State“The integrity of the educational institutions must be protected and the government should prioritise quality education and the welfare of university lecturers,”he said.(NAN)

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