The African Export-Import Bank (Afreximbank) said its African Sub-Sovereign Governments Network (AFSNET) has facilitated investment opportunities worth more than three billion dollars across 21 African countries, including Nigeria, in five years.

Director of Trade Facilitation and Investment Promotion at Afreximbank, Gainmore Zanamwe, disclosed this on Thursday in Calabar during a news conference at the sixth edition of the AFSNET platform.

Zanamwe said the initiative had also trained more than 2,000 people in investment promotion, entrepreneurship and project development to strengthen their capacity to identify opportunities and attract financing.

He explained that the platform was established in 2021 to extend Afreximbank’s development interventions beyond national governments to states and other sub-national authorities.

According to him, the initiative seeks to connect entrepreneurs, investors and financial institutions while enabling states to maximise opportunities in agriculture, manufacturing, tourism and the creative industry.

He said the platform was also designed to ensure that young African entrepreneurs benefited from opportunities created by the African Continental Free Trade Area (AfCFTA).

Zanamwe explained that although AfCFTA was negotiated by national governments, sub-national authorities and businesses needed to understood its provisions and position themselves to benefit from emerging continental markets.

He said the initiative was helping businesses identify investment opportunities, develop bankable projects and access potential investors beyond their immediate environments.

He added that Nigerian entrepreneurs could explore markets in countries such as South Africa and Ghana, as well as other destinations across the continent.

The director said Afreximbank was targeting all 55 African countries but prioritising those requiring technical support to develop their investment promotion capacity.

He disclosed that the bank had also committed a two-billion-dollar facility under the initiative to support agricultural production, processing and exports.

“Some people say funding is a problem. From Afreximbank, we say no. The two billion is there.

“We have this facility ready to finance projects. We will be showing you how you can tap into the two billion to do your projects,” he said.

Zanamwe urged state governments to develop clear investment visions, identify priority projects and package them appropriately to attract investors and financial institutions.

He said Afreximbank was also strengthening state investment promotion agencies through training in project identification, development and investment readiness.

According to him, the platform will promote African Direct Investments by encouraging investors within the continent to finance viable projects in other African countries.

He said the sixth edition of the network would also prepare Nigerian businesses and investment institutions for the next Intra-African Trade Fair, scheduled to hold in Lagos between from Nov. 5 and Nov. 11, 2027.

Zanamwe said the broader objective was to stimulate intra-African trade, promote industrialisation and create decent employment opportunities, particularly for young people across the continent.

He expressed optimism that the engagement would strengthen collaboration among governments, entrepreneurs, investment promotion agencies and financial institutions.

This year’s AFSNET edition is holding in Calabar between Thursday and Sunday. (NAN)

Trade between Nigeria and China rose by 35 per cent to $17.4bn in the first half of 2026, with Nigeria’s exports to the Asian country increasing by 81 per cent to $2.25bn, the Director of the China Cultural Centre in Nigeria, Yang Jianxing, has said.

Yang disclosed this on Thursday at the launch of the Mandarin Service of the Voice of Nigeria and the celebration of the China-Nigeria Bridge Chinese Radio Programme in Abuja.

He said the figures reflected growing economic cooperation between both countries, adding that China’s zero-tariff policy for 53 African countries, including Nigeria, had created fresh opportunities for increased exports to the Chinese market.

According to him, China-Africa trade exceeded `$207.4bn in the first half of 2026, setting a record for the period.

He added that China’s imports from Africa reached $28.5bn between May and June, representing a 23.5 per cent increase year-on-year.

Yang said imports of African aquatic products, textile raw materials and specialty fruits recorded double-digit growth, while the zero-tariff policy had contributed to an estimated six per cent increase in overall African exports to China.

“Nigeria’s performance has been particularly impressive. In the first half of this year, bilateral trade between China and Nigeria reached 17.4 billion US dollars, up 35 percent year on year.

“China’s imports from Nigeria amounted to 2.25 billion US dollars, representing a remarkable increase of 81 percent,” he said.

The China Cultural Centre director also disclosed that imports from Nigeria recorded year-on-year growth of more than 40 per cent in May and June.

He said the developments presented opportunities for Nigeria and other African countries to expand their exports, particularly agricultural produce, raw materials and other specialised products.

Yang also highlighted China’s proposed principles for cooperation with Africa in the mining sector, including respect for African countries’ sovereignty over their natural resources, mutual benefit, high-quality development and a fair and open investment environment.

On security, he said Chinese President Xi Jinping had outlined four principles for addressing regional conflicts in Africa.

They include an African-led approach, fairness and justice, ending hostilities and pursuing peace, as well as addressing both the symptoms and root causes of conflicts.

Yang said the principles demonstrated China’s commitment to respecting African countries’ right to determine their development priorities.

Speaking on the launch, Yang said the China-Nigeria Bridge radio programme, launched on September 2, had broadcast 10 episodes, attracting appreciation from listeners across Africa.

The programme, jointly initiated by the Chinese Embassy, Xinhua News Agency Africa Regional Bureau and VON, with the China Cultural Centre as a supporting partner, combines Chinese language lessons with reports on China-Africa cooperation.

Yang described it as a platform for promoting cultural understanding and strengthening people-to-people relations between China and African countries.

From Sylvia Udegbunam Enugu

The University of Nigeria, Nsukka (UNN), has been thrown into mourning following the deaths of four students after an off-campus gathering at Hilltop Hostel, Nsukka, with six others hospitalised in an incident that has sparked widespread concern across the university community.

The incident, which reportedly occurred on November 11, 2026, during an alleged academic sign-out celebration, involved 10 students who had gathered to celebrate a friend’s completion of final-year examinations.

The Vice-Chancellor, Prof.

Describing the incident as “a death too many”, Ortuanya announced a three-day mourning period in honour of the deceased, during which all academic and social activities on campus would be suspended.

“Within these three days, all social and academic activities will be suspended in the university,” he said.

The Vice-Chancellor also announced the postponement of a town hall meeting earlier scheduled between the university community and the Enugu State Governor.

He expressed condolences to the families, friends and colleagues of the deceased, saying the university management, staff and students shared in their grief and prayed for the repose of the souls of the departed.

Meanwhile, the Enugu State Police Command has commenced an investigation into the circumstances surrounding the deaths.

In a statement issued by the Command’s Police Public Relations Officer, Daniel Ndukwe, the police said the four victims, comprising two males and two females, reportedly took ill after allegedly consuming alcoholic beverages during the gathering.

According to the police, the four victims were confirmed dead on arrival at the hospital, while six other students were rushed to medical facilities for treatment.

The Command disclosed that alcoholic beverages were recovered from the scene, while the remains of the deceased had been deposited in a mortuary for autopsy to establish the actual cause of death.

It added that investigations were ongoing and promised to provide further updates as more facts emerged.

However, the Pharmaceutical Association of Nigerian Students (PANS), UNN Chapter, dismissed the claims, insisting that there was no confirmed report of any Pharmacy student among the deceased.

In a statement signed by its President, Onah Olisaemeka, and Secretary-General, Obasi Chibuike V., the association said its president personally visited Faith Foundation Hospital, where the bodies of the four deceased persons were deposited.

According to the association, the president viewed the bodies and could not identify any of the victims as a Pharmacy student.

The association also disclosed that two persons hospitalised following the incident were familiar UNN social media personalities popularly known as Rymez and Golden, noted for street-vlogging and dance content.

It urged students and members of the public to avoid spreading unverified information, particularly regarding the identities and academic affiliations of those involved.

A student of the university, who spoke on condition of anonymity, also confirmed that the incident occurred in Nsukka but said the identities and student status of those affected could not initially be established.

The student, however, confirmed that some of the victims were still conscious and receiving treatment in hospital.

The incident has renewed concerns over the safety of students during off-campus social gatherings and the risks associated with the consumption of potentially harmful substances.

While the university and police authorities continue efforts to establish the full circumstances surrounding the tragedy, the actual cause of the deaths remains subject to the outcome of the autopsy and ongoing investigations.