Tag: China

  • As Trump enrolls in the evil axis – Chidi Amuta

    As Trump enrolls in the evil axis – Chidi Amuta

    Last week, China seized the opportunity of its celebration of the 80th anniversary of the end of the Second World War to celebrate some other dubious things. It was not just the victory of the Chinese Liberation Army over the Japanese imperialists in the World War.  It was also a celebration of the survival of the Communist order even if mortally wounded and weakened. It was above everything else an opportunity to exploit the current weaknesses of the Western Alliance to look forward to the emergence of an alternative world order.

    In the context of the contemporary world order largely dominated by the West and its values and economic rules, it was an opportunity for China as the second largest economy in the world to rally its allies and like-minded countries to showcase and foreshadow an alternative world order as a counterweight to the prevailing Western order in culture, diplomacy, economics and noise. The North Korean delegation to the conference even came armedwith a highly sexed up video of the future of the Evil Emire, one mae more attractive to tourists and visitors. It was a plagiarized version of the futuristic adolescent utopian video bandied by Donald Trum during his first term visit to North Korea.

    In other words, what China has just staged is a symbolic conclave of  alternative powers in the search for a new world order. It saw a gathering of countries like China, Russia, North Korea, Turkey, Iran  meet in China to showcase the outlines of an alternative world order. A very significant presence in the assemblage  was India represented by Prime Minister Modi. With China and India, the demographic gravity of the China conclave in the world cannot be under rated. Economically and demographically, China and India represent the face of the world ahead.

    To underline the gathering as a great power front, China staged a an impressive parade of some of its most recent military hardware and their underlying technological backbones. Russia’s Vladimir Putin grinned endlessly as he was witnessing a gathering that fits into his dream of an alternative world empire. Putin lives anddreams of the return of the Cold War era when a powerful Soviet Union stoodshoulder toshoulder with the West. Henowneeds a powerfull wealthy and belligerent China tosustain that illusion.

    The alternative world order is simply defined. It is an order marked by only one political identity: it is not Western. It is not liberal democratic. Its defining political character is authoritarianism. It respects no human rights. People exist to givelegitimacy to those who confiscate power and hold on to it under guise of some “democratic” mask. Those who oppose the authoritarian despot had better write their will as the despot has only one gift for the opposition: Death or permanent exile.  Its strategic aim is to counterbalance the policies, values and  leadership models that have become synonymous with the West since after the end of the Second World War. In place of free trade, free enterprise and liberal democracy, these countries offer centralized economics, and authoritarian rule and a crushing repression of civil rights. In place of freedom of expression and democratic political expression, they posit controlled speech, muffled expression and limitless censorship of individual expression. Silent acquiescence is miataken for peace and order. At best, these countries offer illiberal democracy in which the views of one party and the wishes of one man prevail over and above the diversity of the multiplicity of voices and tendencies in these very large countries.

    The politics of the contemporary world seems to have played into the hands of China and its oppressive allies. First is the rise and return of Donald Trump in the White House. Second is the ongoing war of territory in Ukraine between an ambitious Russia and  an expansionist NATO. Russia has survived an avalanche of US and western economic sanctions with the financial support of China and direct military assistance of North Korea and Iranian arms. India’s continued purchase of Russian oil has been interpreted as a major strategic sabotage of Western interest in the Ukraine conflict. Aspunishment, Trump has slammedanaverage of 50% duty on Indian goods coming into the US. In brutal retribution, India has symbolically joined the Axis of Evil led by a cynically smiling Xi jiping.

    Ordinarily the direct partisanship of China and North Korea would have defined a line of old animosity between the old West and East if indeed there was in Washington a typically American and pro -Western President. Donald Trump lives in the White House but his principal role models are authoritarians and despots. He has openly expressed admiration for Xi Jiping of China, Vladimir Putin of Russia, Kim Jong Un of North Korea, Viktor Orban of Hungary and a slew of small autocrats around the world. Temperamentally therefore, Donald Trump belongs to the authoritarian universe of the antagonists of the West. Inhis leadership rolemodels anddomestic policy direction, Donald Trump is merely an applicant for enrollment into the Axis of Evil championed by China and other authoritarian forces.

    Matters would have been simpler if at the level of domestic policy values Trump was Western or even American. He is not. He has instead systematically thwarted most of the values that make America distinct. His anti -immigration drive is a near maniacal crusade against immigrants, a drastic reversal of the immigrant essence of America. He has sent out armies of ICE officials to hound all immigrants. People have been yanked off schools, churches, farms, factory work places and bundled into waiting repatriation planes to be repatriated to countries they hardly know. Strange places like Uganda, South Sudan are being lobbied and paid to accept plane loads of immigrants from the US. Some of these immigrantsare crack criminals from American jails. In a few sad cases, children bornin America have been yanked off schools and playgrounds and bundled into planes waiting to head in no particular direction.

    Under Trump, major cultural markers of American civilization are being disfigured and erased. The Kennedy Centre, the Smithsonian Institute are all being rid of their historical resonance. Mentions of the heritage of slavery as a foundation of American prosperity and greatness are being deliberately altered or totally erased.

    Yet America has progressively defined itself in manners and worlds that make it distinct from the alterative world of the old Evil Axis. In the early days after the death of the Cold War, George Bush Jr. characterized the countries of the old left along with Iran as the Axis of Evil, a term that clearly indicated the diametrical opposition of the values of authoritarianism and arbitrariness against the Western values of freedom, free trade, liberal democracy and freedom of thought, movement and enquiry. It is doubtful if Donald Trump can be as bold as George Bush Jr. who was in every way a thoroughbred American Republican and embodiment of the core values and defining creeds of America and therefore the West.

    Before George Bush jr., his father as president had summarized the defining mission and character of America as the pursuit of a “kinder gentler” nation which would wield its soft power around the world without leaving doubts that its strength lay in its soft power.

    After the Bush era, Barrack Obama rode to power on the platform of an all inclusive America, a nation of immigrants from all over the world whose beauty lay in the diversity of its populace and capacities. The policy of Diversity, Equity and Inclusiveness (DEI) was devised to accommodate the historical reality of America. It sought to give scope for every American, immigrant or home born, black, brown, white, Hispanic and Asian to come to American to pursue the American dream and give of their very best.

    Above all, the greatness of American was to be sustained on the freedom of thought, enquiry and movement as originally espoused by the founding fathers. A major block of this greatness was excellence in science, technology and the humanities. Underlying it all was a freedom to inquire into every aspect of human knowledge and endeavor. The universities were the consecrated centres of this great learning.

    On the contrary, Trump is somewhat confused. He is paraded as the president of America which remains the bastion of freedom and democracy all over the world. He has repeatedly expressed his admiration for authoritarian dictators all over the world as models of what he calls “strong” leadership. He has staged a massive military parade in Washington in imitation of the Chinese and Koreans.

    He has embarked on a massive takeover of time honoured cultural institutions and subsumed such take over under his ideological obsession with white nationalism. Anything that looks like respect for diversity, inclusion and equity in all major national institutions is being systematically thrashed and replaced with while supremacist personnel and ideas.

    These measures are all targeted at the democratic essence of the American nation. Literally everywhere and in all segments of American life, the democratic essence of the nation is under assault. The powers of state governors to decide on the most elementary aspects of the lives of their citizens are being challenged and replaced by federal fiat. The judicial branch is over burdened with cases challenging the authoritarian excesses of the Trump presidency. Never in any othe single presidential term has the powers of the president come under such systematic judicial scrutiny and open challenge,

    From an ultra republican nation, America under Trump has been struggling with the outlines of authoritarianism and a creeping monarchism in which Donald Trump and his minions and hirelings are functioning more like feudal prefects than as democratic officials. Americans have had to march in several cities against the kingship traits of President Trump.

    Trump’s  entire doctrine of “America First” is antithetical to the pursuit of a world agenda. Nations can act to protect their national interests  in matters of national security and economic protectionism but once a major power has declared a commitment to championing a global agenda, it is limited in its pursuit of national interest. A delicate balance has to be struck between national interest and the imperatives of the global agenda.

    A global agenda without the soft power of aid to the afflicted, food for the hungry, medicine for the sick and compassion for citizens in distress is no better than the criminal negligence of the worst authoritarian regimes. You cannot replace pain with more excruciating pain and anguish and insist that you are championing the emergence of a new world order.  This is what Trump is doing while insisting that he deserves the Nobel Peace Prize.

    In pursuit of a more martial rule, Trump has imposed martial law in major cities starting from emergencies in Los Angeles, Washington DC and soon Chicago.

    The indiscriminate imposition of discriminatory trade tariffs on different countries with scant regard as  to whether they are allies or adversaries. India, Mexico, Canada, most of the European Union. This indiscriminate tariff policy has further blurred the distinction between allies and adversaries and widened the market for friends for allies of the evil empire. You cannot be the champion of a different world order when your actions, policies and utterances espose and champion the values of the other world.

    Taken together, all of Donald Trump’s actions, inclinations leadership preferences amount to a giant application to  the cult of evil empires. Instead of positing a strong alternative to the Axis of Evil, Trump is intent on unifying the world under one  authoritarian, protectionist and national umbrella. Trump’s vision is one in which the United States literally stands alone as one strong economic and military power at par with China but in a position to dictate to the rest of the world. I doubt that the thought of a hemispheric influence or global order appeals to Mr. Trump.

  • China rejects politically-motivated U.S. economic claims

    China rejects politically-motivated U.S. economic claims

    Recent remarks by U.S. officials accusing China of flooding global markets with exports and calling for a “rebalancing” of its economy are nothing new.

    The arguments had been recycled for years, rooted more in political posturing than sound economic reasoning.

    Such claims ignored the significant transformations taking place as China advanced toward high-quality and sustainable economic development.

    The notion of “rebalancing” is, in essence, a reflection of Cold War-era thinking, zero-sum logic that sought to frame economic discourse in adversarial terms.

    In reality, domestic consumption had become the main driver of China’s economic growth.

    In the first half of 2025, internal demand contributed 68.8 per cent to GDP growth, with consumption alone accounting for more than half.

    This marks a notable shift from previous years.

    In 2024, consumption contributed 44.5 per cent to GDP growth, surpassing both net exports 30.3 per cent and investment 25.2 per cent to become the primary engine of expansion.

    Meanwhile, China’s trade structure continued to upgrade. In the first half of 2025, total goods trade rose by 6.1 per cent year-on-year.

    General trade, which featured longer value chains and higher value-added goods, accounted for 65 per cent of total imports and exports.

    Mechanical and electrical products made up about 60 per cent of China’s exports, including strong growth in high-tech sectors like electric vehicles, industrial robots, and integrated circuits.

    “In spite of global uncertainties and a sluggish global recovery, China remains a key destination for foreign investment.

    “More than 30,000 new foreign-invested enterprises were established in China in the first half of 2025, an 11.7 per cent increase year-on-year.

    “Notably, investment is shifting toward high-tech sectors, with major inflows into e-commerce services, pharmaceutical manufacturing, aerospace, and medical equipment.”

    Blaming China for America’s trade imbalance oversimplifies the issue and misrepresented global trade dynamics.

    Many of the goods exported from China to the U.S. are produced using components imported from third countries, or are manufactured by American companies operating in China.

    These products are counted as Chinese exports, but the profits often return to U.S. firms.

    In fact, American multinationals frequently earn more abroad than at home, benefiting significantly from globalisation.

    Yet traditional trade statistics fail to capture this reality, overstating the U.S. trade deficit and masking who truly benefits, mostly wealthy shareholders, not average Americans.

    It is deeply ironic that U.S. officials decry others’ economic imbalances while overlooking the severe structural imbalances at home, challenges that not only threaten the American public but also pose risks to the global economy.

    One such imbalance is the U.S. model of “high consumption, low savings.” Personal savings rates have declined for decades, and today’s households are burdened by rising living costs and growing debt.

    Public finances fare no better: the U.S. posted a 1.8 trillion dollars deficit in fiscal 2024 and a 1.3 trillion dollars shortfall in the first half of fiscal 2025, levels rarely seen outside of crisis periods.

    America’s debt-fueled growth model has only deepened these issues.

    Since the 1980s, when the U.S. shifted from being a net creditor to a net debtor, national debt has exploded, from 3.2 trillion dollars in 1990 to nearly 37 trillion dollars today.

    Alarmingly, interest payments on this debt now exceed annual defense spending.

    Perhaps the most telling structural issue is the financialisation of the U.S. economy. Since the 1970s, the U.S. has steadily deindustrialised, pivoting from manufacturing toward finance.

    Loosely regulated markets had fueled the expansion of virtual capital, while the real economy, especially manufacturing, had been hollowed out.

    This had undermined long-term competitiveness and worsened trade imbalances.

    In this context, accusations that China’s economy was “unbalanced” rang hollow.

    They reflected a political narrative rather than an economic reality. Time and again, these claims have failed the test of facts.

    History will show that vilifying others cannot stop China’s progress. Rhetoric cannot obscure truth forever.

  • Iran proposes visa-free travel for Chinese tourists

    Iran proposes visa-free travel for Chinese tourists

    Iran has called on China to cancel tourist visa requirements for Iranian citizens, following its unilateral move to lift visa restrictions for Chinese travellers.

    This development is according to Mehr News Agency, a partner of  TV BRICS.

    The request was made by Hojjatollah Ayoubi, Head of the Ministry’s International Affairs Centre, during an official meeting with Gao Zheng, China’s Vice Minister of Culture and Tourism, on the sidelines of the SCO Ministers’ Meeting on Culture and Tourism in Qingdao.

    During the talks, Ayoubi emphasised the deep-rooted cultural ties between Iran and China, describing both nations as heirs to ancient civilisations.

    He proposed a series of bilateral initiatives, including joint exhibitions, cultural exchanges, co-production of documentaries, and academic cooperation in fields like museology and traditional medicine.

    Ayoubi also stressed the importance of tourism as a bridge between people in an era of misinformation and encouraged China to take reciprocal steps to facilitate people-to-people engagement.

    Vice Minister Gao welcomed Iran’s proposals, highlighting strong public interest in Iranian culture, including an ongoing exhibition in Beijing drawing over 70,000 visitors daily and expressed readiness to expand cooperation through joint programmes and a proposed cultural coordination committee.

  • What can Nigeria learn from China’s electricity revolution? – By Dakuku Peterside

    The moment of revelation came unexpectedly on a high-speed train leaving Beijing, where a screen showed that 36% of the train’s traction power came from wind energy. Outside, rows of wind turbines turned gracefully under the sun. For someone familiar with Nigeria’s unreliable grid—where diesel generators hum through the night and candles are often the only light—this was astonishing. By nightfall, Shenzhen’s LED-lit skyline shone brighter than Nigeria’s entire grid on its brightest day.

    After ten days engaging with institutions and professionals in Singapore, Qatar, and China, I am convinced Nigeria’s energy independence is achievable. The raw materials and technology to power Nigeria exist; what is missing is an unwavering commitment to unite our resources under a common vision. If China’s electricity generation can soar from just over  1,300 TWh in 2000 to over 10,000 TWh by 2024 and if Uruguay, a small country with no fossil fuels reserves, can leap to  90% renewable electricity in a decade, then Nigeria, blessed with abundant sunlight, deep gas reserves, and hydropower potential, can close its electricity gap in five years.

    Electricity is more than illumination—it is the backbone of modern life. It is the force that powers cocoa presses in Ondo, preserves fish catches for the market in the Niger Delta, drives vaccine cold-chain trucks delivering vaccines to remote clinics, fuels data centres, and charges batteries for homes in bustling cities. In Lagos, factories lose up to 40% of their profits due to reliance on diesel generators during outages. In a world where the cost of backup power can turn a manufacturer from profit to loss, a reliable grid power is nothing less than an economic lifeline. The potential economic benefits of dependable electricity demand decisive action.

    Reliable electricity is not just about balance sheets and national budget narratives; it is about social stability and well-being. The International Energy Agency notes that each additional gigawatt of dependable power can support between 40,000 and 50,000 jobs in construction, manufacturing, and services. This potential for job creation is a beacon of hope for Nigeria’s youth, comprising approximately 70% of the population. More jobs mean fewer vulnerable youths susceptible to insurgency or crime; electricity thus becomes a preventive measure for security. Its social benefits underscore its importance and the gravity of the situation, motivating us to work towards it.

    At the same time, scarcity also means lost opportunity. For example, Bitcoin mining consumes approximately 33 TWh annually, comparable to Denmark’s annual electricity production. Where power is cheap and abundant, tech firms thrive; where it is rationed and generator-dependent, capital and high-skilled jobs flee, along with tax revenues and tech cluster growth.

    Most importantly, universal electricity saves lives. Clinics with reliable refrigeration reduce maternal and infant mortality. Schools with dependable power extend learning hours and offer digital curricula to children in rural areas, providing them with access to educational resources. Streetlights deter crime and help women feel safe. Access to electricity correlates strongly with literacy, life expectancy, and income. These social benefits underscore the urgency and importance of ensuring reliable electricity for all Nigerians, emphasising the need for immediate action.

    China’s story demonstrates how quickly a nation can pivot when policy is clear and capital is welcome. In 2000, China’s grid produced just over 1,300 TWh, approximately one-third of the U.S. output. By 2006, it had surpassed the U.S., and by 2024, it had generated over 10,000 TWh, nearly twice the U.S. output. How? This was driven by legally binding Five-Year Plan targets for capacity, efficiency, and emissions, which provincial governments and state enterprises implemented consistently. The annual investment in generation, transmission, and distribution peaked at approximately 5% of GDP, significantly higher than Nigeria’s rate of under 1%.

    China then diversified its energy mix: coal remained the backbone, but hydroelectric dams, solar farms, wind parks, and nuclear reactors grew rapidly. By 2024, non-fossil sources accounted for over 38% of generation. Transparent auctions and two-part tariffs -fixed network charges plus variable consumption charges-aligned incentives for consumers, utilities, and investors. Oversight by a Supra-ministerial National Energy Commission, chaired by the Premier, ensured sector accountability and minimised bureaucratic conflicts. Programmes like Made in China 2025 have invested billions in solar chemistry, grid batteries, and power electronics, driving down costs and increasing capacity.

    China is not a perfect analogue for Nigeria, with different political and fiscal realities. However, its trajectory reveals a key truth: a country can add the equivalent of America’s entire grid in one generation when policy is clear and capital is welcome.

    Uruguay offers another lesson. In the early 2000s, it faced drought-prone hydropower, oil imports for thermal plants, rolling blackouts, and tariff spikes. In 2005, all political parties agreed on a 25-year energy policy ensuring bipartisanship and stability. Transparent auctions attracted global wind and solar developers. Within eight years, Uruguay installed 1.3 GW of wind capacity—the highest per capita worldwide—plus solar and biomass projects. By 2016, renewables generated over 90% of electricity, tariffs had stabilised, and Uruguay exported a surplus of power to Argentina. The secret was not sheer size or resource advantage, but a credible, long-term plan backed by market discipline.

    It’s heartening to see the federal government take such decisive action to reshape Nigeria’s electricity landscape. The repeal of the Electric Power Sector Reform Act of 2005 and its replacement with the Electricity Act 2023 is more than a legal adjustment—it feels like the opening of a new chapter. Beyond simply rewriting the rules, we have witnessed the very architecture of our power sector undergo a transformation. By dividing the Transmission Company of Nigeria into two distinct bodies —the Transmission Service Provider, which maintains towers, lines, and substations, and the Independent System Operator, which coordinates the flow of power —there is hope. There is something fundamentally reassuring about having a dedicated steward for our physical network and a separate, impartial referee for load allocation among generators, distributors, and consumers.

    And yet, as promising as these reforms are, I cannot help but pause and wonder: Will structural change alone bridge the yawning gap between the electricity we have and the electricity we need? True transformation will demand more than new acronyms and fresh mandates. We will need a power regime that ignites investment, drives innovation, and sustains long-term growth—one that reaches into every corner of this country and lights up the lives of all Nigerians. In this moment of transition, I am reminded that reform is always a beginning, never an end. The Electricity Act 2023, along with the creation of ISO and TSP, marks a bold step forward. But the journey toward an abundant, reliable power—one that can fuel homes, industries, and imaginations – remains ahead of us.

    Mapping Nigeria onto those blueprints reveals the scale of our challenge, but also the path out. We have 13 GW of nameplate capacity but less than 5 GW reliably available; combined technical and commercial losses exceed 40%; a generation mix skewed to gas and hydro; fourteen primary policy documents since 2001; a single-buyer market struggling to pay gas plants; retail tariffs below cost; and almost no R&D investment for home-grown solutions. China and Uruguay faced similar gaps at the start of reform; the difference lies in governance, investment discipline, and market design.

    None of these gaps is immutable. Nigeria needs a five-year Power Sufficiency Roadmap, enshrined in law, to ensure stability during periods of political transition. This roadmap should be overseen by a presidential Energy Council with a real-time dashboard tracking capacity, dispatch, losses, finance, and service quality. The Transmission Company of Nigeria should be ring-fenced and spun into an independent system operator, funded by sovereign guarantees, green climate funds, and pension bonds. New generation projects should leverage Nigeria’s advantages, including utility-scale solar in the north with domestic panel assembly, run-of-river hydro in the Middle Belt, gas peaking plants in Lagos, and gas plus near-shore wind farms along the coast. Tariffs must be cost-reflective, offering a subsidised lifeline block of approximately 50 kWh per month. Digital meters and mobile money will target subsidies precisely to the poorest households.

    Ten per cent of the Rural Electrification Fund should seed university-industry consortia developing battery recycling, smart meter firmware, and modular inverters tailored to local conditions. Heavy-load offenders—such as illegal crypto mines and inefficient data centres—should face time-of-use penalties or bans, thereby freeing a few terawatt-hours for factories and clinics. If executed faithfully, Nigeria could achieve 20 GW of dependable capacity within five years, with unserved energy below 5%, grid losses cut by two-thirds, and reliable power in every urban centre. Manufacturing output would rise, household bills would fall by up to 30%, and over three million jobs would emerge in generation, contracting, assembly, and services. Clinics and schools would run uninterrupted; entrepreneurs would no longer budget for diesel; foreign direct investment would flow into tech parks and export zones.

    Nigeria has richer sunlight than Spain, deeper gas reserves than Norway, and hydropower potential rivalling that of Ethiopia. Our entrepreneurial spirit, mobile money networks, and growing digital workforce equip us to leapfrog legacy barriers. What remains is the decision to marshal policy, capital, and markets toward power sufficiency for all.

    China demonstrates that a nation can turbocharge its grid with single-minded policy, and capital feels secure. Uruguay indicates that even a small, import-dependent country can become a net power exporter within a decade. Nigeria has the resources and technology; what it lacks is coordinated conviction. Progress is a choice. If Nigeria adopts coherent policy, disciplined investment, and market incentives, five years from now, 2024 will be remembered not as a year of darkness but as the turning point toward reliable, affordable electricity for all. The switch is within reach. Let’s flip it.

  • China reacts as Trump fires strong warning at Iran

    China reacts as Trump fires strong warning at Iran

    China is calling for more efforts by influential countries to defuse the Iran-Israel conflict, following warnings by U.S. President Donald Trump that Tehran residents should evacuate.

    Pouring oil on the fire will not help to ease the situation but will exacerbate conflicts, Foreign Office spokesman Guo Jiakun said in Beijing when asked about Trump’s social media post.

    Shortly before leaving the G7 Summit in Canada, Trump wrote on his social media platform, Truth Social: “I said it over and over again! Everyone should immediately evacuate Tehran!’’

    China was calling on all sides concerned “especially those countries with particular influence over Israel’’ to take immediate measures to calm the tense situation, Guo said.

    The U.S. is Israel’s strongest ally, while Beijing and Tehran have close relations.

    China is a major purchaser of Iranian oil and is suspected of supplying Iran with raw materials important for armaments.

  • China hammers US over Golden Dome missile shield system, says it “undermines global stability”

    China hammers US over Golden Dome missile shield system, says it “undermines global stability”

    China on Wednesday caitioned that US President Donald Trump’s “Golden Dome” missile shield system “undermines global stability” after he announced US$25 billion in initial funding for the plan.

    “This undermines global strategic balance and stability. China expresses serious concern over this,” Foreign Ministry spokeswoman Mao Ning told a regular briefing.

    “The United States puts its own interests first and is obsessed with seeking its own absolute security, which violates the principle that no country’s security should come at the expense of others.

    “(The plan) heightens the risk of space becoming a battlefield, fuels an arms race, and undermines international security.

    “We urge the United States to abandon the development and deployment of a global missile defence system as soon as possible.”

    Trump on Tuesday unveiled new details on the missile shield system to protect the country against attacks, saying it should be operational in about three years.

    Pentagon chief Pete Hegseth, speaking alongside the US president, said the system is aimed at protecting “the homeland from cruise missiles, ballistic missiles, hypersonic missiles, drones, whether they’re conventional or nuclear.”

    Trump announced US$25 billion in initial funding, which he said could eventually cost a total of some US$175 billion. (AFP)

  • Oil prices climb to nearly $66 following US-China tariff truce

    Oil prices climb to nearly $66 following US-China tariff truce

    Oil prices surged on Monday, reaching $65.99 per barrel, after the United States and China agreed to temporarily ease tariffs, fueling optimism that the trade dispute between the world’s top two crude consumers may be nearing resolution.

    According to Reuters, Brent crude futures rose by $2.08, or 3.25%, to $65.99 a barrel. Similarly, US West Texas Intermediate (WTI) crude futures increased by $2.05, or 3.36%, to $63.07.

    The rally came after both nations announced a 90-day pause on further tariff actions following negotiations in Geneva over the weekend. As part of the agreement, tariffs will be reduced by over 100 percentage points, returning to a baseline rate of 10%.

    Prior to this development, crude prices had fallen to $60, creating fiscal pressure for oil-dependent nations. Market analysts suggest that a reduction in trade tensions between the two economic powerhouses could stabilize global demand and support oil prices.

    Ole Hansen, a market analyst at Saxo Bank, noted that easing trade frictions would reduce the risk of a prolonged economic downturn, which has weighed heavily on the oil market.

    The Geneva discussions marked the first high-level, in-person meeting between US and Chinese economic officials since President Donald Trump resumed office and reinstated aggressive trade measures.

    Improved dialogue between the two nations could restore trade flows and bolster global oil demand. “This is a positive step, and certainly better than a breakdown in talks,” said Callum Macpherson, head of commodities at Investec. “It’s no surprise that oil markets are reacting positively.”

    Last week, both crude benchmarks recorded gains of over 4%, buoyed by a US trade agreement with the UK that further boosted investor sentiment and eased concerns about widespread economic fallout from American tariff policies.

    Earlier in April, the US-China trade war had dragged oil prices to their lowest levels in four years.

  • Visa delay: Nigeria withdraws from World Relays in China

    Visa delay: Nigeria withdraws from World Relays in China

    Nigeria has withdrawn from the 2025 World Relays scheduled to take place in Guangzhou, China, citing delays in the issuance of visas to its athletes.

    The Athletics Federation of Nigeria (AFN) in a statement on Friday blamed China’s visa process for the withdrawal.

    The federation regretted that despite beginning the application process in February, “the embassy delayed till a last-minute visa issuance” making it impossible for the team to participate in the event.

    “With deep regret, we, the AFN, announce our withdrawal from the World Relays following unacceptable visa delays by Chinese authorities.

    “ Despite our diligent efforts processing documentation since February, our athletes have faced numerous obstacles .

    “This includes embassy embarrassment to last-minute visa issuance that made competition attendance physically impossible.

     “The impact has been severe.

    “It has wasted training preparations, significant financial losses, lost qualification opportunities, and devastating psychological effects on our athletes,” AFN noted.

    The federation also lamented various documentation requested by the embassy noting that there were “poorly communicated”.

     “Chinese authorities frustrated our participation by claiming they didn’t have contact with their own Embassy in Washington and Abuja, also providing incorrect invitation letters and changing the application portal twice.

    “ Their requirement for a special “Verification Letter of Invitation” was poorly communicated and inconsistently applied while they demanded police reports and even bank statements from all participating athletes, coaches and officials.

     “We stand by our decision to withdraw as it became clear our team wouldn’t receive fair treatment or opportunity to compete,” the federation said.

    Team Nigeria comprising nine women and eight men, were scheduled to compete in four events: the men’s and women’s 4x100m, mixed 4x100m, and mixed 4x400m relays.

    The tournament is slated for Saturday and Sunday.

  • Wike travels to China for key talks on FCT satellite towns water project

    Wike travels to China for key talks on FCT satellite towns water project

    The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has embarked on an official trip to China to advance efforts aimed at providing potable water to satellite towns within the FCT.

    According to a statement released on Thursday by Lere Olayinka, the Minister’s Senior Special Assistant on Public Communications and Social Media, Wike made a stopover in Dubai, United Arab Emirates, en route to China.

    While in China, the Minister is scheduled to hold high-level discussions with representatives of the China Geo-Engineering Corporation Overseas Construction (CGCOC) Group. The visit follows the Memorandum of Understanding (MoU) signed during President Bola Ahmed Tinubu’s official trip to China in September 2024, involving CGCOC and the China Civil Engineering Construction Corporation (CCECC), aimed at boosting water and electricity supply in the FCT.

    President Tinubu had earlier approved ₦50 billion for water projects in satellite towns, as part of his commitment to delivering essential infrastructure and restoring public confidence through people-focused initiatives.

    Wike’s visit is part of efforts to ensure the implementation of the President’s directive, particularly in the Gwagwalada, Kwali, and Kuje Area Councils. He is expected to return to Nigeria next week.

  • Choices, not chance: Why China is rich, and Nigeria is poor –  By Dakuku Peterside 

    Choices, not chance: Why China is rich, and Nigeria is poor – By Dakuku Peterside 

    China and Nigeria, two continental giants that entered the late 1970s with similar per capita incomes, have since taken opposite economic trajectories. In China, the decisive moment was Deng Xiaoping’s 1978 decision to “open the windows” and let the world’s capital know-how to blow in. In Nigeria, the same decade ushered in the oil boom that encouraged governments to depend on volatile export rents rather than the hard grind of production. Nearly half a century later, the contrast is stark: China ships $3.58 trillion a year worth of merchandise each year to the US, runs the world’s biggest high-speed rail and electricity networks, and has reduced extreme poverty to the low single digits, whereas Nigeria still relies on diesel generators to power most factories and holds the unfortunate record of hosting the planet’s largest pool of people living on less than $3 a day.

    I was recently in China as part of a Nigerian business delegation that wanted to revolutionise rail freight. We toured Chinese rail manufacturing factories and saw the cumulative effect firsthand. At Yiwu, a market city once famous only for cheap toys, outbound trains roll directly into the customs yard, clear export formalities in hours and join a trans-Eurasian schedule that reaches Madrid in eighteen days. We counted five layers of the process—terminal handling, port queue, ocean leg, inland haulage, and warehouse sorting—that would each add days and dollars back home. We also noticed that the Chinese yard foreman carried a tablet tracking real-time wagon diagnostics; the Nigerian equivalent would be on a clipboard waiting on a generator to restart the Wi-Fi.

    The macro numbers simply crystallise what we observed on the ground. Manufacturing generates roughly twenty-seven per cent of the Chinese GDP and employs more than one hundred million people. In Nigeria, the share by 2024 has slid below ten per cent and continues to fall. Chinese logistics costs average seven to nine per cent of a retail item’s final price; Nigerian goods often surrender a quarter to a third of their value to the road, the checkpoint and the generator. The pertinent question is, what made China succeed and Nigeria fail?

    Policy consistency is the first, and perhaps most underrated, source of that divergence. Beijing’s five-year plans differed in detail but never in direction: everyone sought deeper industrialisation, more export capacity, and a higher rung on the technology ladder. By contrast, Lagos, Abuja and the thirty-six state capitals have veered from import substitution to outright deregulation to state-owned “transformation agendas,” each abandoned as soon as the next political cycle arrives or the oil price slumps. For investors deciding where to put a steel mill or a chip assembly plant, the difference between a twenty-year horizon and a four-year horizon is the difference between “build” and “walk away.”

    Infrastructure magnified that gap. Beginning in the early 1990s, China poured roughly eight per cent of its GDP every year into roads, ports, airports and—most outstandingly—rail. A lattice of 45,000 kilometres of 250 to 350 km/h track now links almost every provincial capital; freight versions of those lines move 10,000-tonne trains from Chongqing to Shenzhen in a single day. One academic study finds that high-speed rail access lifts a connected city’s GDP by more than fourteen per cent within five years, mostly by slashing logistics times and widening labour catchment areas for firms. Nigeria, meanwhile, rehabilitated a few colonial-era lines and launched several standard gauge projects, but even its showcase Abuja–Kaduna and Lagos- Ibadan routes move fewer passengers in a week than China’s busiest corridor handles before breakfast. Most cargo still crawls along cratered highways where police checkpoints and kidnappers impose an unofficial “fear tax” on every bag of cement or basket of tomatoes.

    China achieved rapid growth by heavily investing in manufacturing. This is unlike Nigeria, where manufacturing contributes less than 12.68% in Q2 2024 and more than 8.21% in Q3 2024. China’s investment in High-Speed Rail (HSR) has led to a significant drop in the cost of goods. Recent initiatives like “Made in China 2025” focus on advanced manufacturing sectors such as robotics, aerospace, new-energy vehicles, and biotechnology to increase the value chain and reduce reliance on foreign technology.

    Reliable energy is the next Faultline. Guangdong province alone generates more electricity than the entire Nigerian grid, and it does so continuously; Chinese aluminium smelters, textile mills and data centres are designed around the assumption that the power will stay on. Nigerian manufacturers assume the opposite. They buy diesel gensets, pay triple the Asian price for each kilowatt hour they consume, and pass that cost on to consumers—who already face some of the steepest logistics markups in the world. When energy constitutes thirty per cent of a product’s ex-factory price, no patriotic marketing can keep that product competitive abroad.

    China’s factories also had people who could keep the machines running. A high school graduate in Jilin can programme a PC and interpret a process control chart because technical and vocational colleges occupy a place of prestige that academic-heavy universities once monopolised. As a result, Chinese employers can field 3,000-strong shifts of technicians able to retool a smartphone assembly line on the weekend. Nigeria’s educational culture remains firmly certificate-oriented; private surveys suggest that more than four-fifths of recent university graduates lack basic spreadsheet or coding competence. The mismatch forces multinationals to fly expatriate engineers into Lagos or—more often—to put the factory in Ethiopia, Vietnam or Guangdong instead.

    Automation sharpened the divide still further. In 2024 alone, Chinese firms installed nearly 300,000 industrial robots—more than Europe and the Americas combined. Robots weld car bodies and ship parts, insert smartphone cameras and package frozen dumplings; the technicians who maintain them earn multiples of the average urban wage. Nigeria ordered only a few hundred units that same year, primarily for soft drink bottling plants in Lagos and Ogun. Without automation, productivity plateaus; without productivity, wages stagnate; without rising wages, the domestic market stays too shallow to justify mass production. The cycle feeds on itself.

    Oil dependence made everything worse. Crude accounts for well over half of Nigeria’s government revenue but employs fewer than one per cent of its labour force. When Brent prices soar, ministries hire, contractors splurge, and imports surge; when prices crash, capital projects halt, debts pile up, and Naira devaluations wipe out household purchasing power. Chinese planners did court commodity cycles—the country still consumes half the world’s copper and iron ore—but their fiscal lifeline was value-added, not raw rents. Tax receipts rose in tandem with factory output, giving Beijing a steadily expanding pool of local currency resources to finance the next port or rail line.

    Insecurity compounds Nigeria’s structural costs. Hundreds of lives and thousands of work hours vanish each year due to armed robbery, terrorist attacks or kidnaping along the Lagos–Kano highway. Firms pay for private guards, convoy fees and kidnap insurance; those outlays translate directly into higher shelf prices and lower margins. China indeed grapples with crime and corruption, but industrial zones in Shenzhen or Suzhou are patrolled, litigated and powered in ways that let a container leave the factory gate and reach the port with minimal friction or added cost. Logistics is the key enabler of manufacturing.

    Yet none of these gaps is destiny. Nigeria’s poverty is a product of a mix of bad leadership and bad choices. Nigeria’s heavy reliance on oil causes economic vulnerability. Nigeria’s education system emphasises certificates over practical skills, creating a gap between what is taught in schools and what employers need. Over 85% of Nigerian graduates lack digital skills, making them less competitive in the job market. The SMART schools championed by the Enugu State government aim to start closing the IT gaps, and other states in Nigeria are expected to create more of these schools.

    Nigeria still has an unreliable electricity supply, inconsistent fiscal policies, shifting regulations, and excessive bureaucracy. Years of focus on ease of doing business have improved things, but we are far from average. Nigeria’s service-led growth has benefited the educated middle class and corrupt government officials and is less employment-intensive. Despite having a young population, massive arable land and growth potential, Nigeria has remained a country of poor people.

    Nigeria still possesses assets China would envy: a median age under twenty, vast swathes of uncultivated arable land, abundant sunshine for solar power and a coastline perched between the Atlantic trade lanes and Africa’s interior. What it lacks is the deliberate sequencing that China pursued. Reliable baseload power and a north-south freight rail spine must precede, not follow, any talk of mega parks or local content mandates. Technical colleges must receive the same prestige and funding as universities. We applaud the efforts of the Minister of Education in creating and masterminding the technical and vocational school strategy. Special Economic Zones must specialise in textiles in Kano, agro-processing in Benue, and light engineering in Aba so suppliers and toolmakers can cluster rather than scatter. Nigeria must adopt Industrial clusters as a potential strategy. Industrialisation breeds employment, alleviates poverty, and creates high income and GDP growth, which creates wealth and a better quality of life for citizens.

    If those choices are made and sustained, the virtuous cycle that lifted China is also ready to spin in Nigeria: hard infrastructure lowers cost, factories sprout, wages rise, domestic demand deepens, tax receipts multiply, and the next round of infrastructure becomes easier to finance. History shows that such cycles do not begin with genius inventions or windfall resources; they start when governments decide that electricity at midnight and freight trains at dawn are more important than oil rents at noon. China made that decision decades ago and grew rich. Nigeria still can. President Widodo of Indonesia grew their economy within ten years by furthering an export-oriented strategy with in-country value addition, embarking on expansive infrastructure development, reducing poverty to 1%, and almost doubling per capita income. Can we do this in Nigeria? Yes, we can! Today’s dismal rankings will look like a brief preface to a more prosperous chapter