Business
Tinubu Demands Quick Action Plans from Tegbe on China’s US$51bn New Financing
President Bola Ahmed Tinubu has tasked the newly appointed Mr. Joseph Olasunkanmi Tegbe, the Director-General and global liaison for the Nigeria-China strategic partnership, to immediately submit a strategic action plans that will enable Nigeria to benefit from the China’s US$51bn new Financing for African Nations.
Recall that at the 2024 Forum on China-Africa Cooperation (FOCAC), President Xi Jinping pledged 360 billion yuan, or about $51 billion, in new financing to African nations in the next three years.
In a statement, Bayo Onanuga
Special Adviser to the President
(Information and Strategy), said that Tegbe, following his appointment will report directly to the President, as the czar of the strategic partnership agreements reached between the two countries in Beijing.
” Tegbe will lead day-to-day operations, engage continuously with the Chinese counterparts, and ensure that all deliverables are met and synchronised with national development goals.
In the strategic plan, he will outline the specific deliverables, timelines, and key performance indicators for each area of cooperation. This will include priority projects, projected investments and expected socioeconomic outcomes,” said the statement.
Profile of Tegbe
He was a 1988 first-class graduate in civil engineering from Obafemi Awolowo University.
Tegbe
is a fellow of the Institute of Chartered Accountants of Nigeria and a fellow of the Chartered Institute of Taxation of Nigeria.
After his education at Federal Government College, Ogbomosho, and Obafemi Awolowo University, he had about 35 years of experience in business strategy.
He was the senior partner and head of advisory services at KPMG in Africa, with a portfolio and responsibilities that included the Middle East.
He has worked for many Fortune 500 companies and African conglomerates, advising on strategic planning, investment, and portfolio reviews.
He also led subnational governments, such as Oyo, Ekiti, Ondo, Benue, and Bayelsa, in investment drives to South Africa, Denmark, China, India, Singapore, and the UAE.
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1,416 Sell ₦1,423
GREAT BRITISH POUND (GBP) Buy ₦1,890 Sell: ₦1,910
EURO (EUR) Buy ₦1,590 Sell ₦1,610
CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN Exchange Rates
US DOLLAR (USD) ₦1,357. 65
GREAT BRITISH POUND (GBP) ₦1,834.04
EURO (EUR) ₦1,567.00
SWISS FRANC (CHF) ₦1,671. 98
JAPANESE YEN (JPN) ₦8.53
CHINESE YUAN (CNY) ₦201. 34
WEST AFRICAN CFA (XOF) ₦2. 39
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,858.02
SAUDI RIYAL (SAR) ₦361.62
SOUTH AFRICAN RAND (ZAR) ₦84.23
Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
Business
Nigeria’s oil production dropped by 4% in July – NUPRC
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.
According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.
The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
HAPPENING NOW: Security Beefed up at INEC Office in Osun Ahead of Saturday’s Governorship Election
Gov Mbah Invest in world-class Enugu International Hospital
Committees hit the ground running for 8th Kwara State Sports Festival
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
Business2 days agoFG approves tax waivers for 4,000 electric vehicles
-
Business2 days agoGuaranty Trust Bank doubles naira card international spending limit to $40,000
-
Business2 days agoAzikel Refinery in Bayelsa Set To Add 25,000 bpd To National Capacity
-
Business2 days agoNigeria’s oil production dropped by 4% in July – NUPRC
-
Business2 days agoNaira Exchange Rates Thursday, August 13
-
Sports2 days agoKatsina United player declared dead found alive in mortuary
-
Business3 days agoNaira Exchange Rates Wednesday, August 12
-
Sports2 days agoNBA’s Los Angeles Lakers to be sold for $12.5bn – Report