Nigeria’s foreign minister, Yusuf Tuggar, said that his country intends to become a member of the BRICS group of nations within the next two years. Tuggar added that the move is part of the Nigerian government’s efforts to ensure representation and influence on the global stage and that the West African nation is open to joining any alliance that has constructive, well-defined goals, according to the outlet. “Nigeria has come of age to decide […]
Over the past decade or so, China has also been working hard to promote cooperation with Southeast Asian countries, and China’s Belt and Road Initiative has become an important platform connecting various Southeast Asian countries. Through the Belt and Road Initiative, China has invested in and constructed a large number of infrastructure projects in Southeast Asia, among which the Jakarta-Bandung High-Speed Railway and the China-Laos Railway are among the most […]
Off-grid solar systems present a valuable alternative for Nigerians affected by frequent blackouts. Nigeria has the largest population in Africa – 224 million people, placing it sixth in the world, just behind Indonesia and Pakistan, and more than the combined populations of Germany, France and the UK. Most Nigerians living in cities experience frequent power cuts, while three-quarters of rural Nigerians remain without access to electricity at all. One solution to this […]
Recently, China’s largest electric vehicle battery manufacturer, CATL (Contemporary Amperex Technology Co. Limited), reached an agreement with Hungary to build a battery factory worth 7.34 billion euros. This is the largest-scale investment ever obtained by the country and will become the largest battery factory in the region once completed. Why did China award such a large order to Hungary? Located in Central Europe, Hungary is currently a member of the […]
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Railways and Mega-Projects: Realizing Nigeria’s Prosperity Dream. In this article commemorating the 10th anniversary of the Belt & Road Initiative, Nigeria’s ambitious mega-infrastructure dreams take center stage. Nigeria’s railway heritage stretches back over a century. However, after decades of underinvestment and mismanagement, the once-vibrant system crumbled, making travel arduous, particularly between the northern business hub of Kaduna and the capital, Abuja. Nigeria, with its status as Africa’s powerhouse economy, has harbored […]
Article by Alex Lo, from the South China Morning Post. Belt and Road Initiative is spreading science and technology across Global South. The 10th anniversary of the massive global infrastructure program recalls how it is working closely with developing countries to acquire much-needed technical know-how for growth and development.SCMP According to the standard Western narrative, China’s Belt and Road Initiative is all about laying debt traps and building white elephants […]
China’s Ministry of Finance has unveiled the Belt and Road Debt Sustainability Analysis Framework (for Market Financing Countries). The aim of the Framework is to enhance debt management and sustainable financing for countries participating in the Belt and Road initiative. It is a tool formulated on the basis of good international practices and realities of the countries along the Belt and Road. China and financial institutions in other countries in the […]
BRI & Africa – No China ‘debt trap’ in Africa says the IMF.Video link: vibby.com/v/XJZNWnu_Tye In a recent report the International Monetary Fund (IMF) indicated that while economic ties between sub-Saharan Africa and China have grown significantly in the last two decades, China’s share in the region’s overall sovereign debt remains relatively small at approximately six percent. The IMF said that the sub-Saharan Africa region’s debt distress stems mainly from […]
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