The Nation Newspaper

Category: Foreign

  • Xolane Ndhlovu’s Acts of Kindness Gain Attention

    Xolane Ndhlovu’s Acts of Kindness Gain Attention

    In a world frequently spotlighting corporate avarice, South African billionaire Xolane Ndhlovu, chairman of DAFRIGROUP LIMITED, quietly champions a different narrative. His success extends beyond astute business dealings to a profound and consistent commitment to philanthropy, positively impacting lives across Africa and beyond.

    While Dafrigroup Limited navigates the complexities of modern business under his leadership, Ndhlovu’s understated acts of kindness increasingly garner attention. Eschewing fanfare, his generosity manifests through tangible actions that meaningfully touch individuals and communities.

    His diverse philanthropic endeavors are deeply personal. A heartfelt ₦3 million donation to Nigerian music icon Davido on his 29th birthday illustrates a connection beyond business. Similarly, a crucial ₦1.5 million lifeline offered to a Nigerian man returning from perilous conditions in Libya in 2023 highlights his targeted interventions during critical times of need.

    Earlier this year, his compassion transcended borders with the repatriation of the body of slain makeup artist Primrose Vale, who tragically passed away in Lagos. This act of solidarity underscores a profound sense of human connection driving his philanthropy.

    Perhaps most poignantly, his ₦5 million donation to a young Nigerian girl, Mary, humiliated for lacking funds for a drink at a hotel, exemplifies his giving spirit. This swift action not only addressed Mary’s immediate distress but also conveyed a powerful message of empathy and social responsibility.

    Read Also: South African businessman Xolane Ndhlovu gifts Facebook friend house

    Ndhlovu’s impact extends beyond individual acts. His $1 million donation to support Africans affected by the war in Ukraine provided vital aid to displaced students from various African nations, offering hope during immense crisis. While reports indicate Nigerian students were not direct beneficiaries of this specific fund, the contribution’s scale reflects Ndhlovu’s pan-African vision of support.

    Furthermore, as founder of DafriBank, Ndhlovu seamlessly integrates philanthropy into his business ethos. DafriBank’s support for tech students exemplifies his commitment to empowering the next generation. In 2022, a reported donation of ₦1.5 million to each beneficiary significantly boosted their educational pursuits.

    Beyond individual support, DafriBank, under Ndhlovu’s guidance, has established impactful community initiatives, such as the ₦100 million educational fund for underprivileged children in Eastern Nigeria. This demonstrates a long-term commitment to fostering educational opportunities and breaking the cycle of poverty.

    These acts of generosity are not mere publicity; they reflect a deeply ingrained philosophy of giving back. Ziggy Xolane Ndhlovu’s actions portray a leader who understands that true success encompasses the positive impact one has on others.

    In a world often celebrating wealth accumulation, Ziggy Xolane Ndhlovu offers a refreshing perspective – a billionaire leveraging his success to create a ripple effect of kindness and hope. His quiet yet impactful philanthropy serves as an inspiring reminder that business and generosity can coexist, leaving an enduring legacy of positive change.

  • Experts warn of risks and opportunities for Nigeria amid U.S. tariff shift

    Experts warn of risks and opportunities for Nigeria amid U.S. tariff shift

    Experts have warned that Nigeria stands at a crossroads, facing both significant challenges and potential opportunities following the announcement of major tariff changes by U.S. President Donald Trump.

    The new measures, described as a “Liberation Day” for American industries, impose a 14 percent levy on Nigerian exports to the United States, triggering market volatility worldwide.

    While the move has raised concerns about trade disruption, some experts believe it could catalyze Nigeria to rethink and reposition its trade strategy.

    Ike Chioke, Managing Director of Afrinvest, referred to the new tariffs as both a disruptive force and a crucial wake-up call. “It’s very troubling. You can see the volatilities in the commodities markets, the oil and gas markets, the equity markets, everywhere,” Chioke, also a member of the development board of the Museum of West African Art (MOWAA), told The Nation.

    However, Chioke suggested that Nigeria could still turn this situation into an opportunity. “While 14 percent may seem large, many of our neighbours have been hit with much larger tariffs,” he explained.

    He pointed to countries like China and other Asian economies, which are facing tariffs ranging from mid-20 to mid-30 percent, implying that Nigeria’s relatively lower rate could offer a competitive advantage in U.S. markets if approached strategically.

    Read Also: Credit rating disparities fuel economic strain, say experts

    “There’s a chance for Nigeria to build its manufacturing capacity, knowing it can export into America at a relatively lower tariff. But we have to get our acts right, make the cost of production cheaper, improve infrastructure, and streamline the ports and export systems.”

    Titus Olowokere, an international trade expert, echoed this sentiment, framing the tariff shock as a catalyst rather than a crisis.

    “Nigerian enterprises possess the agility and resourcefulness to adapt to tariffs, effectively mitigate their impact and ultimately seize the American prize,” Olowokere stated in a recent analysis.

    He acknowledged that Nigeria exported $5.7 billion worth of goods to the U.S. in 2024, now subject to the 14 percent Trump-era tariffs. Still, he argued that this is not a brick wall but a “hurdle to be vaulted with ingenuity and strategic acumen.”

    Olowokere spotlighted agriculture, fashion, and technology as three sectors poised for expansion despite tariff constraints. He noted that cocoa exports, valued at $32.72 million in 2023, could be scaled up by targeting niche segments like the $1.5 billion U.S. organic chocolate market.

    Similarly, African-inspired fashion saw a 25 percent boost in online sales in 2024, a momentum he insisted could be sustained through e-commerce platforms and strategic brand partnerships.

    “Entrepreneurs should pursue transatlantic alliances and tech-driven sales, turning tariffs into a spur for innovation,” he advised.

    The tech sector, in particular, may offer some relief, with Nigerian fintech exports growing by 40 per cent to $150 million in 2024, largely unaffected by tariffs.

    Olowokere suggested that leveraging existing frameworks such as the African Growth and Opportunity Act (AGOA), which provides duty-free access for over 6,800 products, and the African Continental Free Trade Area (AfCFTA) could further cushion the blow.

    “To mitigate tariff impacts and unlock the U.S.’ $20 trillion market, Nigerian businesses can deploy three strategies: trade partnerships, leveraging existing trade agreements which saved Nigerian exporters $50 million in duties last year, and embracing e-commerce,” he said.

    Both Chioke and Olowokere agree that the role of Nigerian policymakers is crucial. From removing export bottlenecks to stabilising infrastructure, they maintain that the government must create an enabling environment for Nigerian products to thrive globally.

  • Minister urges Nigerians to embrace investment opportunities in Liberia

    Minister urges Nigerians to embrace investment opportunities in Liberia

    AS the United States and other Western countries are closing their doors to African businesses and people, Nigerian investors have been urged to come in and invest more in Liberia’s economic sector.

    This came as Nigeria and other African countries were advised to boost their integration and cooperation for mutually-beneficial cooperation.

    Liberia Minister of Finance & Development Planning Augustine Ngafuan made these calls in Lagos at the weekend at the Nigerian Institute of International Affairs (NIIA) while speaking with Nigerian investors and researchers on the abundant investment opportunities in his country.

    He also visited the Nigeria Stock Exchange where he and his delegation also canvassed the same call.

    During the Liberian civil war, Ngafuan said the Nigerian government made a lot of contributions through the Economic Community of West African States (ECOWAS), when it deployed the Economic Community Cease-Fire Monitoring Group (ECOMOG) in 1990 and the United Nations Mission in Liberia (UNMIL), established in 2003, which played a crucial role in restoring peace and security in the country.

    “We lost, in the space of almost 14 years, more than 200,000 of our people,” Ngafuan said.

    The minister, while paying respect to many Nigerians who also lost their lives during the war, said: “And I cannot make any further comment without paying respects to the many young Nigerian men and women, whose blood were scattered around Liberia. They sacrificed and fertilised the Liberian soil for democracy. Some of them died so that Liberia could live. So, I pay tribute to all Nigerians who sacrificed their lives for us.

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    “Some of them could not be repatriated; they were buried in our country…”

    He also recollected that his brother like many Liberians, who came to Nigeria on a ship during the war, lived in Oru town in Ogun State before gaining admission into Obafemi Awolowo University, Ile-Ife.

    Ngafuan added that Liberia would not go back to war since democracy is succeeding with three successive leaderships.

    “The main focus of my conversation is on investment opportunities in Liberia, with the aim of encouraging Nigerians with business intentions to look in the neighbourhood of Liberia,” he said.

    He asserted that Liberia is opening up for investors in its mining industries, constructions, power and energy, banking and finance, information technology and payment system and others, asserting that investors are repatriating their profits without problems.

    “It is time for Nigerian investors to come in and invest more in our country’s critical economic sector,” he said.

    Saying that trading by Nigerians had blossomed in Liberia, the minister argued that the pace must be quicken for more integration in the areas of air, road and water transportation, free visa, one continental passport to enhance free movement of people, goods and services across the continent.

  • Trump threatens China with further 50% tariffs

    Trump threatens China with further 50% tariffs

    As global trade and tariff war rages on, US President Donald Trump Monday threatened to impose an additional 50% tariff on China, should Beijing fail to withdraw its 34% retaliatory tariffs on the US.

    China announced on Friday that it would be imposing tariffs on Washington after the White House said that from 9 April it’d put 34% levies on all goods from Beijing.

    If enacted, many US companies bringing in goods from China face a tax of at least 104% – roughly doubling their cost in a matter of months.

    Read Also: Trump and the Nigerian Christian

    Meanwhile, European Commission chief Ursula von der Leyen said that Europe is ready to negotiate with Washington.

    She stressed that they’ve offered “zero-for-zero tariffs” for industrial goods the bloc exports to the US.

    The bloc is “always ready for a good deal”, she says, adding that they are prepared to respond with countermeasures.

    As a reminder, the EU was identified by President Donald Trump as one of the “worst offenders” and it’ll face 20% tariffs on goods it sells to the US. It’s also subject to 25% tariffs on its steel, aluminium and derivative products.

    Von der Leyen says the EU will “protect ourselves against indirect effects through trade diversion.”

  • Niger Delta activists storm London, demand justice for slain Tantita coordinator Udo

    Niger Delta activists storm London, demand justice for slain Tantita coordinator Udo

    Activists from the Niger Delta Environmental Justice Coalition staged a peaceful protest in London, demanding justice for Ikerete Udo, a coordinator with Tantita Security Services Ltd., who was brutally murdered by suspected oil bunkerers.

    During a petition delivery at the Nigerian High Commission in the UK, coalition spokesperson Mrs. Busayo Charles expressed deep sorrow and anger over Udo’s killing, which she blamed on the persistent oil theft and sabotage plaguing the Niger Delta.

    “Udo was killed in the line of duty while protecting Nigeria’s oil pipelines,” she said, calling on the Nigerian government to urgently investigate the incident and prosecute those responsible. 

    She also appealed for financial compensation to be provided to Udo’s grieving family. “Nigeria is a just and fair country, and I believe justice will be done,” she added.

    The petition stressed the need for accountability, urging the Nigerian Ambassador to ensure the matter is escalated back home. “It is vital to deter future violence against those safeguarding Nigeria’s vital oil assets,” the statement read.

    In addition, the coalition called for the investigation of individuals accused of inciting unrest in the Niger Delta and launching media attacks against High Chief Government Ekpemupolo (Tompolo), Chairman/CEO of Tantita Security Services, and Dr. Dennis Brutu Otuaro, Administrator of the Presidential Amnesty Programme.

    Read Also: Troops arrest 43 oil thieves, seize 254,000 litres of stolen products in Niger Delta

    They urged the Nigerian High Commission to collaborate with authorities back home to probe these figures for possible roles in the region’s instability and criminal activities.

    While commending Tantita Security Services for supporting Udo’s family, the coalition insisted that the federal government must also step in. 

    “He lost his life courageously protecting the nation’s oil pipeline from thieves. The least the government can do is offer financial support to the family he has left behind,” the petition read.

    “It is important that those inciting violence and criminality are held accountable, both in Nigeria and internationally,” Mrs. Charles concluded.

    Officials at the Nigerian High Commission acknowledged the peaceful protest and assured the coalition that the petition would be forwarded to the relevant Nigerian authorities.

  • Trade wars benefit no nation, cooperation is the future – Yuqing

    Trade wars benefit no nation, cooperation is the future – Yuqing

    The Consul General of the People’s Republic of China in Lagos, Yan Yuqing, has called for stronger trade cooperation among nations, stressing that trade wars serve no country’s interest.

    In a statement issued on Monday in Lagos, Yuqing criticized the United States for repeatedly undermining globalization under the guise of addressing “trade imbalance” and “national security” concerns, leading to the imposition of tariffs on multiple countries.

    She noted that the U.S. had recently extended these tariffs to virtually all its trading partners, including China, using various justifications. 

    “These actions severely infringe on the legitimate rights and interests of all countries, violate World Trade Organization (WTO) rules, weaken the rules-based multilateral trading system, and disrupt the global economic order,” she said. “The Chinese government strongly condemns and firmly opposes such moves.”

    Yuqing emphasised that unilateral tariff increases erode the foundation of multilateral trade and warned that externalising domestic issues will not bring lasting solutions.

    Yuqing added ” By taking such actions, the United States defies the fundamental laws of economics and market principles, disregards the balanced outcomes achieved through multilateral trade negotiations, ignores the fact that the U.S. has long benefited substantially from international trade, and weaponizes tariffs to exert maximum pressure for selfish interests. 

    “This is a typical act of unilateralism, protectionism and economic bullying. Under the guise of “reciprocity” and “fairness,” the United States is playing a zero-sum game, pursuing in essence ‘America First’ and ‘American exceptionalism.’ 

    ” It attempts to exploit tariffs to subvert the existing international economic and trade order, put U.S. interests above the common good of the international community, and advance U.S. hegemonic ambitions at the cost of the legitimate interests of all countries. Such actions will inevitably face widespread opposition from the international community. 

    Read Also: China-Nigeria bilateral relations boost Africa’s development – Yan Yuqing 

    She stated further ” Development is an inalienable right of all countries, not the exclusive privilege of a few. International affairs should be addressed through consultation, and the future of the world should be decided by all countries. All countries should uphold the principles of extensive consultation, joint contribution and shared benefit. They should practice true multilateralism, jointly oppose all forms of unilateralism and protectionism, and defend the U.N.-centered international system and the WTO-centered multilateral trading system. 

    ” China and Africa are Pillars in Upholding the Legitimate Rights of Developing Countries and Safeguarding Multilateralism and International Fairness and Justice. China stands ready to work hand in hand with Africa under the frameworks of the Belt and Road Initiative, the Forum on China-Africa Cooperation (FOCAC), BRICS, and other bilateral and multilateral mechanisms. Together, we will actively participate in the reform and development of the global economic governance system, firmly oppose unilateralism and economic bullying, and jointly defend the multilateral trading system. We are committed to upholding a fair and free trade environment, expanding the shared interests of the Global South, and injecting greater certainty and positive momentum into global economic stability and growth. China and Africa will continue to advance economic globalization toward a direction that is more open, inclusive, balanced, and beneficial to all”.

  • Israel denies two UK MPs entry

    Israel denies two UK MPs entry

    Two British members of parliament who were refused entry to Israel have returned to London.

    Abtisam Mohamed and Yuan Yang from Britain’s governing Labour Party were travelling as part of a parliamentary delegation, but were stopped at the border on the grounds that they intended to provoke anti-Israel activities, according to the Israeli embassy in Britain.

    The blocking of their visit marks the latest in a series of attempts by Israel to restrict entry of foreign lawmakers and dignitaries who have criticised the country’s policies.

    “We’re astounded at the unprecedented step taken by the Israeli authorities to refuse British MPs entry on our trip to visit the occupied West Bank,” Mohamed and Yang said in a joint statement.

    “It is vital that parliamentarians are able to witness, firsthand the situation in the occupied Palestinian territory.”

    The Israeli embassy in London said the interior ministry had a duty to prevent entry to people who intended to cause the state harm.

    “These individuals had accused Israel of false claims, were actively involved in promoting sanctions against Israeli ministers, and supported campaigns aimed at boycotting the State of Israel,” the embassy said.

    Read Also: Khamenei pledges ‘firm retaliatory response’ to U.S., Israel

    In their statement yesterday, Mohamed and Yang said they had spoken out in Britain’s parliament about the conflict between Israel and Palestine and the importance of complying with international law.

    “Parliamentarians should feel free to speak truthfully in the House of Commons, without fear of being targeted,” they said.

    In November, Mohamed asked Britain’s government if it would review its relationship with Israel in light of “atrocities taking place in Gaza, the West Bank and in Lebanon”.

    Britain’s Foreign Secretary David Lammy said the detention of lawmakers Mohamed and Yang was no way to treat parliamentarians.  

  • Why US needs to reverse tariffs on China, by GMIA

    Why US needs to reverse tariffs on China, by GMIA

    The Goods Made-in-China Importers Association (GMIA), a Nigerian trade and commerce body, has appealed to the United States government to withdraw the 34% tariff imposed on Chinese imports, warning that the move has already triggered retaliatory measures from China.

    In a statement personally signed on Friday, GMIA Chairman Charles Udeogaranya urged the US to reconsider the tariffs for the sake of global economic stability. 

    He stressed that the escalating trade tensions could worsen the already fragile global economy, particularly affecting developing nations in Africa.

    Read Also: China to impose additional 34 percent tariffs on all imported U.S products April 10

    “The global economy has yet to fully recover from the recession caused by the COVID-19 lockdowns. The last thing the world needs is another downturn sparked by a trade war,” Udeogaranya warned, calling on Washington to pursue more cooperative economic strategies.

    “We strongly believe that China and the US should be the best of friends for the common economic gains and peaceful world, but tariffs and disrespect or undermining nation’s territorial integrity as often breached by the US on Taiwan, has no place in these”.

  • Trump tariffs send global stocks crashing for second consecutive day

    Trump tariffs send global stocks crashing for second consecutive day

    • China slams tariffs on all imported U.S. products starting April 10

    US President Donald Trump’s tariffs’  policy sent global stocks crashing for a second consecutive day yesterday. 

    Stock markets in Asia, Europe and the US fell steeply in response to Trump’s policy, with the US market facing its worst two-day stretch since 2020.

    A report by npr.org said the Wall Street plummeted for a second straight day on Friday, as Trump’s tariffs escalated a global trade war and wiped out trillions of dollars in value from the U.S. stock market.

    It said : “The two-day selloff served as the financial community’s most brutal warning yet about the potential fallout of Trump’s trade policy. Investors, businesses, and consumers are all expressing mounting terror about how these sweeping new taxes could upend the global economy.

    “The Dow Jones Industrial Average dropped over 2,200 points — or 5.5% — after dropping almost 4% on Friday. The tech-heavy Nasdaq and the benchmark S&P 500, which tracks the largest U.S. companies, each also tumbled nearly 6% on Friday. All told, the U.S. market lost more than $6 trillion in value over the past two days, according to the Wall Street Journal.”

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    Trump shocked businesses, investors, and global trading partners on Wednesday, when he announced that his long-promised tariffs would affect almost all U.S. imports. He has imposed the taxes on U.S. allies and foes alike: Most U.S. imports will now face tariffs of at least 10 percent, with higher taxes on goods from the European Union, Japan, China, and dozens of other countries.

    China, however,  seems to be spoiling for trade and tariff war with the U.S, as the Chinese government plans to impose a 34% tariff on all imported U.S products starting from April 10 2025.

    This is a reciprocal measure to the universal tariffs imposed by the United States — a 10-percent “minimum baseline tariff” to be imposed on all imports — which will take effect on April 5, and the “individualized reciprocal higher tariff” on the countries and regions with which the United States “has the largest trade deficits” will take effect on April 9, according to a White House document.

    It had earlier urged the United States to correct its wrongful imposition of “reciprocal tariffs,” and address economic and trade differences with China and other countries through equal, respectful, and mutually-beneficial negotiations.

    The Chinese foreign ministry spokesperson, Guo Jiakun said at a regular press briefing on Thursday that there is no winner in a trade and tariff war.

    He also stressed that US action seriously violated World Trade Organization regulations and severely undermined the rules-based multilateral trading system.

     “The Chinese side firmly opposes this and will take necessary measures to resolutely safeguard its legitimate rights and interests,” said the spokesperson, reiterating that there is no winner in a trade or tariff war, and that protectionism offers no solution.

    “China firmly rejects this and will do what is necessary to defend our legitimate rights and interests.

    “We have emphasized more than once that trade and tariff wars have no winners. Protectionism leads nowhere. We urge the U.S. to stop doing the wrong thing, and resolve trade differences with China and other countries through consultation with equality, respect and mutual benefit.

    “As I just said, trade wars and tariff wars have no winners, and protectionism will lead nowhere. The U.S. needs to correct its wrongdoings and resolve trade disputes with countries, including China, through consultation with equality, respect and mutual benefit.

    “Let me stress that the U.S.’s unilateral tariff hikes violate WTO rules, undermine the common interests of people of all countries, and do no help to solve its own problem. It is clear that more and more countries have come to stand against the U.S.’s tariff hikes and other unilateral bullying moves.”

  • Canada will match Trump’s 25% auto tariff, says PM Carney

    Canada will match Trump’s 25% auto tariff, says PM Carney

    • EU leaders condemn U.S. trade war

    A day after United States President Donald Trump’s Liberation Day tariff rollouts, Canadian Prime Minister Mark Carney said Thursday that Canada will match U.S. President Donald Trump’s 25 percent auto tariffs with a tariff on vehicles imported from the United States.

    This came as Spain’s Prime Minister Pedro Sanchez led European leaders in condemning Donald Trump’s sweeping tariffs.

    Sanchez, whose country sells large amounts of car parts, steel and chemicals to the U.S., described the move to bring in reciprocal tariffs on imported goods from the EU as “unintelligent” and “a return to 19th-Century protectionism”.

    On March 27, Trump announced sweeping plans to impose a permanent 25 percent tariff on all cars imported into the United States. The tariffs will take effect on April 2.

    Addressing the reporters at the White House, the president said, “What we’re going to be doing is a 25 per cent tariff on all cars that are not made in the United States.

    This will be permanent” while adding, “We start off with a 2.5 per cent base, which is what we’re at, and go to 25 per cent.”

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    Commenting on the neighbouring nation’s relentless tariff move, Carney said, “Given the prospective damage to their own people, the American administration should eventually change course,” Carney said. “Although their policy will hurt American families, until that pain becomes impossible to ignore, I do not believe they will change direction, so the road to that point may indeed be long. And will be hard on Canadians just as it will be on other partners of the United States.”

    Trump’s tariffs set a baseline tariff of 10 per cent on all goods coming to the U.S. – but many countries saw the percentage rise further, such as China which was landed with a 34 per cent tariff.

    Yesterday, EU leaders reacted with disappointment as they faced questions on how they would respond to protect their economies.

    “This tariff attack by the US administration makes no distinction between friends and enemies, it doesn’t discriminate based on ideology or trade balance; it’s against everyone and everything,” said Sanchez.

    Spain’s comments were the latest in a string of condemnations from EU leaders which included a sharp rebuke from European Commission President Ursula von der Leyen, who said consequences “will be dire for millions of people”.

    Manfred Weber, president of the bloc’s largest party, EPP, said: “To our American friends, today isn’t liberation day – it’s resentment day. Donald Trump’s tariffs don’t defend fair trade; they attack it out of fear and hurt both sides of the Atlantic. Europe stands united, ready to defend its interests, and open to fair, firm talks.”

     “The recent tariffs decision by the US resident is in my view fundamentally wrong and it is an attack on a trade system that has created prosperity all round the world, itself an American achievement,” he said.