The Nation Newspaper

Tag: china

  • Emulate China, NEPC, NASENI urge Nigerians

    Emulate China, NEPC, NASENI urge Nigerians

    Nigerian Export Promotion Council (NEPC) has called on Nigerians to change their perspective about Made-in-Nigeria goods and services, saying negative perception and attendant poor patronage of home-made products remains a major obstacle to growing the economy.

    Speaking at the Strategic Focus Group Meeting on Made-in-Nigeria Products in Abeokuta, the Ogun State capital, the NEPC head of products and market department, Hadiza Kashiat, identified negative perception as the biggest challenge facing the market of Nigerian-made products and services.

    The focus group meeting was organised by the National Agency for Science and Engineering Infrastructure (NASENI) to bring together stakeholders—the manufacturers, academia, SMEs, and industry leaders—to explore ways to boost the productivity and acceptance of Made-in-Nigeria products and services.

    Read Also: Akpabio, Akpoti-Uduaghan and politics of allegations

    Kashiat urged Nigerians to emulate the Chinese, who prioritised local industries and patronized their products to achieve global economic dominance.

    She said a lot of made – in – Nigeria products are exported out of the country and rebranded in international markets under foreign labels which Nigerians buy and bring back to the country without knowing they were manufactured in Nigeria.

    She revealed that Nigeria has one of the best lubricants when compared to others globally, adding that Malaysia is still exporting palm oil from Nigeria, an attestation that quality home – made products and services abound in Nigeria but require a change of perception to get the needed acceptance.

    She stated, “We have to change our perspectives about Nigeria and made – in – Nigeria goods. We need to look in ward and understand that this is our country. A lot of made – in – Nigeria products are good, we might have some that are not yet there but a lot of them are good. I can speak from the aspect of products going out of the country.

    “A lot of products are exported and rebranded under foreign labels when they leave this country, yet we refuse to acknowledge their quality. We have our lubricants for instance. Nigerian lubricant is one of the best in the world when compared to other countries. We have our ginger and sesame seeds.

    “Malaysia is still coming to Nigeria to export palm oil out of this country due to its superior quality. So, that means we have quality made – in – Nigeria products in this country. We need to look at how we see made- in – products. If we say no to made – in – Nigeria products, how do we grow our economy? We can’t grow our economy if we refuse to buy.

    “China did not grow by abandoning its local products. At some point, the country locked its economy to develop its industries. Nigeria must do the same by supporting its manufacturers and consuming what we produce.”

    Also speaking, Babajide Sawyerr from NASENI’s Lagos Office said the engagement aligned with the agency’s mandate to drive economic growth through increased local patronage.

    Sawyerr noted that addressing the negative perception surrounding local goods requires a collective effort.

    “Yes, Nigerian-made products face challenges of stigmatization, but we are working with relevant stakeholders to change this perception. The truth is, many Nigerian products are of high quality, and we should patronise them to strengthen the economy,” he added.

    For Ibrahim Idris from the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), high energy cost, forex instability, poor research funding in universities, and the production of substandard goods are factors stymieing the country’s march to  industrial and economic growth.

  • China, Mexico, Canada retaliate as Trump’s 25% tariffs on goods take effect

    China, Mexico, Canada retaliate as Trump’s 25% tariffs on goods take effect

    China, Mexico and Canada yesterday responded to tariffs imposed by the United States with retaliatory levies.

    China announced retaliatory tariffs of up to 15% on some U.S. imports and restrictions on dual-use exports to 15 American companies.

    Beijing’s Ministry of Finance said it will impose a 15% tariff on 29 U.S. chicken, wheat, corn and cotton products, such as fresh or frozen chicken, wheat flour and combed and uncombed cotton.

    Read Also: Why proof of funds for UK, US visa applications in Nigeria is important, by expert

    A 10% tariff will also be imposed on 711 U.S. sorghum, soybean, pork, beef, seafood, dairy and fruit and vegetable products, it said.

    In conjunction, the commerce ministry announced the restrictions on dual-use exports to 15 American companies, including Leidos, General Atomics Land Systems, while adding 10 U.S. firms to its “unreliable entities” list.

  • China Achieves Space Refueling Technology: A New Era of “Space Equality” Dawns

    China Achieves Space Refueling Technology: A New Era of “Space Equality” Dawns

    On February 20, 2025, China’s Shijian-25 satellite successfully refueled the Beidou G7 satellite at an altitude of 30,000 km, extending the life of the satellite by eight years, which was approaching the end of its service life.

    What seemed like a routine space refueling actually marked a historic first: it was the first in-orbit refueling completed on a geostationary orbit in human space history. This milestone signifies the beginning of a new era in space infrastructure development. While NASA in the U.S. is still struggling with refueling technology for low Earth orbit, China has quietly broken the West’s half-century monopoly on this technological hegemony.

    The Beidou G7 satellite is a critical component of China’s Beidou global navigation system. Since its launch in 2015, it has exceeded its intended lifespan. Traditionally, when a satellite’s fuel runs out, the mission ends, and the satellite becomes space debris.

    However, the appearance of the Shijian-25 satellite changed this fate. Equipped with an advanced autonomous navigation system and robotic arm, the satellite is capable of precisely locating the target satellite in distress through radar and optical equipment. It can approach within two meters in “autopilot” mode and then use its robotic arm to connect to the fuel interface. By transferring just 50 kg of fuel, it can extend the target satellite’s life by about one year. Moreover, with 1.3 tons of fuel onboard, Shijian-25 can support multiple rescue missions, reducing the cost by 35% compared to launching a new satellite.

    Faced with China’s technological breakthrough, Western countries have shown mixed reactions. Space News in the U.S. openly expressed concerns about the “dual-use” nature of the Shijian-25, stating that its robotic arm and docking technology “could be used to interfere with or capture satellites from other countries.”

    Some European think tanks have criticized China for its “lack of transparency,” arguing that the absence of details about the mission “increases the risk of space militarization.” This rhetoric echoes the skepticism when the Shijian-21 satellite performed its “space tug” mission in 2024. At the time, China had moved a decommissioned Beidou satellite into a “graveyard orbit,” yet the West had sensationalized it as a “counter-satellite weapon test.”

    However, this anxiety may be rooted in a deeper competitive fear. The head of the American “Satellite Services Alliance” admitted, “China is defining the standards for the next generation of space infrastructure.” Currently, there are over 8,000 satellites in orbit globally, with 40% having exceeded their lifespan. If life-extension technology becomes widespread, the commercial launch market will face a major overhaul. Thanks to its low-cost, highly reliable Long March 3B rocket and the technical accumulation of the Shijian series satellites, China has already gained a head start in this transformation.

    Read Also: Nigeria, China sign €7.6b clean energy deal

    For developing countries, China’s technological breakthrough holds even more practical significance. The cost of manufacturing and launching a geostationary satellite typically exceeds $300 million, a sum many small countries cannot afford. The life-extension technology demonstrated by Shijian-25 dramatically reduces satellite operational costs, enabling resource-constrained countries to maintain space assets over the long term. This represents true “space equity.”

    Currently, China has been providing free navigation services to Africa and Southeast Asia through the Beidou system. If life-extension technology is incorporated into the “Belt and Road” space cooperation framework in the future, it could help more countries establish their own satellite systems.

    The success of Shijian-25 is, in essence, a demonstration of the values of “how to treat technology.” Through independent innovation, China has proven that space technology can be both a strategic tool in great power competition and a global public good. When the Beidou G7 satellite was reactivated, it was no longer just a navigation satellite; it became a beacon for humanity in breaking technological monopolies and exploring a win-win cooperative future.

  • Nigeria, China sign €7.6b clean energy deal

    Nigeria, China sign €7.6b clean energy deal

    Nigeria and China have signed a €7.6 billion (Euros) green hydrogen energy deal that will lead to a gradual transition from fossil fuels to clean energy, in line with global best practices.

    The agreement was signed at the weekend in Uyo, the Akwa Ibom State capital, between the Federal Government, APPL Hydrogen Limited (AHL), and a Chinese firm, LONGi Green Energy Technology Company Limited (LGETCL).

    The Minister of Innovation, Science and Technology, Chief Uche Nnaji, signed the agreement on behalf of the Federal Government while the Chief Visionary Officer (CVO) of APPL Hydrogen Limited, Mr. Idara Ekpo, endorsed the agreement for the company and the Vice President of LONGi (Europe), Francois Cui, led the Chinese delegation to close the deal.

    The project would be located within the Liberty Free Trade Zone (LFTZ) at Atabrikang in Ibeno Local Government Area of the state.

    Other members of his team were Monica Ping (Technical Director for Europe), Jim Huang (General Manager for Europe), and Arinze Onyeabo (Business Development Director for West Africa/Technical Manager for Europe).

    LONGi, according to the Memorandum of Understanding (MoU), is a world leader in clean energy transition, while AHL is a Nigerian company that provides clean and environmentally-friendly fuel.

    Nnaji said his visit to the project site and to witness the exchange of agreement “is a testament to the Federal Government’s commitment to advancing renewed energy, industrialisation and technology-driven innovation as key drivers of economic growth”.

    He added: “The project represents a significant step in Nigeria’s journey towards a sustainable energy future.

    Read Also: Beta Nigeria trains journalists, influencers to advocate for education reform in Kaduna

    “As the global energy landscape shifts towards cleaner alternative, investments in green hydrogen, green methanol and green ammonium production place Nigeria at the forefront of green energy innovation.”

    The minister listed the benefits of science and technology integration in the sector to include industrial development, job creation, foreign investment attraction, as well as establishing Nigeria’s position in the global energy market.

    According to him, the AHL project aligns with national priorities, particularly in fostering a robust research and development ecosystem that supports sustainable energy solutions.

    Nnaji stressed that “the Federal Government will collaborate with the Akwa Ibom State government in the areas of investment and technological advancement”.

    He called for synergy between public and private sector stakeholders to enable the project achieve the desired success.

    The Managing Director of Oil and Gas Free Trade Zone Authority, Alhaji Bamanga Usman Jada, described the project as “one that will diversify Nigeria’s economy, encourage export and help solve the issue of foreign exchange”.

    He added: “It will lead to technology transfer, create massive employment for our people, and it is environmentally friendly and sustainable.”

    The CVO of APPL Hydrogen Limited, Idara Ekpo, explained that his company was going into the green hydrogen project because the world is moving towards green hydrogen to mitigate the effect of climate change.

  • Nigeria, China sign 7.6b Euros clean energy deal

    Nigeria, China sign 7.6b Euros clean energy deal

    Nigeria and China have signed a €7.6 billion green hydrogen energy agreement aimed at gradually transitioning from fossil fuels to clean energy in line with global best practices.

    The landmark deal was formalized over the weekend in Uyo, Akwa Ibom State, between the Federal Government, APPL Hydrogen Limited (AHL), and LONGi Green Energy Technology Company Limited (LGETCL), a Chinese firm.

    Minister of Innovation, Science, and Technology, Chief Uche Nnaji, signed on behalf of the federal government, while Mr. Idara Ekpo, Chief Visionary Officer (CVO) of AHL, and Francois Cui, Vice President of LONGi – Europe, represented their respective companies.

    The project is set to be located within the Liberty Free Trade Zone (LFTZ) at Atabrikang in Ibeno Local Government Area of Akwa Ibom State.

    LONGi, a global leader in clean energy transition, and AHL, a Nigerian company specializing in environmentally friendly fuel, will collaborate to drive the initiative, as outlined in the Memorandum of Understanding (MoU).

    Speaking at the signing, Nnaji emphasized the project’s importance in Nigeria’s shift towards renewable energy, industrialization, and technology-driven economic growth.

    “This project marks a significant step in Nigeria’s journey towards a sustainable energy future,” he said.

    “As the global energy landscape shifts towards cleaner alternative, investments in green hydrogen, green methanol and green ammonium production place Nigeria at the forefront of green energy innovation,” he stressed.

    The minister listed the benefits of science and technology integration in the sector to include industrial development, job creation, foreign investment attraction, as well as establishing Nigeria’s position in the global energy market.

    According to Nnaji, the AHL project aligns with national priorities, particularly in fostering a robust research and development ecosystem that supports sustainable energy solutions, maintaining that ‘the federal government will collaborate with the Akwa Ibom State government in the areas of investment and technological advancement.”

    He, therefore, called for synergy between public and private sector stakeholders to enable the project achieve the desired success.

    Read Also: NASIDA trains Nasarawa SMEs on climate-smart business practices

    On his part, the Managing Director of Oil and Gas Free Trade Zone Authority, Alhaji Bamanga Usman Jada, described the project as “one that will diversify Nigeria’s economy, encourage export and help solve the issue of foreign exchange.”

    “It will lead to technology transfer, create massive employment for our people; and it is environmentally friendly and sustainable”, he added.

    Giving insight into the project, the CVO of APPL Hydrogen Limited, Engr. Idara Ekpo, explained that his company was going into the green hydrogen project because the world is moving towards green hydrogen to mitigate the effect of climate change.

    “From green hydrogen, APPL Hydrogen will be producing green methanol which is one of its kind in the world. We will be producing 1.2 metric tons per year of green hydrogen derivatives which is going to be green methanol for export. From that green methanol, we will have medical oxygen and food grade carbon dioxide”.

    The company, he disclosed, was working alongside eleven other international companies on the project.

  • Fed Govt urges China to remove trade tariff for Nigeria

    Fed Govt urges China to remove trade tariff for Nigeria

    The Federal Government has urged its Chinese counterpart to remove trade tariffs for Nigeria.

    China only recently announced removal of trade tariffs for 33 African countries.

    The Minister of State, Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, according to a statement by her media aide, Magnus Eza made the appeal during an audience with the Chinese Ambassador to Nigeria, Yu Dunhai, in Abuja.

    Mrs Odumegwu-Ojukwu, according to the statement, also expressed Nigeria’s readiness to industrialise.

    She therefore said Nigeria will collaborate with China to achieve economic diversification.

     “Amb. Odumegwu-Ojukwu therefore, appealed to China to remove trade tariffs for Nigeria as it had done for 33 other African countries,” the minister stated.

    She stated that Nigeria has had a robust relationship with China spanning over five decades, and noted that the Renewed Hope Agenda of President Bola Tinubu prioritises the diversification and strengthening of the nation’s economy.

    She highlighted the President’s commitment to strategic partnership with China mentioning establishment of electric vehicle plants, digital communication, renewable energy, all aspects of digital technology, and agriculture as major areas Nigeria needed Chinese support.

    Read Also: FG urges China to remove trade tariff for Nigeria

    She acknowledged China’s contribution to the development of road and rail infrastructure in Nigeria.

    The minister also stated that the country was taking tangible steps to improve its power sector and also modernise the ports, emphasising that all these will enable investments.

    The minister further expressed Nigeria’s resolve to expand cultural relations with China even as she pointed out that many Nigeria youth were inclined to learning Chinese Language.

     “It’s quite interesting that a large population of Nigeria youth is inching towards Chinese Language. A lot of Nigerian Universities are desirous to offer Chinese Language. Chinese had become the language of trade in the world. Nigeria-China will continue to relate not just bilaterally but multilaterally.

     “We expect that we will continue to get the support of China but we will always reciprocate that multilaterally.

     “In line with President Tinubu’s plan to industrialise Nigeria, we expect Chinese cooperation in establishing assembly plants of electric vehicles; digital communication, renewable energy, all aspects of digital technology, agriculture because of food insecurity as the government is interested in seeing that food gets to the poorest of the poor. Government is not just talking about food but has established a separate Ministry of Livestock.

     “Importantly, the minister said that the Renewed Hope Agenda is focusing on people-to-people contacts, country-to-country relations,” the minister stated

    On his part, the Chinese Ambassador acknowledged that it was important that the two countries met to review how far they have performed in their bilateral cooperation.

    He described Nigeria as a great country that had remained a strategic partner to China.

    Amb. Dunhai said that President Tinubu’s first official visit to China and participation in the Forum of China-Africa Cooperation (FOCAC), took the relationship between both countries to greater heights.

    The envoy said the two countries were cooperating in several areas including road development, railway modernisation, power, industrial parks, Lekki Sea Port and a lot more.

    He gladly informed that the volume of trade between Nigeria-China surpassed $21billion last year, while Nigeria’s export to the country exceeded 25per cent.

    The envoy said that manufacturing was central to industrialization, adding that the recently renewed $2billion currency swap in the area of financial cooperation, would strengthen cooperation and promote bilateral trade and investment between both countries.

    Amb. Dunhai was upbeat that these progressive efforts will eventually benefit the ordinary people.

    He said: “We have a comprehensive strategic partnership with Nigeria. China would want Nigeria to play a big role in the international scene. We want Nigeria to become a member of G-20. These will all provide opportunity for China and Nigeria to further work together closely.

     “For China, we have been very consistent. We give grant to any African countries; we don’t give any conditions.”

  • FG urges China to remove trade tariff for Nigeria

    FG urges China to remove trade tariff for Nigeria

    The Nigerian government has urged its Chinese counterpart to remove trade tariffs for Nigeria.

    China only recently announced the removal of trade tariffs for 33 African countries.

    The Minister of State, Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, according to a statement by her media aide, Magnus Eza disclosed this during an audience with the Chinese Ambassador to Nigeria, Yu Dunhai.

    Odumegwu-Ojukwu, according to the statement, also expressed Nigeria’s readiness to industrialise.

    She therefore said Nigeria will collaborate with China to achieve economic diversification.

    “Amb. Odumegwu-Ojukwu, therefore, appealed to China to remove trade tariffs for Nigeria as it had done for 33 other African countries,” the minister stated.

    She stated that Nigeria has had a robust relationship with China spanning over five decades, and noted that the Renewed Hope Agenda of President Bola Ahmed Tinubu prioritises the diversification and strengthening of the nation’s economy.

    Amb. Odumegwu-Ojukwu highlighted the President’s commitment to strategic partnership with China mentioning the establishment of electric vehicle plants, digital communication, renewable energy, all aspects of digital technology, and agriculture as major areas in Nigeria that needed Chinese support.

    She acknowledged China’s contribution to the development of road and rail infrastructure in Nigeria.

    The minister also stated that the country was taking tangible steps to improve its power sector and modernise the ports, emphasising that all these will enable investments.

    The minister further expressed Nigeria’s resolve to expand cultural relations with China even as she pointed out that many Nigeria youth were inclined to learning Chinese Language.

    “It’s quite interesting that a large population of Nigerian youth is inching towards Chinese Language. A lot of Nigerian Universities are desirous to offer Chinese Language. Chinese had become the language of trade in the world.

    “Nigeria-China will continue to relate not just bilaterally but multilaterally.

    Read Also: Rep reaffirms Nigeria’s commitment to One-China policy

    “We expect that we will continue to get the support of China but we will always reciprocate that multilaterally.

    “In line with President Tinubu’s plan to industrialise Nigeria, we expect Chinese cooperation in establishing assembly plants of electric vehicles; digital communication, renewable energy, all aspects of digital technology, and agriculture because of food insecurity as the government is interested in seeing that food gets to the poorest of the poor. Government is not just talking about food but has established a separate Ministry of Livestock,” the minister stated.

    “Importantly, the minister said that the Renewed Hope Agenda is focusing on people-to-people contacts, country-to-country relations.”

    On his part, the Chinese Ambassador acknowledged that it was important that the two countries met to review how far they have performed in their bilateral cooperation.

    He described Nigeria as a great country that had remained a strategic partner to China.

    Amb. Dunhai said that President Tinubu’s first official visit to China and participation in the Forum of China-Africa Cooperation (FOCAC), took the relationship between both countries to greater heights.

    The envoy said that the two countries were cooperating in several areas including road development, railway modernisation, power, industrial parks, Lekki Sea Port and a lot more.

    He gladly informed that the volume of trade between Nigeria and China surpassed $21billion last year, while Nigeria’s exports to the country exceeded 25%.

    The envoy said that manufacturing was central to industrialization, adding that the recently renewed $2billion currency swap in the area of financial cooperation, would strengthen cooperation and promote bilateral trade and investment between both countries.

    Amb. Dunhai was upbeat that these progressive efforts would eventually benefit the ordinary people.

    He said: “We have a comprehensive strategic partnership with Nigeria. China would want Nigeria to play a big role in the international scene. We want Nigeria to become a member of the G-20. These will all provide an opportunity for China and Nigeria to further work together closely.

    “For China, we have been very consistent. We give grants to any African countries; we don’t give any.”

  • First direct ship from China on way to Lagos port

    First direct ship from China on way to Lagos port

    PTML Terminal, the largest multipurpose terminal in West Africa, recently made history with the arrival of the MV Great Cotonou, the first Con-Ro (Container-Roll-on/Roll-off) vessel, which reached Lagos from Shanghai, China, in a record 27 days.

    The operators of the terminal said, this milestone marks a significant advancement in maritime trade between China and Nigeria, reducing transit times and enhancing logistics efficiency.

    Owned by global shipping giant Grimaldi Group, which also operates PTML Terminal, the MV Great Cotonou is set to transform regional trade by offering the fastest transit time on this route—just 27 days.

    Unlike other shipping services that require transshipment at intermediary ports, this direct service ensures faster and more reliable delivery for Nigerian importers, eliminating delays and additional handling costs.

    With this innovative service, Nigerian businesses can now receive not only containerised cargo but also vehicles—including cars, vans, trucks, and project cargo—all on the same vessel.

    This unique multimodal transport solution presents a substantial logistical advantage, streamlining supply chains and reducing overall costs for importers.

    PTML Terminal is well-equipped to handle this new service, boasting state-of-the-art facilities, easy port access, and a dedicated workforce to ensure seamless operations.

    The terminal’s highly efficient cargo-handling capabilities will further enhance the benefits of this direct shipping route.

    The vessel’s arrival was commemorated with a high-profile welcoming event attended by key figures in the maritime industry. Among those present were Andrea Grimaldi, representing the Grimaldi family, alongside Giampaolo Vitale, Line Manager, and Salvatore Califano, Director of Grimaldi. PTML’s Managing Director, Ascanio Russo, also attended the event, emphasizing the significance of this milestone.

    Speaking at the event, Russo stated: “The arrival of the Great Cotonou at PTML represents a pivotal moment for Nigerian importers.

     “This service will significantly reduce transit times and logistics costs while offering unmatched convenience by accommodating various types of cargo in a single shipment.”

    Read Also: First direct ship from China arrives Lagos port in 27 days

     “We have the infrastructure, the expertise, and the human capital, and we will offer great service to our importers and exporters.

     “The arrival of this ship and this new service will definitely create many more opportunities for our terminal, workers, host community, and Nigeria as a whole.

     “This is the largest container-RoRo ship coming to Africa, and we have upgraded our facilities to receive this kind of vessel.

     “We have recently acquired a massive mobile harbor crane costing more than USD 10 million. Additionally, we had to upgrade our infrastructure, including the quayside, with an investment exceeding USD 5 million just to accommodate these ships,” Russo said.

    Also speaking, Andrea Grimaldi said, “Our goal is to create a fast and efficient trade link between Shanghai and West Africa, particularly Lagos.

     “The Great Cotonou offers a direct connection with a rapid 27-day transit. We are starting with Shanghai, but as demand grows, we plan to expand our coverage to other Chinese ports and beyond.”

    With this groundbreaking development, Nigerian businesses and logistics operators now have access to a faster, more efficient, and cost-effective trade link with China

    Rhe direct Shanghai-to-Lagos route reinforces Lagos as a key hub in global maritime logistics, strengthening Nigeria’s position as a leading player in West African trade.

    As PTML Terminal continues to expand its service offerings, the launch of this direct shipping route, the operators of the terminal said, stands as a testament to its commitment to enhancing trade, boosting economic growth, and providing world-class logistics solutions in Nigeria.

  • First direct ship from China arrives Lagos port in 27 days

    First direct ship from China arrives Lagos port in 27 days

    PTML Terminal, the largest multipurpose terminal in West Africa, recently made history with the arrival of the MV Great Cotonou, the first Con-Ro (Container-Roll-on/Roll-off) vessel, which reached Lagos from Shanghai, China, in a record 27 days.

    The operators of the terminal said this milestone marks a significant advancement in maritime trade between China and Nigeria, reducing transit times and enhancing logistics efficiency.

    Owned by global shipping giant Grimaldi Group, which also operates PTML Terminal, the MV Great Cotonou is set to transform regional trade by offering the fastest transit time on this route—just 27 days.

    Unlike other shipping services that require transshipment at intermediary ports, this direct service ensures faster and more reliable delivery for Nigerian importers, eliminating delays and additional handling costs.

    With this innovative service, Nigerian businesses can now receive not only containerized cargo but also vehicles—including cars, vans, trucks, and project cargo—all on the same vessel.

    This unique multimodal transport solution presents a substantial logistical advantage, streamlining supply chains and reducing overall costs for importers.

    PTML Terminal is well-equipped to handle this new service, boasting state-of-the-art facilities, easy port access, and a dedicated workforce to ensure seamless operations.

    The terminal’s highly efficient cargo-handling capabilities will further enhance the benefits of this direct shipping route.

    The vessel’s arrival was commemorated with a high-profile welcoming event attended by key figures in the maritime industry. Among those present were Andrea Grimaldi, representing the Grimaldi family, alongside Giampaolo Vitale, Line Manager, and Salvatore Califano, Director of Grimaldi. PTML’s Managing Director, Ascanio Russo, also attended the event, emphasizing the significance of this milestone.

    Speaking at the event, Russo stated: “The arrival of the Great Cotonou at PTML represents a pivotal moment for Nigerian importers.

    Read Also: Lagos, WaterAid sign contract to revive water scheme

    “This service will significantly reduce transit times and logistics costs while offering unmatched convenience by accommodating various types of cargo in a single shipment.”

    “We have the infrastructure, the expertise, and the human capital, and we will offer great service to our importers and exporters.

    “The arrival of this ship and this new service will definitely create many more opportunities for our terminal, workers, host community, and Nigeria as a whole.

    “This is the largest container-RoRo ship coming to Africa, and we have upgraded our facilities to receive this kind of vessel.

    “We have recently acquired a massive mobile harbour crane costing more than USD 10 million. Additionally, we had to upgrade our infrastructure, including the quayside, with an investment exceeding USD 5 million just to accommodate these ships,” Russo said.

    Also speaking, Andrea Grimaldi said, “Our goal is to create a fast and efficient trade link between Shanghai and West Africa, particularly Lagos.

    “The Great Cotonou offers a direct connection with a rapid 27-day transit. We are starting with Shanghai, but as demand grows, we plan to expand our coverage to other Chinese ports and beyond.”

    With this groundbreaking development, Nigerian businesses and logistics operators now have access to a faster, more efficient, and cost-effective trade link with China

    The direct Shanghai-to-Lagos route reinforces Lagos as a key hub in global maritime logistics, strengthening Nigeria’s position as a leading player in West African trade.

    As PTML Terminal continues to expand its service offerings, the launch of this direct shipping route, the operators of the terminal said, stands as a testament to its commitment to enhancing trade, boosting economic growth, and providing world-class logistics solutions in Nigeria.

  • Trump tariffs spark retaliation from Canada, Mexico, China

    Trump tariffs spark retaliation from Canada, Mexico, China

    President Trump’s tariffs are meeting stiff retaliation from the nation’s largest trading partners, who are imposing their own tariffs on U.S. goods in a trade war that threatens to raise prices on both sides.

    Canada and Mexico, the United States’ biggest trading partners, announced plans to hit back against their 25% tariff.

    Meanwhile, China vowed to file a legal case against the U.S. at the World Trade Organisation and threatened counter-measures to the 10% tariff Mr. Trump imposed on all Chinese imports.

    The tit-for-tat raised concerns that a trade war would force American families to pay high prices for everything from gasoline to groceries, automobiles, electronics and toys. The fallout could also lead to higher inflation, further undermining the president’s campaign promise to lower prices.

    Mr. Trump said there could be some short-term pain from the tariffs, which are scheduled to go into effect Tuesday.

    He said it was a necessary step because of U.S. trade deficits with Mexico, Canada and China and to force the three nations to do more to address illegal immigration and illicit drugs, especially fentanyl, flowing into the U.S.

    Read Also: Eight Nigerian Artists to watch out for at 2025 Grammy Awards

    He continued: “Will there be some pain? Yes, maybe (and maybe not!). But we will Make America Great Again, and it will all be worth the price that must be paid.”

    Trump’s three targets for tariffs accounted for 41% of U.S. foreign trade as of November 2024, according to the U.S. Census Bureau. Mexico was the top trading partner at $776 billion or 15.9%, followed by Canada at $699 billion or 14.3% and China at $532 billion or 10.9%.

    Prime Minister Justin Trudeau said the tariffs violated the U.S.-Mexico-Canada Agreement that Mr. Trump negotiated in 2000 to replace the North American Free Trade Agreement of 1992.

    Trudeau also announced over $100 billion in retaliatory tariffs on U.S. goods. He said it would hurt Canadians but also “have real consequences for you, the American people … at the grocery store, gas at the pump.”

    On Sunday, he urged Canadians to “choose products made right here in Canada.”

    Canadian Ambassador to the U.S. Kirsten Hillman said Canadians are “confused” about why Trump is going after them when they have invested over $1 billion in border security.