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Zhongfu is an impostor, its Chinese against Chinese dispute – Amosun

Former Ogun State Governor, Ibikunle Amosun, has accused Zhongfu International Investment FXE of being an impostor, alleging that the Chinese firm is involved in a scheme to defraud the Nigerian government.

Zhongshan Fucheng Industrial Investment Co. Limited, a Chinese firm, obtained a court injunction to ground three presidential jets belonging to the Federal Government in Europe.

Amosun, in a statement on Saturday, described the issue as a “Chinese against Chinese dispute” with Zhongfu falsely presenting itself as a legitimate stakeholder in the zone.

Amosun claims the crisis began in 2011 when two Chinese companies, China Africa Investment FXE and Zhongfu International Investment FXE, engaged in a bitter rivalry over the management of the OGFTZ.

The former governor alleged that Zhongfu had resorted to “damaging and destructive” tactics, including making false accusations against China Africa Investment FXE to secure an interim management role in 2012.

He maintained that the Ogun State government under his administration acted in good faith based on the information available at the time.

Amosun dismissed claims of harassment and intimidation, attributing such incidents to the rivalry between the two Chinese companies and called on the government to treat the Zhongfu case with the same seriousness as the P&ID scandal, insisting that there is no basis for negotiation with the company.

He stated, “We have read various media accounts of the above in both print and social media. We have also read and aligned with the very appropriate responses from Ogun State and the Federal Government. At different levels, Government is a continuum and the various segments of events leading to this unfortunate situation occurred before, during and after our administration.

“Our administration assumed office on 29 May, 2011. Very shortly after we took office, two different sets of Chinese companies, Messrs China Africa Investment FXE and Zhongfu International Investment FXE laid claims to Management rights over the Ogun Guangdong Free Trade Zone (OGFTZ). The business dispute and rivalry between Chinese concerns soon became fierce, grounded seamless business activities, and threatened public peace and safety within the Zone and neighbouring communities.

“There were claims and counter claims as to who between the two was the lawful representative of the original joint venturer, Guangdong Province, China and consequentially, who had the right to manage the Zone.

“Zhongfu International Investment FXE, pretending to be a concerned and genuine tenant and Zone stakeholder volunteered very damaging and destructive information about the official representatives of Guangdong Province, the Joint Venturer and lawful Zone Managers, China Africa Investment FXE and subsequently requested to be appointed as Interim Zone Managers.

“Based on the information at the government’s disposal, Zhongfu International Investment FXE was appointed interim zone manager on March 15, 2012, pending further evaluation. The idea was to ensure that someone was in charge and thereby prevent unwholesome and untoward development in the Zone pending the completion of our fact-finding exercise.

“It was later discovered that the information and claims volunteered by Zhongfu International Investment FXE against China Africa Investment FXE were tissues of lies.

“Unknown to Ogun government at the time, Zhongfu International Investment FXE merely sought to de-market China Africa Investment FXE and to surreptitiously covet the State-owned assets of Guangdong Province in China together with the Zone ownership and management rights of their business rival.

“It was further discovered – much later – through the intervention of the Chinese Government via Diplomatic Note 1601, dated 11 March, 2016.

“The Government of the Peoples Republic of China, via its Diplomatic Note 1601 dated 11 March 2016, clarified to the Ogun State Government that China Africa Investment FXE was the rightful investor. After consulting with the relevant government organs, we followed the Chinese government’s request.

“We do recall, that Zhongfu International Investment FXE approached Nigerian courts in different jurisdictions to ventilate its legal and business rights. They lost all their four cases in court.

“We also consulted with and took advice from the State Security Services and the supervising Agency, NEPZA, on the best way to proceed. Accordingly, we served Zhongfu International Investment FXE with formal Termination Notice dated 27 May, 2016.

“For the completeness of records, we would like to mention that Zhongfu International Investment FXE went to court.

“The proceedings in Suit Nos HCT/417/2016: Zhongfu International Investment FXE Vs OGFTZ and FCT/ABJ/CS/601/2016: Zhongfu International Investment FXE Vs NEPZA & Ors will help to shed light on this business dispute between two Chinese entities, Zhongfu and China Africa.

“The final judgement in one other case, Suit No AB/04/2017: Zenith Global Merchant International Investment Ltd Vs Zhongfu International Investment FXE delivered on 29/3/2017 specifically restrained a reference to arbitration in the special circumstances of the matter being a trade dispute between two Chinese entities- Zhongfu and China Africa, with little or no connection with either Ogun State or the Federal Government.

“Not satisfied with the decisions of the various courts, Zhongfu International Investment FXE took its case, and wrote petitions at various times, to higher authorities in Abuja; the Presidency, Hon Minister of Trade & Investment; Attorney General & Minister of Justice, Inspector General of Police, EFCC, and the National Assembly (both the House of Representatives and the Senate) among others.

“We successfully defended our actions at all levels before these organs of government, and they all agreed with our position. Shortly after, our administration left office in May, 2019.

“In conclusion, without prejudice to the ongoing efforts of the Ogun State Government and the Federal Government of Nigeria, and with all sense of responsibility I wish to categorically state that:

“The agreement that was entered into at inception of the Zone in 2007 with our predecessor is what is still in operation and there was no need for any negotiation or re-negotiation of any contract when we came in and throughout our eight (8) years tenure.

” It is also not true that our administration sent police or any security agent to harass, intimidate, or beat anyone. If there was any such situation, it must have been from among the disputing rivals in the bid to outdo one another. Security agencies can further investigate the allegation and uphold the truth.

Nigeria should not give Zhongfu International Investment FXE any listening ear as doing so would amount to indulging and, encouraging an unlawful entity without locus standi to appropriate our common patrimony.

“Stemming from the above, this matter of Zhongfu International Investment FXE should be treated the way Nigeria treated the P&ID case. There is no basis for negotiation.

” I am ready to work with government agencies in any capacity to ensure that Zhongfu International Investment FXE, or any other entity, does not scam Nigeria.

“Like every Nigerian, we are concerned that a purely business dispute between two Chinese nationals and corporations has now degenerated into an unlawful attempt to appropriate Nigeria’s sovereign assets.This is unacceptable to all people of goodwill and must not be allowed to stand.”

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65% of Nigeria’s poor people live in North – ActionAid

An analysis of Nigeria’s Multidimensional poverty index by ActionAid Nigeria has revealed that about 65 percent of poor people, that is 86 million people live in the northern part of the country, while 36 percent, nearly 47 million people live in the South.

The analysis indicated the poorest states in the country to include Sokoto, Bayelsa, Jigawa, Kebbi, Gombe, and Yobe, but cannot determine which of these states is the poorest.

The organisation disclosed this at the launch of its report on Austerity Measure, poverty and Gender Inequality in Nigeria in Abuja, saying Nigeria’s Multidimensional Poverty Index (MPI) for 2022 found that 63% of the population, amounting to approximately 133mn Nigerians, are multidimensionally poor.

Analysing the report, the Country Director of ActionAid Andrew Mamedu noted that Poverty and inequality do not just happen; they result from economic, social, and political decisions made by the state and citizens.

He said “The critical policy decisions reflected in the key macroeconomic indicators show the rate and trend of poverty and inequality. Extant Nigerian negative indicators on gross domestic product (GDP) growth, inflation, interest rate, unemployment, debts, and deficits, among others, can only lead to one direction, increased poverty.”

Mamedu further stated that the underlying cause of the current spate of poverty is rooted in the heavy burden of austerity measures, imposed as part of broader macroeconomic policies.

He disclosed that based on their research, from 2010 to 2020, Nigeria’s debt stock ballooned by over 300%, reaching a staggering ₦31 trillion by the end of 2020​ , and as of March 31st, 2024, debt stock stands at USD 91,463.99, an equivalent of N121, 670.49. trillion consuming 74% of government revenue and leaving little for vital sectors such as education, healthcare, and social protection​.

He pointed out that keeping large numbers of people excluded from access to economic resources, employment, healthcare, adequate food, clean water and sanitation, education, skills, and technology, will result in a reduction of future productive human potential.

He stressed that well-designed and sustained investments in areas such as maternal and child health, education, and social protection would yield significant dividends for society.

“Conversely, no society can expect to achieve sustained economic and social progress while significant numbers of its population often disproportionately women and girls – are poorly nourished, in poor health, and lack the education and/or skills needed for their own and their families’ development,” he stated

The Minister of Budget and National Planning Atiku Bagudu who was represented by the Director of Microeconomic Philip Okwonkwo wondered if poverty and inequality could be tackled at the same time.

He maintained that the issue of poverty is a global phenomenon as it is not unique to Nigeria and Africa alone and harped on the need for stakeholders to collaborate to empower the poor people in society.

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Tinubu Skips UNGA, Shettima to Lead Nigeria’s Delegation

The Presidency has announced that President Bola Tinubu will not be attending the 79th United Nations General Assembly session in New York this year.

According to a statement released by his spokesperson, Bayo Onanuga, on Thursday, President Tinubu has decided to prioritise domestic issues and address the country’s challenges, particularly in the aftermath of the recent devastating flooding.

As a result, Vice President Kashim Shettima has been directed to lead Nigeria’s delegation to the UNGA 79.

During the session, which runs from September 24 to 28, 2024, Vice President Shettima will deliver Nigeria’s national statement to the General Assembly, participate in key sideline events, and engage in bilateral meetings.

The high-level general debate will focus on the theme “Leaving no one behind: Acting together for the advancement of peace, sustainable development and human dignity for present and future generations.

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Southwest pensioners reject N70k minimum wage, urge new negotiations

The Nigeria Union of Pensioners, South West zone, on Thursday rejected the N70,000 minimum wage that the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) negotiated, which was signed into law by President Bola Tinubu.

They urged organised labour to return to the negotiating table while blaming them for allowing the Federal Government to trick them into accepting the amount in the first place.

The NUP Southwest noted that before the N70,000 was even implemented, the federal government had gone ahead to further increase the price of petrol, saying that the NLC and TUC that went into that negotiation were blindfolded and naïve.

The pensioners also said that they wholeheartedly support the autonomy of the local government, provided that whatever arrangement is being put in place, the pensions of primary school teachers and the local government pensioners at the local level are not to be tampered with.

The NUP Zonal Public Relations Officer and Secretary of Oyo State NUP, Dr Olusegun Abatan, stated this in Ado-Ekiti, the Ekiti State capital, while addressing newsmen after the zonal meeting of the pensioners.

He said that labour leaders ought to be more clever when dealing with politicians.

“There are two burning issues that we need to put forward to the public domain. The first issue is the agreement between labour and the Federal Government over the minimum wage of N70,000,” he said.

“The NUP Southwest debated it extensively and we found out that before the N70,000 was even implemented, the federal government had gone ahead to further increase the price of petrol. And we concluded that the two labour centres that went into that negotiation were blindfolded; they went there naïve.

“They forgot that when you are dining with the devil, your spoon must be very long, and when you are dining with the politicians, your spoon must be longer than that of the devil. So, the federal government took advantage of their naivety and the inexperience of Comrade Ajaero and Osifo by tricking them into accepting N70,000 and that they would not increase fuel prices.

“But no sooner did they agree than the federal government went ahead to increase the price. To that extent, the NUP Southwest is rejecting the minimum wage that the labour has negotiated and advises that they should go back to the negotiating table and insist on the N250,000 they initially wanted.

“What is the value of N70,000? It is just about sixty litres of fuel. We say they should return to the negotiating table, and if going on strike will bring about an improvement, then we will support it. These people are not reducing their level of enjoyment; rather, their level of profligacy is increasing minute by minute. It is only the workers that are expected to tighten their belts; they don’t even have belts because their stomachs are too big to take a belt.”

On Local Government Autonomy, Abatan said, “NUP wholeheartedly supports it. But with the condition that whatever arrangement is being put in place, the pensions of primary school teachers and the local government pensioners at the local level are not to be tampered with. The salaries of working teachers should also continue. The salaries of LG workers and allowances of the traditional rulers should be taken care of as the first-line charges.”

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Nigeria’s Super Eagles maintain 39th position on World Rankings

Super Eagles

Nigeria’s Super Eagles have retained their 39th position in the latest FIFA men’s world rankings released on Thursday. During the review period, the Super Eagles played two matches.

They secured a 3-0 victory over the Cheetahs of Benin Republic and were held to a 0-0 draw by the Amavubi of Rwanda. Both matches were qualifiers for the 2025 Africa Cup of Nations.

On the African continent, the three-time AFCON champions are ranked sixth.

The top five teams in Africa are Morocco, Senegal, Egypt, Cote d’Ivoire, and Tunisia.

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Trending Kitchen Styles of 2024: Latest Design Inspirations

The kitchen, often considered the heart of the home, has evolved into a space where functionality meets style. As we navigate the ever-changing landscape of interior design, 2024 brings forth a fresh wave of kitchen trends that blend innovation, sustainability, and timeless elegance. In this article, we’ll delve into the most sought-after kitchen styles, exploring their defining features, materials, and color palettes to inspire your next renovation or design project.

1. Modern Farmhouse

Characterized by:

  • Exposed beams and shiplap.
  • Rustic wood accents.
  • Matte black fixtures.
  • Soft neutral color schemes.

Image: A modern farmhouse kitchen featuring reclaimed wood cabinets, metal pendant lights, and a large island.

2. Industrial Chic

Defined by:

  • Exposed brick and concrete.
  • Metal accents and piping.
  • Reclaimed wood.
  • Bold color contrasts.

Image: An industrial-chic kitchen showcasing metal beam ceilings, concrete countertops, and vintage appliances.

3. Coastal Cool

Features:

  • Light, airy color palettes
  • White or pastel-hued cabinets
  • Natural textures (woven baskets, jute rugs)
  • Glass or stainless steel accents

Image: A coastal kitchen with soft blue cabinets, white marble countertops, and a nautical-themed backsplash.

4. Mid-Century Modern

Characterized by:

  • Clean lines and minimal ornamentation
  • Walnut or teak cabinetry
  • Retro-inspired appliances
  • Bold, geometric patterns

Image: A mid-century modern kitchen featuring walnut cabinets, vintage-style lighting, and a geometric-tiled backsplash.

5. Scandinavian Minimalism

Defined by:

  • Light woods (birch, beech)
  • Minimal ornamentation
  • Functional, handle-less cabinets
  • Monochromatic color schemes

Image: A Scandinavian-inspired kitchen with birch cabinets, a minimalist island, and sleek, handle-less drawers.

6. Rustic Reimagined

Features:

  • Reclaimed or distressed wood
  • Earthy color palettes
  • Natural stone or brick
  • Vintage decorative accents

Image: A rustic kitchen with reclaimed wood cabinets, natural stone countertops, and vintage metalware.

7. Smart Kitchens

Characterized by:

  • Integrated smart home technology
  • Touchless faucets and voice-controlled appliances
  • High-gloss finishes
  • Sleek, modern cabinetry

Image: A smart kitchen featuring touchless faucets, voice-controlled lighting, and a sleek, high-gloss island.

8. Sustainable Kitchens

Defined by:

  • Eco-friendly materials (recycled glass, bamboo)
  • Energy-efficient appliances
  • Water-conserving fixtures
  • Natural, non-toxic finishes

Image: A sustainable kitchen showcasing recycled glass countertops, bamboo cabinets, and energy-efficient appliances.

As we explore these trending kitchen styles, remember to balance functionality with personal taste. Whether you’re drawn to modern farmhouse charm or Scandinavian minimalism, incorporate elements that reflect your lifestyle and aesthetic preferences. With inspiration from these designs, create a kitchen that’s both beautiful and functional – the perfect heart of your home.

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OPEC Boss: High Taxes, Not Oil Prices, Behind Global Fuel Price Increases

Fuel price hike

The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Haitham Al Ghais, has attributed rising fuel costs primarily to the taxes imposed by major oil-consuming nations, rather than the price of oil itself.

In a recent statement, Al Ghais clarified that fuel prices at the pump are influenced by multiple factors, including crude oil prices, refining, transportation, marketing costs, oil company margins, and most notably, taxes.

His comments come at a time when Nigeria has witnessed several petrol price hikes over the past year.

The latest increase, announced by the Nigerian National Petroleum Company Limited (NNPC) on Monday, saw prices rise to between N950 and N1,019.22 per liter at its retail outlets.

Al Ghais emphasized that revenues generated by oil-producing countries are frequently reinvested into their domestic oil sectors, supporting activities such as exploration, production, and transportation.

However, he noted that governments in oil-consuming nations collect substantial revenue through taxes on petroleum products.

He pointed out that in 2023, taxes made up an average of 44 percent of the final retail fuel price in Organisation of Economic Co-operation and Development (OECD) countries, showing a year-on-year increase.

For many consumers, he explained, these taxes have a greater impact on their wallets than the crude oil price itself.

“It is the sovereign right of countries to set their own tax policies,” Al Ghais remarked.

“But when concerns arise about the impact of high fuel prices on people’s disposable income, it’s crucial to remember how much of the cost is due to taxes funneled to finance ministries globally.”

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