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ideas have consequences

You are here:Home>>Items filtered by date: September 2018
 
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Nigeria’s foreign debt $22.08 billion and domestic N3.48 trillion.

 

According to the numbers coming from National Bureau of Statistics (NBS), Nigeria’s foreign debt currently stands at $22.08 billion.  While the domestic debt according to NBS stood at N3.48 trillion.


LAGOS STATE have both the  highest foreign and domestic debts. ANAMBRA STATE has the lowest:


The bureau said Lagos State has  the highest foreign debt profile among the 36 states while  the FCT accounts for 34.17 per cent. Edo has 6.57 per cent; Kaduna 5.48 per cent; Cross River 4.56 per cent and Bauchi followed closely with 3.18 per cent.


“Similarly, total domestic debt was N3.48 trillion with Lagos state accounting for 14.88 per cent of the total domestic debt stock,” it said. Anambra State has the least debt in this category with a contribution of 0.08 per cent.

 

NIGERIA'S STATE DEBTS FROM LARGEST DEBTOR (LAGOS) to LOWEST (ANAMBRA)

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Japan's Nissan Motor Co has signed U.S. Open champion Naomi Osaka as its next brand ambassador, the automaker said on Thursday, tapping the tennis star's youth, drive and Japanese roots to appeal to younger customers.




The deal further raises the profile of the 20-year-old Osaka, who shot to international fame when she defeated American Serena Williams on Saturday to become the first Japanese player to claim a Grand Slam singles crown. The biracial Osaka, who was born in Japan to a Haitian-born father and Japanese mother and raised mainly in the United States, has won over the Japanese public with her self-effacing, deadpan manner as much as her sheer tennis talent.



BLACK /BIRACIAL IDENTITY IN JAPAN


Therre is a growing number of Black Japanese includding  Nigerian Japanese Louis Okoye  who was born July 21, 1997 in Higashimurayama, Tokyo) is a Japanese professional baseball outfielder for the Tohoku Rakuten Golden Eagles in Japan's Nippon Professional Baseball.

Image result for louis okoye

Nigerian Japanese Louis Okoye

As a biracial Japanese, Osaka's leap into the limelight has brought hope to some "haafu," or half-Japanese, who have suffered discrimination and bullying in a largely ethnically homogenous country. Jun Soejima, a black Japanese with an afro who appears on NHK's breakfast show, believes Osaka's fame and positive reputation can help create greater acceptance for Japanese of diverse backgrounds.



"I think she can" help change social attitudes, said Soejima, whose father is African-American. "She's amazing ... just a wonderful woman and a human being."


Soejima, 34, said he was bullied as a boy, with other children refusing to play with him. "I hated being different," he added. "I knew I was a different color, and I wished I could be the same."


Although he does not experience much discrimination these days, he does still get stared at, he said, adding that he hoped the prejudice would eventually fade. "The fact that I’m now able to express myself on national television shows that the way of looking at people is changing."


"JUST WHO I AM"


Japanese are becoming more comfortable with ethnic diversity as they interact with foreign tourists and the economy becomes more globalized.  The emergence of other biracial athletes, such as baseball player Yu Darvish and sprinter Asuka Cambridge, has also helped build acceptance for those of diverse backgrounds.


Joe Oliver, a 35-year-old black Japanese who works as an engineer and model, says that when he was young he was urinated on, burned with cigarette butts and called "an eyesore"."I think mixed raced people's success, such as Osaka's, can help to bring down the wall most Japanese have between people with different backgrounds," Oliver said.

Osaka herself was not raised in Japan; she moved with her family to the United States at age 3 and has lived there since. Asked on Thursday how she felt about being a high-profile bi-racial athlete in Japan, Osaka said the question "really throws me off". "For me it's not something that I have to think about. For me it's just who I am," she said at the Nissan event. "I don't think I'm a mix of three whatever, I just think I am me."

 

 

Thursday, 06 September 2018 17:15

China loans to Africa - Trojan Horse in making?

The rising China Empire is expanding and dominating global trade and commerce at a pace that is mind-blowing and voracious that made in China products have become ubiquitous in all the four corners of the world.



China is neither in charity business nor altruistic but in making maximum deals with highest returns on her investments.  One thing that is desirable about capitalism is its reciprocal benefits. The players including money managers, venture capitalist, manufacturers, middle people and final consumers are getting something in return. China cannot be blamed for making profits because other participants and players on the world stage must be responsible for their actions and decisions.



It cannot be denied that the rise of China is good for the world especially Africa that developed nations have taken for granted. The international financial agencies including IMF have set up standard and conditions that Africa cannot unravel. Therefore the presence of China renders Africa the ample opportunity to make a rational choice. But that does not mean that China is more benevolent than any other, therefore the rationalization in certain corners that China is wonderful without sin is borne out of naivety and sophomoric tendencies.



African countries must realize that loans are not gifts to be kept and spent without accountability and ramification. These loans African countries are scrambling from China must be paid back. Therefore it is   intrinsic that Africa saddled with over $200 billion debt must be extremely careful not be swallowed by Chinese debt. The debt trap is real and it becomes a reality when a borrower cannot live up to the criteria of the outstanding loans, interest rates and arrears. This is not a secret or something to whisper, when it comes to matters of money, African countries tend to be frivolous, clueless, careless and at worst money imbibers who mismanage commonwealth at the highest order.



Image result for china africa summit


Chinese Loans to Africa


China have pledged and extended billions of dollars for many African countries to borrow.  At the recent China-Africa summit in Beijing, China doled out $60 billion loan for Africa. I do not have the opportunity to review the package and procedure for the borrowing and payment. But I believed that China knows precisely what it wants to accomplished. For China the loans may be means to an end, probably to plant their feet firmly on African soil.  There is nothing wrong with that provided that African countries have a pre-plan objective not willfully showing up without doing their homework.




Questions For Africa
What is Africa’s modus operandi?    Is this a loan trap? How is Africa going to invest the borrowed money and most importantly is Africa prepared to pay it back?



Asking these questions are as important as answering them.  Africa must make sure that this golden opportunity that China presented to them must be seized and be transformed into a coin of mutual benefits for Africa and China.  The amity between Africa and China that rooted on trade must be expanded to include educational, health and technological arrangements that can make  Africa a better place. 



I rejected the augment by the naysayers that the loans offered to Africa by China is to trap Africa in debt. They called it “loan trap diplomacy” and suggested that the loans will eventually trap Africa in debt; conversely African countries will be unable to pay back. When that time comes as they propounded, China will devour Africa natural resources and Africa will be re-colonized. This is being extreme in judgment in order to engineer fear in African mind and make them have cold feet on China. Notwithstanding, Africa must have a plan and be vigilant as an old Igbo saying goes, “Nobody tells the deaf that the battle have started.”





Emeka  Chiakwelu, Principal Policy Strategist at AFRIPOL. His works have appeared in Wall Street Journal, Huffington Post, Forbes and many other important journals around the world. His writings have also been cited in many economic books, publications and many institutions of higher learning including Harvard Education and Oxford University. Africa Political & Economic Strategic Center (AFRIPOL) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa. This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

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HOUSTON °F
ABUJA °F
LAGOS °F
JOHANNESBURG °F
    Ferienhaus Ostsee

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