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China puts ‘aggressive’ terms on Uganda airport loan – AidData reveals

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A top Chinese lender has imposed “aggressive” repayment terms on a $200 million loan to expand Uganda’s international airport, US-based research lab AidData said Monday, criticising the bank for forcing the government to repay its debt before funding public services.

Chinese state banks are the biggest source of infrastructure funding to Africa and have been criticised for their predatory lending practices although details of contracts are rarely made public.

Under the loan from China’s Exim Bank to modernise the Entebbe Airport, the Ugandan government is required to channel all revenue from the country’s only international airport into an account held jointly with the lender, according to the contract published Monday by AidData.

The government is then required to use part of the revenue to repay the loan each year before it can invest in public services.

“These are (more) aggressive terms than what we have seen earlier,” Bradley Parks, executive director at AidData, told AFP, saying the contract “limits the fiscal autonomy of the government”.

State-owned China Communications Construction Company began repairing runways and building new airport hangers in Entebbe in 2016 and the work is expected to be completed this year.

Chinese creditors — unlike other lenders from developed nations — require governments to deposit some earnings from big infrastructure projects in bank accounts they control to serve as collateral.

But the contract for the Ugandan airport goes further.

“The lender is asking not just for revenues from the new projects they are funding, but also from the underlying asset — or the airport — that already exists,” Parks said.

The airport, built in 1951, was generating about $68 million in annual revenue prior to the expansion project and the money was used to fund public services according to Parks, citing data from the government.

The project led to public outrage last year after Ugandan media reported China will take control of the airport if the government in Kampala defaulted, a claim that Beijing later denied.

China Exim Bank did not respond to a request for comment.

US Treasury Secretary Janet Yellen this month said China needs to contribute more to global efforts to provide debt relief for poor nations that are struggling to repay after the pandemic battered their economies.

 

 

 

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Customs Surpasses Revenue Target with N5.7 tn Collection

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Comp[t. General Bashir Adewale Adeniyi

 

The Nigeria Customs Service (NCS) has announced a record revenue collection of N5.7 trillion as of November 12, 2024, surpassing its yearly target by 10 percent.

This was disclosed by the Comptroller-General of Customs, Adewale Adeniyi, at the ongoing 2024 Comptroller-General of Customs Conference in Abuja.

Themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose,” the conference showcased the Customs Service’s progress in modernizing its operations and fostering collaborative partnerships.

“Today, I stand before you to demonstrate how our commitments in 2023 have evolved into tangible achievements,” Adeniyi stated.

He attributed the revenue growth to a series of reforms, including the implementation of a one-stop solution for cargo alerts, a revamped ICT infrastructure, streamlined inspection procedures, and enhanced automation.

Adeniyi explained that these changes reflect the agency’s commitment to elevating operational transparency and efficiency.

“We pledged to re-align our free trade operations, elevate cargo integrity standards, and expand our scanning capacities,” he said.

“Above all, we promised to usher in a new era of customs operations—one built on transparency, efficiency, and genuine collaborations with our partners.”

As of Tuesday, November 12, Adeniyi confirmed that the NCS collected N5.07 trillion, achieving the anticipated 10 percent revenue surplus.

“This performance validates our partnership-driven approach to revenue collection and trade facilitation,” he added.

Adeniyi also highlighted recent strides in trade facilitation, revealing that six companies have been selected to benefit from the Authorised Economic Operators programme, which provides fast-tracked customs clearance and other trade facilitation benefits.

Similarly, the NCS has processed 21 requests under an advance ruling programme, designed to expedite customs decisions on import and export cargoes before they reach Nigerian ports.

The Comptroller-General expressed optimism about the NCS’s potential to drive further economic growth, citing the agency’s commitment to fostering partnerships and advancing innovative practices within the customs sector.

 

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Half of Shortlisted Directors Fail Federal Permanent Secretary Exam

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Nineteen out of the thirty-eight directors who were shortlisted to fill permanent secretary vacancies within the Federal Civil Service have failed the qualifying examination, a memo from the Office of the Head of Civil Service of the Federation (OHCSF) revealed on Tuesday.

 

The memo, signed by Dr. Emmanuel Meribole on behalf of the examination committee, disclosed that the qualifying exam was conducted on Monday, November 11, 2024.

 

The Federal Government, through the OHCSF, launched the recruitment drive in October to fill permanent secretary vacancies in eight states.

 

Providing insights into the progress, Eno Olotu, Director of Press at OHCSF, stated, “Of the 38 eligible directors who sat for the exam, 19 have passed the first stage and will move on to the second stage, which will assess their competency in using Information and Communication Technology (ICT) in government operations on Wednesday, November 13, 2024.”

 

Olotu highlighted the rigorous three-stage selection process, designed to ensure that only the most capable individuals are appointed to these high-ranking civil service roles.

 

This comprehensive approach, according to OHCSF, aims to elevate the quality of leadership across federal ministries.

 

The directors who advance beyond the ICT proficiency test will face a final stage on Friday, November 15, 2024, where a panel of senior government officials and private sector experts will conduct a final evaluation to determine their suitability for the permanent secretary positions.

 

 

 

 

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Rep Oseni Rallies Support for Ikogosi Development Projects, Calls for Resilience, Unity

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The Chairman of the House Committee on the Federal Road Maintenance Agency (FERMA) and representative of Ibarapa East/Ido Federal Constituency in Oyo State, Engr. Aderemi Oseni, on Saturday urged the community to unite in advancing key development projects aimed at transforming Ikogosi.

 

Speaking at this year’s Ikogosi Day celebration and the launch of a N1 billion development project in Ekiti, the lawmaker, who served as the Chairman of the occasion, emphasised the importance of unity and collective action.

He encouraged attendees to approach the celebration as a call to action for the betterment of their community.

“As we all know, Ikogosi is not merely a town; it is a treasured gem in the heart of Ekiti State and Nigeria as a whole,” he said. “Ikogosi, a historic and vibrant town, plays a vital role in the tourism and economic landscape of Ekiti State. Its rich cultural heritage and unique resources draw visitors and stimulate economic activities that benefit us all.”

 

“Today is not just a celebration; it is a call to action,” he continued. “Let us come together, united in purpose, to support these transformative projects that promise to uplift the Ikogosi community. I urge everyone here to invest their time, resources, and energy in this endeavor. Together, we can build a legacy of self-help and development that future generations will cherish.”

Reflecting on the broader challenges facing the country, Oseni encouraged the people of Ikogosi and all Nigerians to remain hopeful and resilient, assuring them of President Bola Ahmed Tinubu’s commitment to a brighter future for the nation.

“To the good people of Ikogosi and all citizens of Nigeria, I urge you to remain steadfast and hopeful. President Bola Ahmed Tinubu means well for all Nigerians. The APC-led administration’s Renewed Hope agenda holds the promise of a brighter future. Though the beginnings may be challenging, perseverance will guide us toward a prosperous new Nigeria,” he stated.

 

In a statement released by his media aide, Idowu Ayodele, the lawmaker lauded the Ekiti State government under Governor Biodun Oyebanji’s leadership for its transformative efforts in governance and development.

He acknowledged the strides made by the governor and praised his impactful initiatives, which have set Ekiti on a progressive path.

 

“First and foremost, let me commend the Ekiti State government under the leadership of His Excellency, Mr. Biodun Abayomi Oyebanji. The trailblazing development initiatives and effective governance during your tenure have not gone unnoticed,” Oseni remarked.

“Under your stewardship, we have witnessed remarkable progress and commendable governance that have undoubtedly made Ekiti State a shining example of peace and development,” he added.

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