News

How Singapore sidelined China as Nigeria’s top trading partner

Published

10 months ago

March 12, 2024

Singapore has overtaken China as Nigeria’s top import partner for the first time in at least 16 years, a BusinessDay analysis of the latest foreign trade data shows.

The report from the National Bureau of Statistics (NBS) shows that Nigeria imported goods worth N5.09 trillion from Singapore in the fourth quarter of last year which constituted 36.1 percent of total imports (N14.1 trillion).

“Manufactured goods mainly imported were ‘Tanks and other armoured fighting vehicles, motorised, whet’ from Singapore valued at N5,06 trillion followed by ‘Used Vehicles, with diesel or semidiesel engine, of cylinder capacity >2500cc’ also imported from the US and Italy valued at N94.3 billion and N6.69 billion respectively,” the report said.

It said the value of total imports stood at N14.1 trillion in Q4 which represents an increase of 56.0 percent compared with the value recorded in Q3 (N9.04 trillion) and by 163.1 percent compared to the value recorded in Q4 2022 (N5.36 trillion).

“The increase in import was largely due to the import of ‘tanks and other armoured fighting vehicles, motorised, whet’ worth N5.06 trillion.”

Experts say Singapore being the country’s top import partner is a one-time thing and that China would return as Nigeria’s top importer due to its reliance on Chinese products.

“Insecurity may have influenced this shift. The country importing military equipment from Singapore might have been more cost-effective for them due to ongoing security challenges,” Adeola Adenikinju, president of Nigerian Economic Society, said.

He said China is likely to reclaim its position as Nigeria’s top importer due to its significant manufacturing output.

“Consumer goods rank highest in terms of raw materials, with many capital goods still originating from China. Therefore, China is expected to return as Nigeria’s primary trading partner for the foreseeable future,” Adenikinju added.

Isreal Odubola, a Lagos-based economist, said the trend is not surprising given that Singapore is another manufacturing giant.

“While we cannot confirm whether Singapore has ‘actually’ overtaken China as Nigeria’s largest import partner, data points for the next two quarters will give a clue,” he added.

BusinessDay reported on Monday that Nigeria’s trade surplus shrank by 99.7 percent last year as imports surged to the highest since the NBS started collating foreign trade data.

News

Christmas in Naija: How We Dey Manage Celebrate Despite Wahala

Published

4 hours ago

December 24, 2024

Gloria Ikibah

By Gloria Ikibah

For Naija, Christmas no be just ordinary holiday. Na time wey hope dey shine, vibe dey sweet, and gratitude dey full everywhere. Na that time of the year wey, no matter how life don hard, people go try “show face” because Christmas na big deal. But lately, with the way everything dey cost and suffer no dey reduce, celebrating Christmas don turn wahala for many families.

Still, as we dey talk, “Man no fit kill himself.” Nigerians no dey carry last. We sabi find ways to flex and celebrate the birth of Jesus, even if na to cut corner or manage small.

Cost Wahala: Everything Don Cost Die

You no need any prophet to tell you say things for market don turn another level. Everything don cost! From rice to chicken, even maggi cube sef don follow increase. Wetin you go talk about live chicken? E don be like say to chop chicken for Christmas na for rich people alone. Rice wey people dey buy for ₦20,000 before don near ₦100,000. Wetin we go do?

But for Naija, no Christmas without rice and chicken. E be like wedding without music, e no complete. So, people dey hustle extra hard. Tailors no fit sleep because everybody wan sew new clothes. For market, na haggling full everywhere as buyers dey try drag price wey don already high.

Yet, hope still dey. Naija people dey always talk say, “God no go shame us.” Somehow, everybody dey find way.

December Rush: Going Back to the Village

One of the sweetest things about Christmas for Naija na the “back to village” movement. Whether you dey Lagos, Abuja, Sokoto, Kaduna, Maiduguri, Ibadan ofPort Harcourt, December na time to reconnect with your roots. But my brother, the journey no easy o.

Transport fare dey mad. Fuel price dey high, so drivers no dey smile. Imagine paying ₦40,000 from Lagos to Enugu wey before na ₦7,000. Still, people dey go because, as dem go talk, “Home sweet pass anywhere.”

Na the road matter sef dey pain pass. Traffic go tie you like wrapper, police go dey disturb you for checkpoints, and bad roads no go allow you rest. But trust Nigerians; we sabi manage. With small gist, music, and snacks for road, the journey go dey bearable.

Decorations and the Christmas Feeling

No matter the hardship, December still dey sweet for Naija. Streets go dey shine with Christmas lights, even if e no plenty like oyinbo countries. Small businesses go hang blinking lights, and some churches go do nativity scenes. Children go sing carols, mixing English and local hymns.

For house, families dey try decorate, no matter how small. If you no fit buy Christmas tree, palm frond dey available. Just add ribbon join am, and your tree don complete. Nigerians go just laugh say, “Na manage we dey manage, but e go still sweet.”

The Christmas Food: Make Everybody Chop

For Naija, food na the center of Christmas celebration. Even if na one kind year wey e be like say soup no too dey plenty, Christmas day different. Rice, whether na Jollof or fried, e must show. Chicken, goat meat,cow meat or turkey go follow. If you lucky, you go see moimoi, salad, or even nkwobi and isi-ewu.

But the hustle to prepare food no easy. Cooking gas dey cost, firewood no dey too plenty, and food items don turn something else for market. Na there the community spirit dey enter. Neighbors dey share, people dey contribute small small, because as dem dey talk, “Nobody wan carry last, everybody must chop.”

Church Service: The Main Reason for Christmas

For Naija, we no dey forget say the reason for the season na Jesus Christ. Churches dey full on Christmas morning as families go dey sing, pray, and thank God for the year. Choir go sing gospel wey go touch heart, and pastor go preach hope, love, and resilience.

For some villages, dem dey even do nativity play or Christmas drama to remind people of how Christ take start. E dey sweet when you see traditional dance join the celebration. Religion and culture dey mix well for Naija style of Christmas.

Evening Cruise: Detty December Don Land

After all the food and church matter, na groove time! Children go wear their fine new clothes waka round, go house to house dey greet people and collect small gifts (aka “Christmas handouts”). Youths go organize street parties, and local DJs go blast music wey go make body sweet.

For some people, na time to do “detty December.” Bars, lounges, and beaches go full as people go dey vibe, because, as we sabi talk, “Body no be firewood.”

Finding Joy Even When E No Easy

Despite all the struggle, Nigerians sabi find joy. Na about the small memories, laughter from children, food wey everybody chop together, and the spirit of giving. Even those wey no fit afford big celebration still dey thank God o. Some people go do small house party; others go just use the day pray and reflect.

Social media sef dey help. People dey share their own kind of celebration, using hashtags like #NaijaChristmas or #DettyDecember to show say life still dey sweet, no matter the condition.

As We Enter New Year

As another year dey end, hope still dey shine for Naija. The way people dey push through Christmas wahala, show the resilience wey Nigerians carry. Everybody dey pray say next year go better, better economy, better life.

So, whether na rice and chicken you chop, or na garri you soak, one thing sure: Christmas na about the heart wey dey give. Love, gratitude, and hope na wetin matter pass.

Merry Christmas, Naija style!

News

Edo To Get First Lady As Gov Okpebholo Reportedly Set To Quit Bachelorhood

Published

6 hours ago

December 24, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

December 24, (THEWILL) – Barring any last minute change of heart, the governor of Edo State, Monday Okpebholo, is allegedly set to marry his side chick, a California-based lady, Jennifer, the daughter of Sharon Ogaga, who is a native of Auchi and is believed to be in her 30s.

THEWILL reports that the marriage is scheduled to be held in Potter Ranch, California, in January 2024, while Aso ebi for the event is being distributed to friends of the bride for a fee around America, Europe and Africa, the letter of invitation only identifies Jennifer, but does not mention the identity of the husband-to-be, in what appears to be a deliberate attempt to mask governor Okpebolo’s identity and shield him from the controversial move.

What is weird is that Jennifer and her family are being coy with the identity of the man she is marrying.

One of THEWILL’s sources, however, has a direct confirmation that Governor Okpebholo is the “husband-in-waiting.”

“They are only telling people that Jennifer is getting married. They are not revealing the identity of the man. It is obvious they are hiding something, probably they don’t want distractions to taint the ceremony,” one of the sources said.

THEWILL does not know the status of Okpebholo’s current marriage to Blessing Okpabi Okpebholo, the mother of his two daughters, who was a no-show during his inauguration as governor.

It, however, appears that their marriage is over because it is illegal to be married to more than one person under the laws of the United States.

According to one of our sources, Senator Adams Oshiomhole allegedly hooked Jennifer up with the governor.

The governor’s Special Adviser on Media, Osiobughie Okhuemoi, said he was unaware of the development when THEWILL contacted him for comments a few days ago.

THE WILL