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Monday, 4 May 2026

China has now removed import duties from all African Countries. With the exception of 1

China has now removed import duties from all African Countries. With the exception of 1


 Economies in Africa will have tariff-free access to Chinese market for the next two years thanks to a policy that went into effect on Friday. 

Meanwhile, the United States, China's economic adversary, wants to impose new import levies as part of President Donald Trump's protectionist agenda. 

The 20 biggest economies in Africa including South Africa, Egypt, Nigeria, Algeria, and Kenya are covered by the China agreement. China claims that 53 of the 54 countries on the continent are now entitled for "tariff-free treatment" for their commodities because it has previously removed tariffs on 33 of the poorer African states.

Since Eswatini is the only country in Africa with official diplomatic connections to Taiwan, it is ineligible.

China claims it will promote reciprocal growth.

According to China's State Council's Customs Tariff Commission, the deal will further Africa's and China's shared development. The first batch of products to enter under the new zero-tariff policy, according to China's official Xinhua News Agency, was a cargo of 24 metric tons of apples from South Africa that cleared customs in Shenzhen early on Friday.

China's Commerce Ministry stated that it will particularly help African goods including cocoa from Ghana and the Ivory Coast, coffee and avocados from Kenya, and citrus fruits and wine from South Africa, which were previously subject to tariffs ranging from 8 to 30 percent, according to Xinhua.

Together with Ghana, Ivory Coast is the world's largest producer of cocoa, accounting for over half of the world's supply. A significant exporter of citrus fruits is South Africa.


Following the Trump administration's imposition of reciprocal tariffs a year ago, which at one point had rates of 30 percent for South Africa, the continent's largest economy, and higher than 40 percent for some other African nations, several of Africa's leading economies declared they would search for new markets for some of their US-bound goods.

During bilateral discussions in China in February, South African Trade Minister Parks Tau stated, "South Africa looks forward to working with China in a friendly, pragmatic, and flexible manner."

Trump's expansive international tariffs were declared unlawful by the US Supreme Court in February, but the Republican president quickly implemented temporary import taxes in their stead, claiming his government had "very powerful alternatives."

Africa, which has 1.5 billion people and is predicted by the UN to nearly double to 2.5 billion by 2050, when it would have more than a quarter of the world's population, already has China as its largest trading partner.

China has a significant trade imbalance with Africa.

Although there is a significant trade deficit between China and Africa and African countries owe Beijing billions in debt repayments, China praised its tariff-free agreement as fostering shared prosperity.

In 2025, commerce between China and Africa hit a record $348 billion. However, China's purchases from Africa climbed by just about 5% to $123 billion, while its exports to Africa increased by around 25% to $225 billion, increasing Africa's trade deficit.

For a long time, China has shipped produced items back to Africa after importing raw materials. The majority of African raw material exports, such as oil and minerals, already had tariff-free access to China, according to Thierry Pairault, a China-Africa specialist at France's National Center for Scientific Research, although the new policy might have some advantages for agricultural products.

Xi Jinping, the Chinese leader, is presenting China as the opposite of protectionism in the West. In an evaluation released by the China Global South Project, which examines China's interactions with developing nations, Pairault stated, "This gesture is intended to appeal to both African public opinion and global markets."

Sunday, 3 May 2026

ENUGU POSTS N101.8 BILLION REVENUE IN Q1 OF 2026

 

              


Enugu generated N43.9 billion internally and their statutory allocations from the federation Account is 57.9billion.

According to the state’s first quarter Budget performance report, it’s spending was directed towards infrastructure, education and healthcare reflecting a push to convert rising revenues into development outcomes.

Below shows the breakdown of capital and administrative spending. It was infrastructure dominated expenditure.

a. Ministry of works & infrastructure accounted for N23.93 billion in spending.

The office of Accountant general recorded N5.33 billion

c.  ENSUBEB received N4.55 billion

d.Head of service and primary Health care development agency received N3.34 billion and N1.79 billion

The above data suggests moderate recurrent spending.

The Governor maintained that his projected N870 billion internally generated revenue was realistic and achievable with discipline, creativity and sustained hardwork.

“Our 870 billion IGR target is realizable. We have grown IGR from below N30 billion In 2023 to over 180 billion in 2024, 400 billion in 2025, 800 billion in 2026. We believe that unlocking of different streams of economic potentials in Enugu state will realize the domestic revenue projection”

Enugu records strong double digit growth as its debt rose to N157.60 billion representing a 32.12% increase from 119.28 billion in 2021.

The increased debt ranking of the state suggests heavy reliance on borrowing to fund infrastructure and social investments, in addition there is widening fiscal gaps and expansion in capital expenditure


Read more Enugu's Revenue Growth meets Rising Debt: Strategic Expansion or Fiscal Pressure?