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China ups US debt holdings to $1.18t

Foreign holdings of US Treasury debt hit a record high of $5.1 trillion in February, with China remaining the nation's largest foreign creditor, according to data the US Treasury Department released Monday.

China's holdings increased for the second straight month, rising by $12.7 billion in January to $1.18 trillion.

From July to December of 2011, China reduced its position in US Treasury debt, with its holdings down $163 billion during the period.

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China town in Nigeria

China town in Nigeria

 

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The Ecowas Commission

ECOWAS in Brief

The Economic Community Of West African States (ECOWAS) is a regional group of fifteen countries, founded in 1975. Its mission is to promote economic integration in "all fields of economic activity, particularly industry, transport, telecommunications, energy, agriculture, natural resources, commerce, monetary and financial questions, social and cultural matters ..

 

ECOWAS COMMISSION AT A GLANCE

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CBN converts more dollar reserves into Chinese yuan

CBN Governor, Sanusi Lamido Sanusi

 

The Central Bank of Nigeria is converting more of the nation's foreign reserves from the dollar into the Chinese renminbi or yuan.

The Financial Times reported that in August, the central banks of Nigeria and Tanzania joined their counterparts from other continents in adding more renminbi to their reserves.

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Nigeria allows biz settlement in RMB

As the yuan continues to internationalize, more central banks around the world are holding China's currency as a reserve. Nigeria, the second largest economy in Africa, is one of the countries that has included the yuan in its basket of foreign exchange reserves.

Trade between Nigeria and China surpassed 10 billion U.S. dollars for the first time last year and the Chinese currency is playing an increasingly important role in Nigerian business activities.

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Business opportunities in Nigerian Oil and Gas Industry

Nigeria is a lucrative market any day for any company or person ready to go into oil and gas business. The major factors that make Nigeria a viable business destination are as follows:
*A fairly well developed infrastructure (some sectors requiring intervention especially power generation which is a business opportunity)
*Dynamic banking community
*Relaxed foreign exchange regulations
*Existing Stock Exchange for raising of capital
*Large local market for industrial commodities
*Good accommodation facilities (world class) in major cities

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Top 5 Investment Opportunities In Africa For 2012

African economies easily rank among the most resilient in the world. In the middle of the 2009 global economic recession, Africa was the only region apart from Asia that grew positively, at about 2%. The continent's growth has been on an upward trajectory ever since then- 4.5% in 2010 and 5.0% in 2011.

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Tourism in nigeria

Click on this link:http://tourism.gov.ng/

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Sectoral Investment Opportunities: Solid Minerals Incentives

Nigeria has a population of about 110 million people with over 2000 years of traditional culture and has one of the most modern life styles on the African continent. Nigeria is blessed with vast natural resources, abundant mineral wealth, including huge crude oil and gas reserves, large deposits of solid minerals and fertile agricultural lands. Nigeria's pool of highly educated and trained manpower is the largest in Africa. Skilled and trainable manpower at all levels with industrial experience abound are a major attraction for siting investments in Nigeria. 

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African Development Bank

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