The Innovative Reader with Joshua Mwewa
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Current affairs for both local and International. We value the Truth in the news we post.
PARKING CRISIS IN LUSAKA
Lusaka Residents have called on Government to address The Problem of limited Parking space in Lusaka's Central Business District -CBD.
A check by ZNBC news on Freedom way, Cairo road and some key road networks within the CBD found many vehicles parked in undesignated spots.
ERB APPROVES APPLICATION BY ZESCO
The Energy Regulation Board has approved an application by ZESCO to make tariff adjustments and has decided to make downward adjustments for vulnerable communities and upwards adjustment for non-vulnerable communities.
20,000 PEOPLE APPLY FOR PARTIAL PENSION BENEFIT WITHDRAW AT NAPSA
Credit: ZNBC News
21/04/2023
NIGERIA DENIES DEFAULTING ON CHINESE LOANS
Nigeria's Debt Management Office (DMO) has denied claims that the federal government defaulted in the payment of interest to China for loans.
Local media had reported that Nigeria accrued a penalty of $90m (£81m) after its debt from China accumulated to $240m (£217m) in the last two years.
The loans were reportedly taken to renovate some of the country’s railway lines.
In a statement on Wednesday, the DMO termed the reports false saying Nigeria was fully committed to honouring its debt obligations and had not defaulted on any of its debt service commitments.
“Nigeria remains unwaveringly committed to fulfilling its debt obligations in a responsible and timely manner," the statement added.
It urged the public to ignore the reports.
As of December 2021, the DMO said, Nigeria’s debt to China stood at $4.1bn. It was, however, silent on the current status of the Chinese loans to Nigeria.
Nigeria has in recent years suffered revenue losses following a spate of attacks on rail tracks and the kidnap of train passengers that resulted in the stoppage of train services on some routes for a while.
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