Business
China Visits Nigeria With 3 Ships, Strengthens Bilateral Relationship

The Chinese Navy Escort Task Group (ETG) 162, comprising MSL Destroyer NANNING, MSL Frigate SANYA, and Supply Ship WEISHANHU, on Sunday visited Nigeria to strengthen bilateral relationship between the two countries.
The Chinese Ambassador to Nigeria, Mr Chi Jian Chun, said that the visitation of the Chinese envoy, scheduled for July 2 to 6, would also enhance maritime security within West Africa.
The News Agency of Nigeria (NAN) reports that MSL Destroyer NANNING, made the port call at Nigerian Port Authority (NPA) Berth 21, while the other two ships remained at anchorage.
Chun said that the delegation from China was big with more than 700 people and three ships to Nigeria.
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“The visit is to further deepen the relationship the two countries have with one another and also seek to strengthen and improve our relationship and cooperation with each other.
“This visit demonstrates the harmony and symphony between Nigeria and China,” he said.
The ambassador said that China and Nigeria would continue to work together and promote peace and harmony while also seeking ways to make contributions to the international community.
“I believe that this visit will deepen the cooperation between both countries military sector so that we can work together to overcome obstacles.
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“We will continue to do more things to facilitate and promote the relationship between the two countries,” Chun said.
Also, the Flag Officer Commanding (FOC) Western Naval Command, Rear Adm. Joseph Akpan, said the visitation would further help to cement the relationship between the two countries.
This is “especially between the Nigerian Navy and the Chinese Navy as well as the military. This will help us fight crimes, especially in the Gulf of Guinea.
“During their period of stay, our men will be interacting, we will be having some sporting activities, exchange of momentous and gifts.
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“We will also discuss the future of both navies, especially on how we can benefit from each other,” Akpan said.
The FOC added that the term called ‘sea riders’ enabled some of the Nigerian Navy personnel onboard the Chinese ship and they could also have some of their own men onboard our ship.
“This helps to foster friendship across the horizon,” Akpan said.
NAN reports that the Chinese people resident in Lagos came out in their numbers to welcome the Chinese envoy at the NPA.
There was also a rich display of the culture of the Chinese people which could be seen in the colourful display of their synchronised dance routine at the port.
(NAN)
Business
Naira Appreciates Against US Dollar After Highest Dip

The Naira bounced back, recording an appreciation against the United States dollar at the official foreign exchange market after hitting its lowest point this week.
Data from the Central Bank of Nigeria showed that the Naira strengthened to N1,452.13 on Thursday, up from N1,454.19 traded on Wednesday.
This represents a gain of N2.06 against the dollar on a day-to-day basis.
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Meanwhile, in the black market, the Naira depreciated by N5 to N1,470 per dollar on Thursday, down from N1,465 recorded the previous day.
The apex bank’s data indicated that the country’s external reserves continued to rise, standing at $44.12 billion as of 19 November 2025, despite the mixed sentiments in the currency exchange market.
Recall that on Wednesday, the Naira recorded its highest depreciation against the dollar at the official FX market.
Business
Naira Records First Appreciation Against US Dollar As Foreign Reserves Hit $46.7bn

The Naira recorded its first appreciation against the United States dollar at the official foreign exchange on Tuesday this week.
The Central Bank of Nigeria’s data showed that the Naira strengthened on Tuesday to N1,447.43 per dollar, up from N1,448.03 exchanged on Monday.
This means that the Naira gained N0.6 against the dollar on a day-to-day basis.
READ ALSO:Naira Records Second Consecutive Depreciation Against US Dollar
Meanwhile at the black market, the Naira remained unchanged at N1,465 per dollar on Tuesday, the same rate exchanged on Monday.
Checks on Nigeria’s foreign reserves showed that it has risen to $43.97 billion as of November 17th, 2025, according to the Central Bank of Nigeria’s data.
Meanwhile, the apex bank governor, Olayemi Cardoso, in an event on Tuesday, said the country’s foreign reserves rose to a seven-year high of $46.7 billion as of November 14.
Business
Dangote Sugar Announces South New CEO

Dangote Sugar Plc has announced Mr Thabo Mabe, a South African, as its new Group Managing Director and Chief Executive Officer.
This follows the sudden resignation of Mr Ravindra Singhvi, an Indian.
The company disclosed this in a shareholders’ notice on Tuesday, in compliance with Nigerian Exchange Limited regulations.
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Mabe’s appointment takes effect from December 1, while Singhvi’s resignation is effective from November 3ⁿ2025. The firm did not state a reason for Singhvi’s resignation.
“Mr Singhvi made significant contributions to the growth and transformation of the company and leaves behind a record of operational excellence,” the statement, signed by Mrs Temitope Hassan, Company Secretary and Legal Adviser, read.
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