PUTIN WOOS AFRICAN LEADERS AT SHOWCASE SUMMIT, SAYS RUSSIA IS BETTER PARTNER THAN 'COLONIAL' WEST. (PHOTO).

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 Putin woos African leaders at showcase summit, says Russia is better partner than 'colonial' West President Vladimir Putin told African leaders ​on Wednesday that Russia was their best partner, accusing what he cast as a colonial West of still trying ‌to exploit the continent's resources and using debt to hold back development, Reuters reported. The Kremlin chief was speaking at the third Russia-Africa Summit in Moscow, a two-day event attended by African leaders and government delegations from 48 countries, during which he will hold one-on-one talks with many of the 22 individual African leaders ​attending on everything from trade to security, arms deals and grain supplies. "Africa is increasingly asserting itself as one of the key players in the global economy and politics. However, the emergence of a multipolar world is, of ​course, no easy task; it faces resistance from countries that are not prepared to accept this reality: those who are accustomed to ​thinking i...
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LAGOS STATE EXECUTIVE COUNCIL APPROVED TODAY,THE RESTRUCTURING OF LEKKI CONCESSION COMPANY LOAN FACILITY.

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                          The Lagos State Executive Council today wednesday approved the restructuring of the Lekki Concession Company {LCC} Loan facility provided by local and international lenders.The State Government in a statement issued by the Commissioner for Information and Strategy,Mr Steve Ayorinde,said that it has paid a total of N9.8 billion in full and final settlement of LCC's indebtedness to its international lender,which granted a 21.16 per cent haircut {reduction} on the State.He said as a result,a sum of N3.15 billion was saved.The Commissioner said that in addition,local lenders,whose interest rate was 18.5 per cent at the Consummation of the facility.offered a 12 per cent haircut and also fully paid with a restructured loan at 13.5 percent,thereby creating a savings of N8.7 billion for the Government.Ayorinde also reiterated the State Government's commitment to continue to deploy appropriate public finance management principles to ensure adequate provision of infrastructure to all Lagosians.In a related development,the State's Commissioner for Finance,Dr Mustapha Akinkunmi,urged citizens to continue to pay their taxes as at when due,since according to him,more facilities are being provided by government through the tax payers obligation to government.One more photo below.                                                                                                                                        

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