Foreign news
China’s first-quarter economy grows by 4.5% as recovery accelerates
China’s gross domestic product (GDP) expanded 4.5 percent year on year in the first quarter of 2023 as economic activities gain traction, data from the National Bureau of Statistics (NBS) showed on Tuesday.
“We are seeing an accelerating recovery in all sectors with stronger momentum, including the improving domestic demand,” said Pang Ming, chief economist and director of Research at JLL Greater China.
The growth rate was higher than analysts’ expectation of 4 percent in a Reuters poll.
The market expectation has significantly improved since the start of the year, said Fu Linghui, spokesperson of the NBS. He added that the economy’s growth rate in the second quarter is expected to accelerate significantly compared to the first quarter because of the low comparison base in the same period last year.
Going forward, Pang cautioned that policy support and targeted easing are still needed to secure sustainable growth amid external uncertainties.
China’s macroeconomic policies should keep domestic demand expansion as a priority in light of generally weak external demand, said Cheng Shi, chief economist at ICBC International.
In the first quarter, the total retail sales of consumer goods rose 5.8 percent year on year. Notably in March, consumer spending surged 10.6 percent year on year, 7.1 percentage points higher than that in the first two months.
There is divergence in the recovery pace among different consumption types, said Wen Bin, chief analyst at China Minsheng Bank. Offline and get-together spending continued to pick up, while the durable goods consumption was lacking, reflecting people’s income and willingness to shop require a further boost, he added.
A recent central bank survey of depositors showed that “tourism” tops the list of the expected increase in expenditure in the second quarter.
The investment in fixed assets grew by 5.1 percent year on year in the first quarter while the total added value of large industrial enterprises grew by 3.0 percent in the same period.
China has set a GDP growth target of around 5 percent for this year. Local governments around the country are gearing up support for the economy including optimizing the business environment, stabilizing employment and promoting consumption.
Foreign news
Namibia Embassy Celebrates 35th Independence Anniversary in Abuja
…As Nigeria-Namibia Trade Relations Expand
By Joel Ajayi
The Namibian Mission in Nigeria recently marked the 35th Independence Anniversary of Namibia with a vibrant celebration in Abuja, marked by pomp and excitement.
Speaking at the event, His Excellency Humphrey Geiseb, High Commissioner of the Republic of Namibia to Nigeria, commended the resilience of every Namibian who fought for the country’s freedom and democracy.
“This day reminds us of the sacrifices made by countless Namibians who gave their lives for our freedom. As our national anthem says, ‘Their blood waters our freedom.’ Namibia’s independence on 21 March 1990 was the result of a long and tireless struggle. We continue to honor the legacy of those who fought for a free and democratic nation,” he stated.
He emphasized that this year’s celebration holds additional significance:
“A few weeks ago, Namibia witnessed the inauguration of Her Excellency Dr. Netumbo Nandi-Ndaitwah as the 5th President of the Republic of Namibia. This marks a historic milestone, not only for our country but for the entire SADC region, as she is the first woman to hold the highest office in the land.”
He praised the progress Namibia has made in gender representation, noting that President Ndaitwah’s administration includes a female Vice President, nine women Cabinet Ministers, and a female Speaker of Parliament.
“This shows that women occupy top leadership positions in Namibia, demonstrating that they can lead with strength, vision, and wisdom,” he said.
Reflecting on Nigeria’s role in Namibia’s independence struggle, the High Commissioner expressed deep gratitude:
“Namibia’s fight for independence would not have been successful without the unwavering support of our international friends, and Nigeria was a key partner. From the 1960s to the 1980s, Nigeria welcomed Namibians—particularly students—and supported liberation movements in Southern Africa through political, economic, diplomatic, and logistical means.”
He noted that, since independence, Namibia has enjoyed peace and political stability for 35 years without internal conflict. However, challenges such as poverty and unemployment persist. The government remains committed to improving living standards and achieving the goals of Vision 2030, aiming to solidify its high middle-income status.
Despite challenges in securing financial support due to its middle-income classification, Namibia continues to advance across multiple sectors.
Geiseb also acknowledged Nigeria’s contribution to strengthening bilateral ties.
“I want to sincerely thank the Federal Republic of Nigeria for the successful outcomes of the 5th Session of the Namibia-Nigeria Joint Permanent Commission of Cooperation, held in February 2025 in Namibia.”
That session resumed official dialogue between the two nations after a 15-year hiatus and introduced new mechanisms for deepening collaboration.
Highlighting growing economic ties, the High Commissioner mentioned that two Nigerian companies—Premier Charcoal and King Charcoal—are thriving in Namibia’s charcoal industry, exporting high-quality products to the international market. Additionally, Namibia exports salt worth approximately $5–6 million annually to Nigeria.
“We look forward to further expanding our trade relations, and we hope Nigerian products will soon be available in Namibian supermarkets,” he said.
He concluded by appreciating Nigerian President Bola Ahmed Tinubu and the entire Nigerian government for their continued support in strengthening Namibia-Nigeria bilateral relations.
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