Nigeria’s first AfCFTA consignment arrives at Kenyan Port In a historic moment for Africa’s trade landscape, the first shipment from Nigeria under the African Continental Free Trade Area (AfCFTA) has successfully arrived at the Mombasa Port in Kenya. With reference to the Decision of the AU Assembly at its 31st Ordinary Session of the Assembly, the Nigeria AfCFTA Coordination…
President Bola Tinubu on Thursday urged the government of the People’s Republic of China to increase the $2 billion currency swap between Nigeria and China to enhance trade between the two countries. He also called for an upward review of the $50 billion aid package for Africa, which China’s President Xi Jinping announced last year….
….as Saudi Agricultural Livestock Investment Company increases its investment in Olam by $1.2 billion. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that the economic diplomacy carried out by President Bola Tinubu around the world is yielding the desired results. The minister said this while briefing State House correspondents…
When it became public that Saudi Arabia expressed interest in importing 200,000 tonnes of red meat and one million tonnes of soybeans annually from Nigeria as the latter seeks a sustainable trade relationship with the Kingdom, attention of traders and merchants shifted to soybeans. As announced in June 2024 by the Minister of Agriculture and…
President Bola Tinubu has returned to Nigeria after a state visit to France and Cape Town in South Africa. Special Adviser on Information and Strategy, Bayo Onanuga revealed this in a statement in the early hours of Thursday. According to the statement, President Tinubu arrived at the Nnamdi Azikiwe International Airport at around 9:10 PM…
Experts underscore role of IPRs in trade under AfCFTA By Yusuf Issa An-Nuphawi The National Coordinator of the Nigeria AfCFTA Coordination Office, Olusegun Awolowo, has called for legal protection of African creations, noting that safeguarding Intellectual Property Rights (IPRs) is critical to achieving economic growth and sustainability through the African Continental Free Trade Area (AfCFTA)….
Barbara Bako, Abuja. The Federal Government has stated that it is dedicated to forming partnerships and strategic alliances that would help it achieve its objectives and promote domestic development. This was revealed by Vice President Kashim Shettima on Wednesday during the China-Africa Development Finance Forum (CAIBA) 2024 in Abuja, which had as its theme “Coming…
By Ibn Usman Abubakar The Director of the Kano Free Trade Zone (KFTZ), Mal. Musa Muazu Sahabi, has lamented low manufacturing activities in the zone amidst increasing trade. Sahabi made the disclosure on Wednesday in Kano at the ongoing Investors/Stakeholders Forum 2024 themed “Understanding the Concept and Operations of Special Economic Zones Scheme”. He emphasized…
….Charges Nigeria to update Customs procedures. The World Trade Organization (WTO) has expressed concerns regarding the high rate of physical inspections of containers at Nigerian ports. The WTO cited these high inspection rates as a significant factor contributing to trade delays and urged the federal government to review customs procedures for more timely and cost-effective…
The Executive Secretary/CEO of the Nigerian Shippers’ Council (NSC), Barrister Pius Akutah, on Wednesday decried the persistence of security challenges, including cargo theft and general lawlessness, at Nigerian ports. Speaking at the 2024 Annual Seminar for Maritime Journalists held in Lagos, the NSC boss, who was represented by the agency’s Director of Special Duties, Mustapha…
