PEBEC: Osinbajo counts gains, says new Nigeria possible
PEBEC has achieved the delivery of over 180 reforms
Trade
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Food prices keep rising globally, says World Bank
Food price inflation has kept rising globally, the World Bank says in a report. It made the declaration in its latest Food Security Update report issued on Wednesday. “Information from the latest month between December 2022 and March 2023 for which food price inflation data are available shows high inflation in almost all low and…
Customs, aviation players discuss single African air transport market
A Delegation of the Single African Air Transport Market, Pilot Implementation Project (SAATM–PIP) on Wednesday met with officials of the Nigeria Customs Service, NCS, in Abuja, Nigeria as part of efforts towards promoting trade facilitation on the Continent. The NCS in a statement said the visit by the members of the SAATM–PIP, an initiative of…
FG frowns at illegal stockfish importation
The Federal Ministry of Agriculture and Rural Development has tasked stockfish and seafood importers on proper documentation in order to avoid illegal importation. Mr James Umoru of FMARD’s Fisheries and Aquaculture Department made the call at a one-day interactive workshop organised by the Norwegian Seafood Council on Wednesday in Lagos. The workshop had in attendance…
Brace for global rice shortage in 2023, Fitch advises consumers
Rice production has been falling from the US to China to the European Union. This has resulted in the prices going up for over 3.5 billion people across the planet, particularly the Asia-Pacific region that consumes almost 90 percent of the rice in the world. The rice market globally is set to log its largest…
ILO, Nigeria partner on trade test certifications for migrants
The trade test, which is recognised globally for skill certification, is important to help migrants gain jobs whenever they travel
Nigeria’s inflation rate hits 22% in March, highest in 18 years
Nigeria’s headline inflation rose to 22.04 percent year-on-year in March, the highest rate seen since September 2005. According to the National Bureau of Statistics, NBS, latest report represents an increase of 0.13 percent when compared to 21.91 percent February 2023 headline inflation rate. At the subnational level, “The inflation rate on a year-on-year basis was…
Iran, S’Arabia to resume bilateral relations after years of diplomatic war
Iran’s leaders have invited their regional rival Saudi Arabia’s King Salman bin Abdelaziz for an official visit. The move, which is part of a rapprochement between the two countries, was announced by Iran’s Foreign Ministry spokesman Nasser Kanaani in Tehran on Monday. An invitation sent by Iran’s President Ebrahim Raisi had been accepted, he said….
Nigeria eyes $500 million from cashew export in 2023
Nigerian Export Promotion Council (NEPC) says the country exported 315,677 metric tons of raw cashew nuts worth $252 million in 2022 and hopes to double the earnings to $504 million. Last year, the commodity accounted for 5.24 per cent of the country’s non-oil export portfolio. This is contained in the data obtained by the NEPC…
Oil prices rise on production cuts concern
The oil market is heading for a significant shortfall of around two million barrels per day at the end of the year as a result of a production cut by major producers, the Organisation of the Petroleum Exporting Countries (OPEC) disclosed this on Thursday. In its monthly report for April, OPEC noted the unexpected decision…