AfCFTA: Customs trains officers on Rule of Origin As Nigeria intensified efforts to start trade under African Continental Free Trade Area, AfCFTA, the Nigeria Customs Service has reiterated its commitment to enhancing border security and trade facilitation by engaging officers in various capacity-building workshops. The Comptroller-General of Customs, CGC Bashir Adewale Adeniyi, made the disclosure…
National, continental clash of interest hinders AfCFTA – Shettima Vice-President Kashim Shettima said trade negotiations for African Continental Free Trade Area (AfCFTA) have turned out to be too slow, with clashes between national and continental priorities. He said the setback has led to too few consummated deals among countries since January 2021 to date. Spokesperson…
World Bank forecasts 2.3% growth for global trade After lagging the pace of global growth in 2023, global trade is projected to pick up to 2.3 percent in 2024, mirroring projected growth in global output. This reflects a partial normalisation of trade patterns following exceptional weakness last year. The World Bank’s latest Global Economic Prospects…
Kaduna Customs records N16.38bn revenue in 2023 The Customs Area Controller, Kaduna Area Command, Comptroller Tijjani Abe, has highlighted his Command’s remarkable accomplishments in 2023, comprising revenue generation, stakeholders’ engagement, and corporate social responsibility. In a press release made signed on Thursday, by the Public Relations Officer of the command, Superintendent of Customs Muhammad Aminu,…
Barbara Bako, Abuja. FG — The Federal Government has expressed concern over the increasing exits of multinational companies from the country with a renewed commitment to firms exodus through policy reforms and improved business conditions. Minister of Industry, Trade and Investment, Dr. Doris Nkiruka Uzoka-Anite, made the disclosure on Wednesday in Abuja during the trade…
The Senate on Thursday sought the inclusion of Nigeria in the $147 billion global bitumen market with passage for a second reading of a bill seeking the establishment of a Bitumen Development Commission. The bill was sponsored by Senator Jimoh Ibrahim (APC Ondo South). He informed the Senate that more than 80% of the resources…
The General Manager, Corporate Affairs TGI Group, Mr. Sadiq Kassim, has lamented on the nation’s high import rate of food and agricultural commodities, which currently stands at N3.3 trillion. Kassim said spending so much on importing food is unsustainable for Nigeria, especially at a time when the country is grappling to earn the much foreign…
The Nigeria Customs Service Oyo/Osun Command has generated N11,679,732,583.91 as revenue for the Federal Government in September and October 2023. Combined with the revenue collected from January to August 2023, the Command’s total collection stands at N59,087,983,670.64. Customs Area Controller, Comptroller Ben Oramalugo, who revealed this in a press briefing recently, attributed the success to…
The NNPC/Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market. The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European…
Lagos Lilypond Terminal has seen 12,438 export containers with a free onboard value of, $519m between January and September 2023, Customs said on Thursday. In a statement on Thursday by the National Public Relations Officer of the Nigeria Customs Service, Abdullahi Maiwada, the Customs Area Controller in charge of the terminal, Ajibola Odusanya, said this…
