The continued imposition of a 7% import surcharge is reportedly threatening cargo throughput and revenue stability at the Onne Port in Rivers State. Licensed customs agents and freight forwarders have voiced concerns that the port is losing its competitive edge to regional alternatives due to what they describe as a “suffocating” regime of multiple taxation. […]
In a major step toward revitalizing regional trade, the Federal Government has officially reopened the Tsamiya-Anguwar Lalle land border with the Republic of Benin. This development ends a seven-year closure that began in 2019, signaling a significant shift in Nigeria’s trade policy and its commitment to the “security of transit” within the West African sub-region. […]
In a major development for the stability of Nigeria’s Southeast, Mazi Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB), has issued a definitive directive to his followers to immediately end the mandatory Monday “sit-at-home” protest. This order, communicated through his legal counsel, marks a significant shift in the region’s civil disobedience strategy, […]
Nigeria’s Southeast region has emerged as the nation’s primary economic frontrunner for 2026, leading with a projected growth rate of 8.0%. This regional surge was a centerpiece of the forum, where industry leaders gathered to analyze the “Price Sensitivity Survey 2025,” presented by Professor Uchenna Uzo of the Lagos Business School (LBS), Pan-Atlantic University. The […]
Nigeria and Ghana have commenced a pilot program for the continent’s first wallet-based outbound payment system, allowing for instant, local-currency transfers between the two nations. The initiative, led by Onafriq Nigeria Payments Limited in partnership with the Pan-African Payment and Settlement System (PAPSS), was officially announced on February 3, 2026. Approved by the Central Bank […]
First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates (UAE), has announced plans to establish a representative office in Lagos, marking its first formal entry into the sub-Saharan African market. Martin Tricaud, FAB’s Group Head of Wholesale Banking, disclosed the move on February 2, 2026, during the Investopia Africa conference held […]
By Ukpono Ukpong The Federal Government has continued to actively maintain open communication with major trade unions, aimed at preventing future strikes, fostering positive labor relations, and ensuring a friendly working environment for workers. Minister of Labour and Employment, Barr Nkeiruka Onyejeocha, highlighted the government’s commitment towards implementing agreements with trade unions during separate meetings […]
By Joy Obakeye The trade volume between Nigeria and the European Union(EU) has hit €45billion euros. Ambassador Samuela Isopi, Head of Delegation to the European Union and ECOWAS stated this in Abuja when she in the company of the Acting Head of Cooperation of EU, Mr. Ruben Alba Aguile ra, paid a courtesy visit to […]
Africa needs urgent financing to re-energise its trade in the continent in the wake of the COVID-19 pandemic, a joint report has stated. This is according to the latest trade finance report, jointly released by the African Development Bank (AfDB), and the African Export-Import Bank (Afreximbank), on Sunday. The report, titled: “Trade Finance in Africa: […]
Nigerian Breweries Plc (NBP), held an exciting two day event in Lagos to reward and celebrate its esteemed trade partners. The 2020 Distributors Award held recently a pre-awards dinner where popular soap opera actor and Radio Host, Steve Onu, popularly known as Yaw, thrilled the company’s trade partners to an entertaining evening of jokes, games and […]
Abuja – President Muhammadu Buhari on Wednesday presided over the meeting of the Federal Executive Council (FEC) at the Council Chamber of the Presidential Villa, Abuja. The Ministries of Power as well as Trade and Investment are scheduled to make presentations on their activities in the past 100 days. Others expected to make presentation at […]
African Export-Import Bank (Afreximbank) Executive Vice President, Business Development and Corporate Banking Amr Kamel has said that the transformation of trade in Africa is a task that all African financial institutions must collectively pursue as major stakeholders in its quest to facilitate African trade. Speaking during a roadshowin Dar Es Salam on Tursday, organized by […]
The African Export-Import Bank (Afreximbank), the FCI+IFG Union and the University of Malta today in Cairo announced the opening of registrations for the 2019 cohort of the Certificate of Finance in International Trade (COFIT). Stephen Kauma, Afreximbank’s Director & Global Head of the Human Resources Department, said that COFIT 2019, which is open to banking […]
The Structured Trade Finance Seminar and Workshop, organized annually by the African Export-Import Bank (Afreximbank), will be hosted in Casablanca, Morocco, from 7 to 9 November, the Bank announced today in Cairo. The 2018 seminar and workshop, being organized in collaboration with the Ministry of Economy and Finance of Morocco, will be the 18th in […]
National Bureau of Statistics (NBS) has said that Nigeria in the first quarter (Q1) of 2018 recorded a trade balance in excess of N2 trillion. NBS in its latest report issued on Wednesday, indicated that strong increase in export trade in the first quarter of 2018 led to the surplus balance of trade amounting to […]
The commitment of the Federal Ministry of Industry, Trade and Investment to initiate policies that would contribute to the diversification of the economy has again been reiterated. The Director, Industry Development Department (IDD) Mr. Kunle Olorode, stressed that the significant role Micro Small and Medium Enterprise (MSMEs) play as the engine of economic growth and […]
The Permanent Secretary of Federal Ministry of Industry, Trade and Investment, Mr. Edet Akpan has stated that the Ministry will prioritize settlement of all outstanding allowances of staff including repatriations, death benefits and others despite paucity of funds. This was contained in a statement signed by Josephine Ademu, Head, Press Unit of the Ministry on […]
First Bank of Nigeria Limited has announced its participation at the 2017 Lagos International Trade Fair, scheduled for November 3 – 12, 2017 at the Tafawa Balewa Square, Lagos. The fair, themed: “Promoting Industrialisation for Economic Recovery and Sustainable Growth,” would bolster the current efforts at creating a diversified economy needed for the stimulation of […]
The Trade Union Congress of Nigeria (TUC) has commended President Muhammadu Buhari for telling governors the gospel truth on how he feels about their failure to pay salaries and pensions despite the interventions of the federal government. The congress also floored some state governors for asking for the release of 50 per cent of the […]
The American Federation of Labour and Congress of Industrial Organisations AFL-CIO’s PACs recently stopped all donations to Congress members’ campaigns as a way to protest Trade Promotion Authority, also known as “fast-track.” AFL-CIO head Richard Trumka explains that the legislation would also pledge Congress to only give the pact an up-or-down vote, without amending it, […]