Nigeria’s trade picture for Q4 2023 shows a mixed bag, according to the National Bureau of Statistics (NBS) report on Commodity Price Indices and Terms of Trade. While export prices edged up, import costs rose at a faster pace, leading to a slight decline in the overall terms of trade. “The All-commodity group export price Read More…
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called on the Minister of Finance, Mr. Olawale Edun, to prioritise transparent financial strategies and tax relief to foster private sector development. Mr. Dele Oye, the National President of NACCIMA, conveyed this message during a statement issued on Saturday in Lagos following Read More…
The German Economic Institute (IW) is advocating for a strategic collaboration between the European Union (EU) and African nations to overhaul World Trade Organisation (WTO) subsidy regulations, aiming to mitigate Chinese market imbalances and diplomatic leverage. In a recent publication, the IW proposed this strategy, emphasising the need to address distortions caused by China’s economic Read More…
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), announced that the Abidjan-Lagos highway corridor has attracted investment interest amounting to $15.5 billion. Adesina made this announcement during the 2023 Africa Investment Forum (AIF) Market Days in Marrakech, Morocco, themed “Unlocking Africa’s Value Chains.” Adesina emphasised the transformative potential of the corridor, stating that Read More…
President Bola Tinubu has reaffirmed his administration’s dedication to providing crucial support for Micro, Small, and Medium Enterprises (MSMEs) to help them realize their full potential and ensure their sustained success. This commitment was reiterated during the 2023 Edition of the Lagos International Trade Fair (LITF) organised by the Lagos Chamber of Commerce and Industry Read More…
U.S. Trade Representative Katherine Tai expressed the United States’ intention to develop a “more useful and effective” trade programme with Africa as negotiations are currently underway to revamp a two-decade-old duty-free initiative. The African Growth and Opportunity Act (AGOA) is set to expire in September 2025. AGOA grants qualifying countries duty-free access to the U.S. Read More…
Lagos State Governor Babajide Sanwo-Olu announced a significant investment deal worth $1.35 billion with the African Export-Import Bank (Afreximbank) and Access Bank, aimed at boosting infrastructure development in the state. The announcement was made during the second AfriCaribbean Trade and Investment (ACTI) Forum in GeorgeTown Guyana. Governor Sanwo-Olu emphasised that this substantial investment would have Read More…
Lagos State is emerging as a strategic hub for economic growth, with Governor Babajide Sanwo-Olu reaffirming the state’s vital role in driving opportunities presented by the African Continental Free Trade Agreement (AFCFTA). Speaking at the 51st Annual General Meeting of the Manufacturers Association of Nigeria (MAN) held in Lekki, Governor Sanwo-Olu highlighted the significance of Read More…
The Lagos Chamber of Commerce and Industry (LCCI) has officially announced the forthcoming 2023 edition of the annual Lagos International Trade Fair (LITF), scheduled to run from November 3rd to November 12th. During a press conference held on Thursday in Lagos, Mr. Leye Kupoluyi, Chairman of the Trade Promotion Board at LCCI, shared exciting details Read More…
Governor Babajide Sanwo-Olu of Lagos State reaffirmed the government’s dedication to collaborating with other nations and private sectors to advance the state’s development. Sanwo-Olu made this statement during a courtesy visit to the governor’s office in Alausa, Ikeja, by the Consul General and Head of Trade at the Embassy of the Kingdom of Denmark, Ms. Read More…
