TRADE

Nigeria is working towards fast-tracking implementation of the African Continental Free Trade Area (AfCFTA) to unlock opportunities across the continent for businesses in the country. Nigeria’s Minister of the Federal Ministry of Industry, Trade and Investment, Hon. Jumoke Oduwole noted that intra-African trade has been improving. “Intra African trade exports...

Director General, Nigeria China Strategic Partnership, Joseph Tegbe, has reiterated Nigeria's belief in the ‘One-China principle’, as affirmed by President Bola Ahmed Tinubu at the FOCAC summit held in September 2024, acknowledging that there is but one China, and the government of the People’s Republic of China is the sole...

The Oyo State government is set to host a joint Odua Trade Fair organised by Osun, Ogun, Ondo, Oyo and Ekiti States in Ibadan. The government will also launch Farmers market to foster entrepreneurship in the South -West region. Honourable Adeniyi Adebisi, Commissioner for Trade, Industry, Investment and Cooperatives made...

      The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N31,892.46 billion in the second quarter of 2024. This is according to the NBS Foreign Trade in Goods Statistics Report for Q2 2024 released in Abuja on Thursday. The NBS said the figure represented...

  The Nigeria Customs Service (NCS) has signed a Memorandum of Understanding (MoU) with the General Administration of Customs of the People’s Republic of China (GACC) to foster bilateral relationships for the enhancement of economic growth. Comptroller-General of Customs (CGC), Adewale Adeniyi, led some of his management team in Shenzhen,...

Access Bank and United Bank for Africa (UBA) have signed an agreement with the African Continental Free Trade Agreement (AfCFTA) that will help remove trade barriers The agreement was reached during the annual meetings of the African Export-Import Bank (Afreximbank) in Accra, Ghana. African traders Afreximbank is driving the push...

A former Nigerian President, Goodluck Jonathan, has called on African leaders to fully implement the African Continental Free Trade Area (AfCFTA), saying strengthening a common African market would enable citizens to attain their shared objectives of peace, unity, prosperity, and development. This position of his is contained in a speech...

The National Bureau of Statistics (NBS) has disclosed that Nigeria’s total merchandise trade slightly improved in the first quarter of 2023. This is according to the NBS Foreign Trade in Goods Statistics Report for Q1 2023 released in Abuja on Tuesday. The NBS said the increase was due to a...

  President Muhammadu Buhari has described the United States as Nigeria’s main trading partner and one of ‘‘our most important diplomatic partners,’’ underscoring the need for concerted efforts to increase the volume of bilateral trade. The President spoke at a meeting with the Business Council for International Understanding (BCIU) at...

The Nigerian Export Promotion Council (NEPC) says it is collaborating with the Imo state government to enhance the production and exportation of cocoa. Anthony Ajuruchi, the council’s trade promotion advisor in Imo, said this on Thursday at a sensitisation workshop on global best practices in cocoa production and processing for...