TRADE

President of the Senate, Ahmad Lawan, has said for the African Continental Free Trade Agreement to yield expected results, same must be backed by requisite legal frameworks, right policies, and robust implementation. Lawan made this known when he received a visiting delegation from the African Continental Free Trade Area Secretariat,...

  *Adds: Nigerian Economic Society should be more involved in public policy debates * VP understands economic development - NES   As African countries brace up for the effective implementation of the Africa Continental Free Trade Area (AfCFTA) agreement, one of the many ways by which the continent can maximize...

  The National Bureau of Statistics (NBS) stated on Wednesday that the country’s external merchandise trade declined by 27.30 per cent to N6.24 trillion in the second quarter of the year (Q2 2020) compared to N8.59 trillion in the preceding quarter, The performance further indicated a drop of 27.46 per...

Global trade is expected to drop around 18.5 per cent year on year in the second quarter of 2020 in a coronavirus driven plunge which could have been much worse, the World Trade Organization (WTO) said in a release on Tuesday. The Geneva-based body forecast in April that global trade...

Nigeria’s candidate for the position of the Director-General of the World Trade Organisation (WTO), Dr.Ngozi Okonjo-Iweala, has lamented that the organisation “delivered disappointingly” in major trade agreements. In an article published on Monday, Mrs Okonjo-Iweala noted that “since its establishment in 1995, the WTO has failed to conclude a single...

Some stakeholders have called for better information on the modalities surrounding the Africa Continental Free Trade Area (AfCFTA) Agreement. The stakeholders, mostly drawn from various Chambers of Commerce and business communities in Africa, made the call on Monday during a Special Half-day Workshop in Addis Ababa, Ethiopia. The consultative Workshop...

  As Sanwo-Olu woos Chinese investors to the State Lagos State Governor, Mr Babajide Sanwo-Olu, on Monday said the government would relocate the Lagos International Trade Fair to a permanent site in the near future even as he promised Chinese investors beneficial relationship. Sanwo-Olu said the moving of the site...

Nigeria has lost about $10 billion (about N3.6 trillion) over the past five decades in non-oil export opportunities in crops such as cocoa, oil palm, cotton and groundnut alone. The Managing Director/Chief Executive Officer of Nigeria Export Import Bank (NEXIM), Mr Abubakar Bello revealed at the weekend. Bello stated this...

  The Economic Community of West Africa States (ECOWAS) has decried low volumes of trade within the sub-region, adding that the share of intra-regional trade has averaged 11 per cent over the last five years. ECOWAS Commissioner for Trade Customs and Free Movement, Mr. Tei Konzi, disclosed this yesterday at...

The African Development Bank (AfDB), says the size of trade within the African Continental Free Trade Area (AfCFTA) is worth 3.3 trillion dollars. The president of AfDB, Akinwumi Adesina, said this at the ongoing Tokyo International Conference of African Development (TICAD) in Japan. According to a statement issued by the...