NEWS
Firm sets up rice milling plant in Imo to boost production in S/East
Firm sets up rice milling plant in Imo to boost production in S/East
 News Date: 2021-05-06 Diva World Trading Services, brand owners of Diva Rice and other food related products, has set up a rice milling plant in Mgbidi, in Oru West Local Government Area of Imo State. The 30-ton digital rice mill, first of its kind in the state, will help make the country sufficient in rice ...... Read More
ITPC LAGOS & NICA SUSTAINING TRADE RELATIONS BETWEEN INDONESIA & NIGERIA
ITPC LAGOS & NICA SUSTAINING TRADE RELATIONS BETWEEN INDONESIA & NIGERIA
 News Date: 2021-03-02 Since 2009, the Indonesia Trade Promotion Center (ITPC) Lagos has been at the forefront facilitating trade and investments between Nigeria and Indonesia. Working closely with the Indonesian Embassy Abuja, ITPC Lagos continues to assist Nigerian and Indonesian companies identify business opportunitie... Read More
Nigeria’s economy moving in right direction but slow
Nigeria’s economy moving in right direction but slow
 News Date: 2021-02-26 Nigeria is moving in the right direction economically but its movements are not fast, the United Nations stated. Deputy Secretary-General of the United Nations, Amina Mohammed, said this during a meeting at the headquarters of the Federal Ministry of Industry, Trade and Investment in Abuja.... Read More
Lagos tops Nigeria’s investment destination with $8,304bn capital inflow
Lagos tops Nigeria’s investment destination with $8,304bn capital inflow
 News Date: 2021-02-16 Lagos State, Nigeria’s commercial city, has emerged top destination of capital investment in Nigeria, recording $829.64 million inflow in fourth quarter (Q4) 2020 and $8.304 billion in full-year 2020, the National Bureau of Statistics (NBS) latest report on Nigerian Capital Importation (Q4/ful... Read More
Forex crisis, major nightmare facing manufacturers, says MAN
Forex crisis, major nightmare facing manufacturers, says MAN
 News Date: 2021-02-04 The acute shortage of foreign exchange in Nigeria is a major operational nightmare facing manufacturers in the country, the Manufacturers Association of Nigeria said...... Read More
Customs awaits directives on tariffs for goods covered by AfCFTA agreement
Customs awaits directives on tariffs for goods covered by AfCFTA agreement
 News Date: 2021-01-21 Following the ratification of African Continental Free Trade Area (AfCFTA) agreement by member nations, the Nigeria Customs Service (NCS) says it is ...... Read More
Nigerian economy: Recovery, growth and sustainability
Nigerian economy: Recovery, growth and sustainability
 News Date: 2021-01-20 The Nigerian economy received much attention and was recognized as one of the fastest growing economies in the world between 2010 and 2014. Yet, when oil prices fell in 2014 ...... Read More
Sanwo-Olu to woo British investors at UK investment forum
Sanwo-Olu to woo British investors at UK investment forum
 News Date: 2021-01-18 Governor Babajide Sanwo-Olu, will lead members of his cabinet to engage British businesses and policy makers in a new push to attract foreign direct (FDI) investment into Nigeria and Lagos State in particular. Sanwo-Olu will present business opportunities ...... Read More
Manufactured goods imports gulped N9.28tn in nine months – NBS
Manufactured goods imports gulped N9.28tn in nine months – NBS
 News Date: 2021-01-11 A total of N9.28 trillion was spent on the importation of manufactured goods into Nigeria from January to September 2020; the latest data from the National Bureau of Statistics have shown.... Read More
World Bank projects 5% growth for Nigeria, others in 2021
World Bank projects 5% growth for Nigeria, others in 2021
 News Date: 2021-01-11 The World Bank projected a five percent growth for emerging market and developing economies in 2021. The January 2021 Global Economic Prospects report projected a return to global growth, but stated that risks would remain as economic activity and ...... Read More
World Bank projects Nigeria’s growth to rebound by 1.1% in 2021
World Bank projects Nigeria’s growth to rebound by 1.1% in 2021
 News Date: 2021-01-06 World Bank projects Nigeria’s growth to rebound by 1.1% in 2021 Nigeria’s economy is expected to recover in at 1.1% in 2021 from the estimated 4.1 contraction in 2020 and would further grow to 1.8% in 2022, the World Bank said in its January 2021 Global Economic Prospects.... Read More
Exchange rate pushed inflation to double digits – Manufacturers
Exchange rate pushed inflation to double digits – Manufacturers
 News Date: 2020-12-31 Chairman, Manufacturers Association of Nigeria, MAN, Apapa branch, Engr. Frank Onyebu, said that the persistent double-digit inflation rate in the economy was occasioned by an upsurge in exchange rates, Onyebu said this during the association’s general meeting in Lagos, explaining that foreign... Read More
Nigeria’s yearly exports to South Africa exceed $3.8 billion
 News Date: 2020-12-29 The Consul General of Nigeria to South Africa, Abdulmalik Ahmed, has said that Nigeria’s yearly exports to South Africa now exceed $3.8 billion.... Read More
President Muhammadu Buhari has ordered the immediate opening of four land borders.
President Muhammadu Buhari has ordered the immediate opening of four land borders.
 News Date: 2020-12-17 The borders are Seme in the southwest, Illela in Sokoto State, Maigatari in the northwest, and Mfun in the south-south.... Read More
IMF projects Nigeria’s economy to contract by 3¼in 2020
IMF projects Nigeria’s economy to contract by 3¼in 2020
 News Date: 2020-12-15 The International Monetary Fund (IMF) is projecting Nigeria’s real Gross Domestic Product (GDP) to contract by 3¼ % in 2020, the most in four decades.... Read More
Manufacturers, businesses relying more on unofficial FX, as scarcity worsens
Manufacturers, businesses relying more on unofficial FX, as scarcity worsens
 News Date: 2020-12-11 Business leaders and investors in Nigeria say they are facing an unprecedented shortage of foreign exchange with the contribution of supply from the official source falling in some cases to below 23% a ratio of their total FX requirement.... Read More
Nigeria’s trade deficit widens to N4.6trn as import outpace exports
Nigeria’s trade deficit widens to N4.6trn as import outpace exports
 News Date: 2020-12-09 Nigeria’s cost of importing commodities has again exceeded the value of its exports, resulting in a widening of its trade deficit to a record N4.6 trillion in the nine months of the year.... Read More
AfCFTA: FG warns against abuse of trade rules
AfCFTA: FG warns against abuse of trade rules
 News Date: 2020-12-08 The FG has warned that as Africa prepares for the Continental Trade Agreement (AfCFTA) in 2021, any form of abuse that could undermine the borders of respective countries and affect the markets could be a recipe for strained trade relations.... Read More
Stakeholders see Alaro city, free trade zones as key to economic recovery
Stakeholders see Alaro city, free trade zones as key to economic recovery
 News Date: 2020-12-02 With the dwindling fortunes of the nation’s economy, stakeholders have advocated for an increased focus on industrialization and vibrant trade flows in Nigeria’s free trade zones (FTZ).... Read More
China-Nigeria trade at $13.66 billion in 2020, largest in Africa
 News Date: 2020-12-02 The Chinese Embassy in Nigeria has said China-Nigeria trade relation remained the largest in Africa, with current volume at $13.66 billion for 2020, an increase of 0.7% over the previous year.... Read More
CBN boosts dollar supply with new rules on domiciliary accounts, remittance
CBN boosts dollar supply with new rules on domiciliary accounts, remittance
 News Date: 2020-12-01 In an apparent move to boost dollar supply into the economy, the Central Bank of Nigeria (CBN) yesterday introduced new rules that allow beneficiaries of diaspora remittance and transfers into domiciliary accounts to receive their money in foreign currency.... Read More
CBN RETAINS LENDING RATE AT 11.5%
CBN RETAINS LENDING RATE AT 11.5%
 News Date: 2020-11-26 The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5%. It also left other parameters the same. The CBN Governor, Godwin Emefiele, disclosed this.... Read More
Manufacturer’s obligations to suppliers mount on dollar shortage
Manufacturer’s obligations to suppliers mount on dollar shortage
 News Date: 2020-11-23 Manufacturers are forced to take huge credit from suppliers as the liquidity challenges in the foreign exchange market constrain their ability to pay on cash.... Read More
Inflation: NECA demands more practical interventions from FG
Inflation: NECA demands more practical interventions from FG
 News Date: 2020-11-23 Nigeria Employers Consultative Association, NECA, has decried increasing inflation rate in the country, contending that the recent developments in 2020 suggests that the policy options provided by CBN, in taming inflation need critical review.... Read More
Manufacturing sector crisis demands urgent attention
Manufacturing sector crisis demands urgent attention
 News Date: 2020-11-23 The confirmation that the manufacturing sector contracted for the sixth straight months in October, dampened hopes of Nigeria making a quick economic recovery. The Central Bank of Nigeria Purchasing Manager’s Index reported declines in eight key... Read More
Nigeria sees fastest yearly spike in food prices as poverty deepens
Nigeria sees fastest yearly spike in food prices as poverty deepens
 News Date: 2020-11-23 Border closure, covid-19 disruptions and recent End SARSprotest, which took a violent turn two weeks ago, have led to the fastest yearly rate in food prices as poverty rate continues to accelerate in Africa’s most populous nation.... Read More
Nigeria records $362.84m FDI in six months
Nigeria records $362.84m FDI in six months
 News Date: 2020-11-03 Nigeria recorded $362.84m Foreign Direct Investment in six months, figures from the National Bureau of Statistics revealed on Monday. The NBS’ latest capital importation report stated that while $214.25m FDI was recorded in the first three months of the year, ...... Read More
$1.5bn plant: Nigeria’ll soon stop importing steel
$1.5bn plant: Nigeria’ll soon stop importing steel
 News Date: 2020-10-26 The Minister of Finance, Budget and National Planning, Zainab Ahmed has said that with daily production of 1m metric, Nigeria will stop importing steel. She said with a stable steel sector, the nation is likely to be on the path of industrialization in the next five years...... Read More
Interest rate cut to 11.5% means more liquidity for banks, savings rate drop
Interest rate cut to 11.5% means more liquidity for banks, savings rate drop
 News Date: 2020-09-23 Nigeria’s Central Bank’s surprised deeper easing of its benchmark interest rate by 100 basis points to 11.5% from 12.5% in May 2020 is seen to translate to more liquidity for banks and further drop in savings rate.... Read More
Nigeria, Korea to deepen cooperation in shipping
Nigeria, Korea to deepen cooperation in shipping
 News Date: 2020-09-14 Nigeria and South Korea have agreed to intensify their collaboration in trade and shipping development. This was disclosed in a meeting the between the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, and Consul General, Embassy of ....... Read More
Buhari warns CBN against funding food, fertilizer imports
Buhari warns CBN against funding food, fertilizer imports
 News Date: 2020-09-14 President Buhari warned the CBN not to fund requests to import food and fertilizers into the country. Buhari gave the directive to the National Food Security Council at the State House, Abuja, saying that he would now pass it down in writing that ‘nobody importing food should be given money... Read More
FX outflows for imports, invisible jump by 146.15% in May – CBN
FX outflows for imports, invisible jump by 146.15% in May – CBN
 News Date: 2020-09-10 Foreign exchange outflow through autonomous sources mainly for imports and invisibles rose significantly by 146.15% to $0.32 billion in May 2020, above the leveled of $0.13 billion in April 2020, because of partial ease in lockdown restrictions.... Read More
Recession looms with 47.15% of NSE 30 firms in decline
Recession looms with 47.15% of NSE 30 firms in decline
 News Date: 2020-09-10 There are indications that a second recession in five years is inevitable, as profits of nearly half of the largest companies on the Nigerian bourse slumped as coronavirus dented the economy.... Read More
Nigeria records N1.8tn trade balance deficit – NBS
Nigeria records N1.8tn trade balance deficit – NBS
 News Date: 2020-09-07 Nigeria recorded trade deficit of N1.8tn at the end of the second quarter. The National Bureau of Statistics disclosed this in its ‘Foreign trade in goods statistics’ report for the second quarter, which was released recently.... Read More
Nigeria, Korea agree to expand cooperation in trade, shipping development
Nigeria, Korea agree to expand cooperation in trade, shipping development
 News Date: 2020-09-07 Nigeria and Korea have agreed to intensify and expand collaboration in bilateral trade and shipping development in line with global economic dynamics. According to a statement by Philip Kyanet, head, Corporate Communications of NIMASA, ....... Read More
Economy: Industry leaders warn of gloom ahead
Economy: Industry leaders warn of gloom ahead
 News Date: 2020-08-31 Against the backdrop of adverse Gross Domestic Product, GDP figures reported for the second quarter of 2020, Q2’ 20, many industry leaders have painted a gloomy picture of the implications. GDP report of the Nigerian Bureau of Statistics (NBS) released showed economic downturn of 6.1%. ...... Read More
Gold West Africa restates commitment to build an ecosystem for gold to thrive in Nigeria
Gold West Africa restates commitment to build an ecosystem for gold to thrive in Nigeria
 News Date: 2020-08-31 Gold West Africa restates commitment to build an ecosystem for gold to thrive in Nigeria Gold West Africa has restated its commitment to building an ecosystem for gold business to thrive in Nigeria. Kolade Apata of Gold West Africa said the overall goal at Gold West Africa is to build ......... Read More
Importers groan under surcharges levied on Nigerian cargo
Importers groan under surcharges levied on Nigerian cargo
 News Date: 2020-08-21 Importers have decried the huge surcharge imposed on them by the international shipping firms on cargoes imported from across the world. According to the importers, these ...... Read More
Foreign reserves fall by $544.94m in six weeks
Foreign reserves fall by $544.94m in six weeks
 News Date: 2020-08-21 The country’s foreign reserves fell by $544.94 million from $36.17 bn on July 1 to $35.62 billion on August 13, the latest figures from the Central of Nigeria have shown.... Read More
Establish intervention funds for natural rubber – farmers tell FG
Establish intervention funds for natural rubber – farmers tell FG
 News Date: 2020-08-21 Stakeholders in the rubber production subsector in the country have called on the Federal government to set aside intervention funds for the development of rubber plantations, processing and manufacturing.... Read More
Dollar squeeze chokes Nigeria’s economy with recession looming
Dollar squeeze chokes Nigeria’s economy with recession looming
 News Date: 2020-08-20 Nigeria’s foreign currency shortage is squeezing life out of Africa’s biggest economy and as in 2015, recession is beckoning. According to Bloomberg, banks won’t honor card payments, foreign investors can’t get their money out and manufacturers are unable to import vital ... Read More
AgriBusiness: NACCIMA, Indonesian Trade Promotion Centre Strengthen Relations Between Both Countries
AgriBusiness: NACCIMA, Indonesian Trade Promotion Centre Strengthen Relations Between Both Countries
 News Date: 2020-08-19 The Indonesian Ambassador to Nigeria, H.E Dr. Usra Hendra Harahap, has stated that increased partnerships between Nigerian and Indonesian Businesses will serve as a good medium for private sectors in both countries, to acquire appropriate ........ Read More
FG evaluates Nigeria’s investment treaties to harvest benefits, avoid litigation
FG evaluates Nigeria’s investment treaties to harvest benefits, avoid litigation
 News Date: 2020-08-12 FG evaluates Nigeria’s investment treaties to harvest benefits, avoid litigation The Federal Government is to undertake a series of reforms of Nigeria’s Bilateral International Treaties (BIT) to attract responsible, inclusive, balanced and sustainable investments. ...... Read More
Nigeria earns N289.3bn from export of 10 Agric produce – NBS
Nigeria earns N289.3bn from export of 10 Agric produce – NBS
 News Date: 2020-08-12 The National Bureau of statistics (NBS) has said that Nigeria earned about N289.3 billion from exporting top 10 agricultural produce between April 2019 and March 2020. The bureau said that sesame seeds and cocoa beans are two Nigeria’s ....... Read More
Nigeria will become West Africa’s gold-producing hub – FG
Nigeria will become West Africa’s gold-producing hub – FG
 News Date: 2020-08-12 Nigeria is son its way to becoming a major gold-producing hub in the West African region, the Federal Government has declared. According to the government, this would diversify the country’s revenue base from crude oil and create jobs for ........ Read More
Nigeria open to investment in local bitumen production
Nigeria open to investment in local bitumen production
 News Date: 2020-08-07 Nigeria has opened its doors to private investors who are looking for opportunity in the local production of bitumen in the country. A policy designed for this has been approved by the country’s executive council, Babatunde Fashola, the minister of works and housing said, describing as ...... Read More
Commencement of AfCFTA in 2021 would boost economies of member nations – Experts
Commencement of AfCFTA in 2021 would boost economies of member nations – Experts
 News Date: 2020-08-07 Legal experts have assured that the commencement of the African Continental Free Trade Agreement (AfCFTA) in January 2021 would boost the economies o member nations. ....... Read More
An overview: Foreign participation in business in Nigeria
An overview: Foreign participation in business in Nigeria
 News Date: 2020-08-06 Nigeria is a sub-Saharan country with a population of over 200 million and a labour force of over 62 million people. With a labour force the size of the United Kingdom, Nigeria provides several investment opportunities to investors as the largest economy in Africa. ...... Read More
Nigeria, Israeli firm sign MoU on ethanol production
Nigeria, Israeli firm sign MoU on ethanol production
 News Date: 2020-08-06 The Federal Government signed a Memorandum of Understanding with the DOR Group of Israel for the production of ethanol in Nigeria. Minister of Science and Technology, Ogbonnaya Onu, ...... Read More
Nigeria’s FX access restriction for maize to attract investments – Experts
Nigeria’s FX access restriction for maize to attract investments – Experts
 News Date: 2020-08-06 The recent move by the Nigeria government to restrict FX access for importers of maize will drive investments into the maize subsector, experts in the agricultural sector say. ...... Read More
Thailand cuts export forecast by 5m tones amid loss of Nigerian market
Thailand cuts export forecast by 5m tones amid loss of Nigerian market
 News Date: 2020-07-27 Thailand cuts export forecast by 5m tones amid loss of Nigerian market Thailand Rice Exporters Association has cut rice export forecasts for 2020 by five million due to the corona virus pandemic, draught and a strong baht. This coming at a period the country lost its market share in ....... Read More
CBN’S import ban and Nigeria’s looming maize crisis
CBN’S import ban and Nigeria’s looming maize crisis
 News Date: 2020-07-27 Nigeria, like many other African countries that rely on the agricultural sector for their food sustenance and employment generation, is experiencing unfolding events in the country since the World Health Organization (WHO) declared the COVID-19 outbreak a global pandemic on Feb. ........ Read More
Inflation worsening Nigeria’s precarious state
Inflation worsening Nigeria’s precarious state
 News Date: 2020-07-15 When basic necessities needed for the survival of the common man in Nigeria become less affordable, then the country is really in a crisis. This is what defines Nigeria currently. The general increase of in prices of goods and services without corresponding increase in income levels, ......... Read More
Currency in circulation dropped to N2.29trillion
Currency in circulation dropped to N2.29trillion
 News Date: 2020-07-15 Currency in circulation dropped by N52.5bn from N2.35trn in June, the latest figures from CBN showed. Recent figures showed that there was a steady rise in cash in circulation during lockdown introduced in some states to contain the covid-19 pandemic in the country.... Read More
CBN’s snail-paced exchange rate unification frustrates investors
CBN’s snail-paced exchange rate unification frustrates investors
 News Date: 2020-07-09 Central Bank of Nigeria (CBN) may have taken an extra step towards unifying its multiple exchange rates eventually by devaluing the naira at one of its currency intervention sales, but investor’s confidence remains extremely bad. “Although it shows that the CBN is gradually starting ... Read More
China’s plan to cancel Africa’s debts
China’s plan to cancel Africa’s debts
 News Date: 2020-07-09 The recent announcement that China will cancel the interest-free debts of African countries originally due to mature by the end of 2020 is a huge relief to the continent. Chinese President, Xi Jinping, who made the disclosure at the Extraordinary China-Africa Summit on June 17, said ........ Read More
Nigeria records N124.77b trade deficit in Q1
Nigeria records N124.77b trade deficit in Q1
 News Date: 2020-06-24 Nigeria recorded a trade deficit of N125.77billion in the First Quarter(Q1) of 2020, the National Bureau of Statistics (NBS) has disclosed. Its report titled “Commodity price indices and terms of trade Q1” posted on its website on Wednesday....... Read More
Nigeria:
Nigeria: '22% of Nigeria's MSMEs Face Financing Hurdles'
 News Date: 2020-06-23 Small business owners in Nigeria have identified problem of accessing funds as the biggest challenge hampering their growth initiatives, and by implication, their capacity to improve their contribution to the nation's Gross Domestic Product (GDP).... Read More
Firm, CBN float tomato processing factory in Kebbi
Firm, CBN float tomato processing factory in Kebbi
 News Date: 2020-06-23 The tomatoes value chain received a boost in Kebbi State with the launch of a N20 billion tomatoes processing factory. The factory firm is a partnership venture between GB foods, the CBN, Kebbi State government and Emirate of Yauri. GBfoods says the factory is the second.......... Read More
Inflation rate jumps to 2-year high of 12.40%
Inflation rate jumps to 2-year high of 12.40%
 News Date: 2020-06-18 Nigeria’s inflation rate rose for the ninth consecutive month in May amidst increase in food and drug prices, the statistics office said on Wednesday as the coronavirus pandemic disrupted supply chains and economic activities. The Consumer Price Index, which measures inflation, rose to 12.4... Read More
Emefiele insists CBN will not sell forex for importation of items produced in Nigeria
Emefiele insists CBN will not sell forex for importation of items produced in Nigeria
 News Date: 2020-06-18 FG is determined to return the Nigerian economy to the period when the manufacturing and agricultural sectors formed the base of the economy........ Read More
Naira drops again at the black market as news of exchange rate unification stirs.
Naira drops again at the black market as news of exchange rate unification stirs.
 News Date: 2020-06-18 The drop in the value of the naira can be attributed to the pressure in the foreign exchange.......... Read More
Maritime contributes N7trn yearly to Nigerian economy –Shippers’ council
Maritime contributes N7trn yearly to Nigerian economy –Shippers’ council
 News Date: 2020-06-17 The maritime sector’s contribution to the national economy stands at N7 trillion annually, the Nigerian Shippers’ Council (NSC) has revealed. Nevertheless, the industry requires the support of the Central Bank of Nigeria to be able to reach its full potential.......... Read More
E-commerce Contributions to Employment Creation of Economic Growth in Nigeria
E-commerce Contributions to Employment Creation of Economic Growth in Nigeria
 News Date: 2020-06-17 The World Bank in a 2019 joint research with e-Commerce giant, Alibaba, reaffirmed the huge benefits of e-Commerce as a potent instrument for job creation, improved quality of human life and economic growth in developing countries. .......... Read More
Nigerian Shippers Lost Over N15trn To Covid-19 Pandemic-SALS
Nigerian Shippers Lost Over N15trn To Covid-19 Pandemic-SALS
 News Date: 2020-06-11 The Shippers Association of Lagos State (SALS) has revealed that Nigerian shippers lost over N15 Trillion in three months due to the outbreak of the Covid-19 pandemic which crippled global economy. SALS President, Rev. Jonathan Nicole, while speaking with newsmen.... Read More
CBN waives guarantor requirement for SMEs, households credit
CBN waives guarantor requirement for SMEs, households credit
 News Date: 2020-06-11 The Central Bank of Nigeria (CBN), has waived the requirement for the provision of guarantors by Small and Medium Enterprises (SMEs) and households that applied for its N50billion COVID-19 targeted credit facility.... Read More
Nigeria’s foreign reserve hits $36.57 billion.
Nigeria’s foreign reserve hits $36.57 billion.
 News Date: 2020-06-06 Nigeria’s foreign reserve has increased to $36.57 billion as of May 5, the latest figures by the Central Bank of Nigeria (CBN) has revealed. The new figures rose from about $33.42 billion recorded as of April 29.... Read More
LCCI, MAN praise CBN on bailout funds
LCCI, MAN praise CBN on bailout funds
 News Date: 2020-06-06 Manufacturers have praised efforts of the Central Bank of Nigeria (CBN) on the planned disbursement of N93.2 billion out of N1 trillion intervention fund targeted at manufacturing and agribusiness sectors for economic recovery, post COVID-19.... Read More
Economic outlook projects 5.3% return for equities in 2020
Economic outlook projects 5.3% return for equities in 2020
 News Date: 2020-01-08 Latest Nigeria’s economic outlook has projected that the equities market would likely return at +5.3 per cent, driven by local demand for high-quality dividend-paying stocks and increased system liquidity.... Read More
Indices rebound by 2.09% over renewed stocks’ appetite
Indices rebound by 2.09% over renewed stocks’ appetite
 News Date: 2020-01-08 Analysts predict mixed performance for equities this year Buying interest in the shares of some bluechip stocks drove the local bourse northward for four consecutive days last week, sustaining the positive trend since the beginning of the week.... Read More
ITPC LAGOS 2020 PROGRAMME
ITPC LAGOS 2020 PROGRAMME
 News Date: 2019-12-23 ITPC Lagos will be at the following exhibition in 2020 1. EQUIPMENT & MANUFACTURING WEST AFRICA (April 28-30). http://emwestafrica.com... Read More
Nigeria’s Agric sector grows 2.28% in Q3, fastest since Q1 2019
Nigeria’s Agric sector grows 2.28% in Q3, fastest since Q1 2019
 News Date: 2019-12-10 Nigeria’s agricultural sector grew 2.28% in the third quarter of the year; the latest data released by the National Bureau of Statistics (NBS) have shown. This is the fastest growth reported in the sector since the first quarter of 2019 when the sector grew by 3.17 percent on an annual basi... Read More
Indonesia Products to be present at the Lagos International Trade Fair 2019
Indonesia Products to be present at the Lagos International Trade Fair 2019
 News Date: 2019-10-22 Lagos Trade Fair 2019... Read More
TEI Journal 2019 (Day 3 pg. 1)
TEI Journal 2019 (Day 3 pg. 1)
 News Date: 2019-10-21 TEI 2019... Read More
TEI Journal 2019 (Day 3 pg. 2)
TEI Journal 2019 (Day 3 pg. 2)
 News Date: 2019-10-21 TEI 19... Read More
TEI Journal 2019 (Day 3 pg. 3)
TEI Journal 2019 (Day 3 pg. 3)
 News Date: 2019-10-21 TEI 19... Read More
TEI Journal 2019 (Day 3 pg. 4)
TEI Journal 2019 (Day 3 pg. 4)
 News Date: 2019-10-21 TEI 19... Read More
TEI Journal 2019 (Day 1 pg. 1)
TEI Journal 2019 (Day 1 pg. 1)
 News Date: 2019-10-18 The Indonesian government has set itself the target of concluding 12 trade agreements, including eight with non-traditional markets in 2020, as part of its strategy to boost exports... Read More
TEI Journal 2019 (Day 2 pg. 1)
TEI Journal 2019 (Day 2 pg. 1)
 News Date: 2019-10-18 Indonesia- South Korea's Trade negotiations kicks off... Read More
TEI Journal 2019 (Day 1 pg. 2)
TEI Journal 2019 (Day 1 pg. 2)
 News Date: 2019-10-18 Joining hands to tap expo market... Read More
TEI Journal 2019 (Day 1 pg. 3)
TEI Journal 2019 (Day 1 pg. 3)
 News Date: 2019-10-18 Market penetration... Read More
TEI Journal 2019 (Day 1 pg. 4)
TEI Journal 2019 (Day 1 pg. 4)
 News Date: 2019-10-18 Awards... Read More
TEI Journal 2019 (Day 2 pg. 2)
TEI Journal 2019 (Day 2 pg. 2)
 News Date: 2019-10-18 TEI 19... Read More
TEI Journal 2019 (Day 2 pg. 3)
TEI Journal 2019 (Day 2 pg. 3)
 News Date: 2019-10-18 TEI 19... Read More
TEI Journal 2019 (Day 2 pg. 4)
TEI Journal 2019 (Day 2 pg. 4)
 News Date: 2019-10-18 TEI 19... Read More
As World wavers on Free Trade, Africa Embraces it
As World wavers on Free Trade, Africa Embraces it
 News Date: 2019-10-17 Dock workers load sacks onto a cargo ship at Mombasa port. Amid trade tensions between the U.S., China and Europe, and the U.K.’s fraught departure from the European Union and single market, African leaders are moving in the opposite direction to establish the world’s largest free-trade... Read More
The West Africa Automotive Show 2019
The West Africa Automotive Show 2019
 News Date: 2019-10-09 WAAS is an event dedicated to the West African automotive industry. It will showcase the range of vehicle parts and accessories needed to keep cars, trucks, buses, motorbikes and commercial vehicles on Nigeria and West Africa’s roads.... Read More
TRADE EXPO INDONESIA 2019
TRADE EXPO INDONESIA 2019
 News Date: 2019-09-23 ITPC Lagos has signed MoU with Ethiopian Airline to be one of the recommended airline carriers of the 34th Trade Expo Indonesia .... Read More
LLCCI seeks change of import trading policy from CIF to FOB
 News Date: 2019-09-11 The freight Forwarders Group of Lagos Chamber of Commerce and Industries (LCCI) has called for a change in Nigeria’s import Trade Act from Cost Insurance and Freight (CIF) to Free on Board (FOB).... Read More
CBN stops credit payments for milk imports
 News Date: 2019-09-11 The central bank of Nigeria (CBN) has told lenders to stop processing milk imports on a credit basis, bankers said it would ban access to foreign currency for the imports to encourage local production.... Read More
How Federal Government’s forex ban on food imports will squeeze Nigerian consumers
 News Date: 2019-09-11 With the forex ban, importers will have to source their dollars outside the official window at a higher cost to import; this translates to higher cost of production which will be transferred to the consumers.... Read More
Food import: AFBTE Advises CBN on Forex Ban
 News Date: 2019-08-27 The Association of Food, Beverage & Tobacco Employers, has urged the Central Bank of Nigeria to engage operators in the food industry, before it implements the ban on forex for food importation.... Read More
Investment commitments in Nigeria falls 67% to $15.15bn in six months
 News Date: 2019-08-08 Investments commitment to various sectors of the Nigerian economy fell by 67% in the first half of 2019 to $15.15 billion compared to $45.74 billion pledged in the comparative period of the previous year... Read More
Fresh threat for Nigerian’s revenue as U.S – China trades war intensifies
 News Date: 2019-08-08 Nigeria’s revenue projections may be facing a fresh threat as the trade war between the United States and China gets fiercer. The intensifying trade war could see oil price sink to as low $30, Bank of America Merrill Lynch warned.... Read More
Flutterwave opens up Africa-China trade market through Alipay partnership
 News Date: 2019-08-08 Flutterwave, a payment technology platform, has announced its partnership with Alipay of China, thereby opening up Africa’s market to Chinese buyers.... Read More
AfDB offers AU $5m grant for AfCFTA implementation
 News Date: 2019-08-08 The take off of the African Continental Free Trade Area (AfCFTA) got a notch better when the African Development Bank (AfDB) Group, signed a $4.8 million institutional support grant to the African Union (AU) for its implementation.... Read More
HOW Nigeria economy will benefit from AfCFTA
 News Date: 2019-07-15 It will be possible to penetrate other African countries without barriers and be able to export to any part of the continent. One can, from Nigeria provide logistics services to any firm in Africa without in country restrictions.... Read More
How to make Africa’s free trade deal work for Nigeria
 News Date: 2019-07-15 With Nigeria’s joining of the African Continental-Free Trade Area (AfCFTA) a done deal, the country’s chances of benefiting from the treaty could depend on how resourcefully it gets its economic acts together.... Read More
Why Nigeria’s import, export procedures failed
 News Date: 2019-07-15 Nigeria’s import, export, regulatory and transit procedures are encumbered by lengthy procedures associated with unnecessary delays, high transaction cost and increase of cargo dwell time, which makes the local ports among the most expensive in the world.... Read More
Kwik Launches In Lagos to Provide B2B, On-Demand Delivery Service
 News Date: 2019-07-15 Committed to providing B2B focused, on-demand and last-mile delivery service in Nigeria, Africa Delivery Technologies, which trades as Kwik, has launched in Lagos.... Read More
Nigeria’s capital inflow hit $8.485b in Q1 2019, says NBS
 News Date: 2019-07-15 The National Bureau of statistics (NBS) yesterday declared that Foreign Direct Investments (FDIs) inflows to Nigeria in the first quarter of this year stood at $8.485 billion.... Read More
CBN bans FX for textile import, plans single-digit lending for sector …
 News Date: 2019-05-27 The Central Bank of Nigeria (CBN) has announced a ban of foreign exchange (FX) access for the importation of all forms of textiles as part of measures to revive the ailing sector. The inclusion of textile brings to 43 the number of items which the apex bank has banned from FX access since 2015 when... Read More
In expansion push, Olam acquires Indonesian cocoa processor
 News Date: 2019-05-27 Food and agri-business giant, Olam International has announced the acquisition of Indonesia’s largest cocoa processor, BT Cocoa.... Read More
Nigeria, India build partnership to harness opportunities in pharmaceuticals
 News Date: 2019-05-27 Import of drugs and pharmaceuticals present growth opportunities and Nigeria is partnering with India to improve patient’s access to medicine as Africa’s most populous nation develops manufacturing capabilities.... Read More
Nigeria’s oil palm import from Malaysia hits 242,388MT amid increase in local production
 News Date: 2019-05-27 Despite the yearly increase recorded in palm oil production, Nigeria’s import of the product from top producers – Malaysia has hit 242,388 metric tons in 2018, data from the Malaysian Palm Oil Council (MPOC) shows.... Read More
Economic growth remains weak at 2% in Q1’19-Analysts forecast
Economic growth remains weak at 2% in Q1’19-Analysts forecast
 News Date: 2019-05-22 ... Read More