Global trade expanded by an estimated $300 billion in the first half of 2025, growing at an estimated 1.5% in the first quarter and projections showing 2% growth in the second. UN Trade and Development (UNCTAD) disclosed this in its just released Global Trade Update (July 2025). Said the report: Price increases contributed to the…
” Comptroller-General of Nigeria Customs Service, Bashir Adewale Adeniyi, said: “I am deeply grateful for my election as Chairperson of the Council.” The World Customs Organization (WCO) Council, the governing body of the organization, comprising the Heads of 186 Customs administrations, has formally endorsed Mr. Bashir Adewale Adeniyi, Comptroller-General of Nigeria Customs Service, as its…
The Nigeria Customs Service (NCS) has again been commended by the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, for its remarkable strides in customs modernisation and trade facilitation. The recognition came during the 145th/146th Sessions Opening of the Customs Co-operation Council, held on Thursday, June 26th, 2025, at the World Customs Organisation…
“Despite global headwinds, Africa’s trade rebounded strongly in 2024, with trade between African countries growing by 12.4% to reach US$220.3 billion, from a contraction of 5.9% in 2023. This shows the tangible benefits of AfCFTA implementation, even as the continent contends with rising inflation, sovereign debt risks, and a persistent trade finance gap.” Dr. Yemi…
The Nigeria Customs Service (NCS) has expressed a strong commitment to fast-tracking Nigeria’s integration into global trade systems through the adoption of international trade facilitation standards developed by the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT). This assurance was given during a high-level stakeholders’ interactive session organised recently by the Nigerian Export…
The Bashir Adeniyi Centre for International Trade and Investment (BACITI) of the Nigerian Institute Of international Affairs (NIIA), called on the Nigerian Ports Authority (NPA) to accelerate full digitalization of the port community system (PCS) across all major ports in the country. BACITI made the call in its just released May Economic Insight, noting that…
Benin Republic has emerged as the textile hub in West Africa.The Republic of Benin has quietly emerged as a hub for sourcing textiles for international and regional markets in West Africa. The Glo Djibe Industrial Zone (GDIZ), situated 45km from Cotonou, has aided Benin Republic’s emergence as the focal point for ultra-modern textile facilities where…
“The levies they listed include road maintenance levy (0.85% Cost Insurance and Freight (CIF), statistics levy (7.28% CIF), corridor security levy (0.50% CIF), Customs bond (0.25% CIF), Customs stamp (4% Stat), tracking (75,000 per truck).” Cross-border traders have continued to groan under the high cost of moving goods through the Lagos-Abidjan corridor, which they say,…
“In a statement on Friday, UNCTAD said that the conference series, held every five years, is the world’s highest-level multilateral meeting on competition and consumer protection.” The 9th edition of the United Nations Conference on Competition and Consumer Protection is set for 7-11 July in Geneva, convening national governments, antitrust and consumer authorities, legal experts,…
How many pieces of wood make a boat?
It depends on the size of the boat. For a big boat with 8-10 passenger capacity, we use about twelve pieces of wood. The small boat takes between 6-7 pieces of wood.
