From left: Minister of State for Finance, Dr Doris Uzoka-Anite; Minister of Marine Economy, Mr Gboyega Oyetola; chairman, Senate Committee on Finance, Senator Sani Musa; Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; chairman, Federal Inland Revenue Service, Dr Zacch Adedeji; Managing Director, Nigerian Port Authority (NPA), Dr Abubakar Dantsoho; head, National Single Window…
“Come make your product in America and we will give you among the lowest taxes of any nation on earth,” said US President Donald Trump. President Trump spoke on Thursday, remotely to the World Economic Forum in Davos, Switzerland. He said : “But if you don’t make your product in America, which is your prerogative, then…
▪︎President Donald Trump signs an executive order as he attends an indoor Presidential Inauguration parade event at Capital One Arena, Jan. 20, 2025, in Washington. Credit: VOAnews. President Donald Trump began his second term in office on Monday , as the 47th President of the United States of America. He got down to work by…
The German Federal Ministry for Economic Cooperation and Development (BMZ) is contributing EUR 600,000 (approximately CHF 560,000) to the Standards and Trade Development Facility (STDF) to help developing economies and least-developed countries (LDCs) meet international food safety, animal and plant health standards for trade and improve their access to global and regional markets. The STDF is…
Ghana has scrapped visa requirements to enter the country for citizens of all African nations. The new policy is expected to boost travel, trade, and tourism. Joy Online, a local paper, reported that Ghana previously granted visa-free entry to citizens of 26 African nations and visas on arrival to travelers from 25 others, with only two…
UN trade and development (UNCTAD) says the current trade growth in the services sector notwithstanding, it cannot generate enough quality jobs in developing countries. UNCTAD therefore calls for an ambitious policy mix towards green transition and promoting labour-absorbing activities, especially in the non-tradable services sectors. “Some examples can be construction, retail, various types of care…
President Bola Tinubu assured that the 2025 budget will boost human capital development, increase the volume of trade and investments, bolster oil and gas production, and get manufacturing sector humming again, and ultimately increase the competitiveness of our economy. The N47.9 trillion 2025 budget, christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity, was presented to the…
WTO’s Goods Trade Barometer has shown that world merchandise trade volume rose 1.1% quarter-on-quarter and 3.3% year-on-year, on a seasonally adjusted basis, in the third quarter of 2024. This marks the fourth consecutive quarter of moderate trade expansion. By comparison, merchandise trade in current US dollar terms was up 4.3% year-on-year in Q3. This represents…
The latest Global Trade Update published by UN Trade and Development (UNCTAD) reports that Global trade is set to reach a record $33 trillion by the end of 2024. The reports indicate that the $1 trillion increase reflecting 3.3% annual growth, highlights resilience in global trade despite persistent challenges. Said the reports: “Robust growth in services trade,…
▪︎Export N20.48trn ▪︎ Import N14.67trn The National Bureau of Statistics (NBS) said Nigeria recorded N5.81 trillion trade surplus in the third quarter of 2024 (Q3’24).This represents a 298 per cent year-on-year (YoY) increase in trade surplus from N1.3 trillion recorded in Q3’23. NBS disclosed this today in its foreign trade in goods statistics for Q3…
