Nigeria is among the countries subject to the 12.5 percent tariff, while India, Indonesia, Malaysia, Mexico and the United Kingdom will face a lower 10 percent rate after adopting or committing to implement bans on imports linked to forced labour.
” The bottlenecks include foreign exchange (FX) constraints, excessive port charges, cumbersome export procedures and regulatory bottlenecks that continue to frustrate businesses engaged in international trade,
Photo: Dangote, and Ayedatiwa “We want to create the biggest free trade zone where investors can just come and plug in. We will generate power, provide infrastructure, and remove the bottlenecks around doing business,” said Aliko Dangote . Dangote made the declaration during a courtesy visit to Ondo State Governor, Lucky Orimisan Aiyedatiwa in his…
Providing details of the $1bn AfCFTA Adjustment Fund Credit Facility, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, said that the facility is targeted at large African businesses with a minimum financing capacity of $10m.
” Many African countries have lost market share in key international markets and face increasing trade barriers. We have to build a strong domestic market within Africa because our future growth lies here on the continent,” he said
Founder and Executive Vice Chairman, SecureID, Kofo Akinkugbe noted that the company currently produces over 60 percent of locally issued payment cards in Nigeria, reflecting the scale, reliability and reach of its operations.
“In export development, the scheme is performing relatively well in the services sector, including international catering, shipbuilding and repairs, oil and gas, and aviation management services,” said the NEPZA MD.
A breakdown of UK exports to Nigeria revealed that the second-largest export category from the UK to Nigeria was toilet and cleansing preparations, valued at £70.2 million and accounting for just 4.0 per cent of total goods exports.
The First Abu Dhabi Bank, FAB, would soon commence operations in Lagos, a development expected to further strengthen business and investment ties between both countries.
