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EXPORT TRADE: FCMB RALLIES OPERATORS TO DIVERSIFY AND STIMULATE ECONOMY

Export Trade: FCMB rallies operators to diversify and stimulate the economy Nigeria’s vast non-oil endowment must be urgently leveraged to diversify and expand its revenue base, reduce the dependence on crude oil for foreign exchange earnings, and stimulate rapid economic growth. Policymakers, financiers, export trade experts, and value chain players insisted on this in Lagos […]

IN TOGO THE AFRICAN DEVELOPMENT BANK SUPPORTED AGRO-FOOD PROCESSING PROJECT HITS IT’S STRIDES

In Togo, the African Development Bank-supported Agro-Food Processing Project hits its stride In the pilot Agropoli of Kara, located some 423 kilometers north of Lomé, the capital city of Togo, there is a constant hum of bulldozers and harrowers. A few meters away from the deafening noise, engineers and agricultural technicians are supervising the work […]

FG PLANS SUPPLEMENTARY BUDGET OVER RISING INFLATION, DEPRECIATION

The Federal Government may present a supplementary budget to the National Assembly due to a further depreciation of the naira and galloping inflation that have made the 2023 budget nearly unrealistic.   FG plans supplementary budget over rising inflation, depreciation The 2023 budget benchmarks the foreign exchange at N435/dollar and inflation at 17.10 percent but […]

FG VOWS TO MAKE NIGERIA AFRICA’S LARGEST WHEAT PRODUCER, EXPORTER

FG vows to make Nigeria Africa’s largest wheat producer, the exporter As Nigeria and other African countries suffer wheat shortage, the Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar, vowed to ensure Nigeria ranks as Africa’s largest wheat producer and exporter. Abubakar made the declaration in his keynote address delivered at the Stakeholders Validation […]

WTO OPENS REGISTRATION FOR THE WORLD TRADE CONGRESS ON GENDER

Under the theme “Gender Equality for Sustainable Trade and Recovery”, the World Trade Congress on Gender will take place at the WTO from 5 to 7 December to explore how gender equality can foster sustainable trade and how trade can support women in times of crisis. The Congress aims to highlight research work conducted by […]

WTO SECRETARIAT LAUNCHES TRADE REMEDIES DATA PORTAL

The WTO Secretariat on 1 November launched the Trade Remedies Data Portal, an online tool that provides access to information on members’ anti-dumping and countervailing duty actions. The new Portal provides a gateway to comprehensive data on all anti-dumping and countervailing duty actions notified by WTO members, displaying information in the form of searchable tables […]

THE AFRICA AGRICULTURE AND TRADE INVESTMENT FUND INVESTS $25 MILLION INTO UNION BANK OF NIGERIA

Union Bank of Nigeria (“Union Bank”) and the Africa Agriculture and Trade Investment Fund (“AIF”) have announced that the Bank has secured a $25 million funding line from AATIF to expand its agricultural business footprint. In response to the Nigerian government’s effort to reduce food imports and ultimately create a sustainable market for local farmers […]

LAGOS, GIZ PARTNER ON MSME’S GROWTH

The Lagos State Government has said its partnership with the Deutsche Gesellschaft für International Zusammenarbeit will promote the growth of Micro, Small, and Medium Enterprises in the state. The Special Adviser to the Governor on Commerce, Industry, and Cooperatives, Abiola Olowu, disclosed this, according to a statement on Monday, during a meeting of the steering […]

AfDB, FCMB READY $50m FOR SME’s, WOMEN’s BUSINESSES

The African Development Bank, AfDB, has signed a $50 million Line of Credit Agreement with Nigeria’s First City Monument Bank (FCMB) to support access to finance for small and medium-sized enterprises (SMEs), as well as women-empowered businesses (WEBs). FCMB will use the proceeds of the Line of Credit to finance SMEs and WEBs in Nigeria’s […]