The Securities and Exchange Commission (SEC) Nigeria has said that the implementation of the Pan-African Payment Settlement System (PAPSS) will boost intra-African trade and diversification within the capital market in the years ahead. The Head, Office of the Chief Economist of the capital market regulatory commission, Dr. Okey Umeano, made this remark during the signing […]
President Muhammadu Buhari has urged the world’s developed countries to grant duty-free and quota-free market access for exports from the world’s 46-least developed countries (LDCs) in order to promote fairness and boost the global merchandize trade. Buhari, who was quoted as making the call in a statement by his media aide, Garba Shehu, during the […]
The Federal Operations Unit Zone ‘B’ Kaduna has reported that it recorded 130 seizures of different contraband items at various locations in the Zone with total Duty Paid Value (DPV) of N305.71 million from January to February this year The Zonal Public Relations Officer, Superintendent of Customs (SC), I. Sulaiman, listed the seized items as […]
The Economic Commission for Africa (UNECA) has reported that the implementation of the African Continental Free Trade Area (AfCTA) agreement increased intra-African trade by 20% in 2022. The Executive Secretary of the commission, Antonio Pedro, made this disclosure at the 9th session of the African Regional Forum on Sustainable Development held in Niamey, Niger Republic. […]
The National Council on Privatisation (NCP) has approved nine companies to immediately commence a nationwide verification of NIPOST Properties & Development Company Limited, with a view to determining the current titles and ownership status of the properties nationwide. The decision on the entities was taken during the 2nd meeting of the Council this year chaired by […]
….endorses merger of Egbin Power, KEPCO Plant The National Council on Privatisation (NCP) has approved Mainstream Energy Solutions Limited (MESL) as the preferred bidder for the concession of the Zungeru Hydroelectric Power plant (ZHPP) for a yearly fee of $70,000.251 over the next 30 years. The Council, which gave the approval at its 2nd meeting for […]
President Muhammadu Buhari has charged the Ministry of Finance Incorporated (MOFI) to grow its assets under management from the current value of N18 trillion to at least N100 trillion in the next 10 years. The president gave the charge at the launch of the new MOFI and inauguration of the Governing Council and Board of […]
TradeMark East Africa, one of the world’s leading aid for trade organisations, has today rebranded to TradeMark Africa (TMA) and simultaneously officially launched its West Africa operations. Founded in 2010 in Kenya, today marks TradeMark Africa expansion from its previous core operational area of East Africa and the Horn, to also support countries in West […]
The Minister of Information and Culture, Mr. Lai Mohammed, has disclosed that the Federal Government has concluded arrangement to make final $50 million payment next month to finalize the concession of the $496 million Ajaokuta Steel Company. The minister, in a statement apparently issued to debunk comments recently made by Atiku Abubakar, the PDP presidential […]
The UK Government has estimated that following the latest downward review of tariffs and extended duty free trade in goods exported from Nigeria to United Kingdom, Nigeria will yearly save over £750 million in export charges. The UK Deputy British High Commissioner to Nigeria, Mr. Ben Llewellyn-Jones, who made this disclosure during the launch of […]