Tag: #Trade
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U.S. IMPOSES NEW TARIFFS ON NIGERIA, 80 OTHER COUNTRIES OVER FORCED LABOUR CONCERNS
The United States has announced new import tariffs of 10 and 12.5 per cent on goods from more than 80 countries, including Nigeria, citing concerns over alleged forced labour in global supply chains. The new measures, which take effect on Friday July 24, replace the earlier 10 per cent global duty introduced by President Donald…
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NIGERIA, EU DEEPEN PARTNERSHIP ON SECURITY, TRADE, INVESTMENT
Nigeria and the European Union (EU) have reaffirmed their commitment to strengthening bilateral ties, with renewed focus on security, trade, investment, renewable energy and sustainable development. The commitment was made during a meeting in Abuja between the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, and the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot. Both…
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GERMANY SEEKS STRONGER ENERGY, TRADE TIES WITH NIGERIA
Germany has reaffirmed its commitment to deepening cooperation with Nigeria in energy, trade and investment, describing the country as a strategic partner and a reliable supplier helping to strengthen Europe’s energy security. German Foreign Minister Johann Wadephul made the pledge during a reception in Lagos ahead of high-level talks with Nigeria’s Foreign Minister, Ambassador Bianca…
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JACK-RICH, ERIC TRUMP PUSH FOR SRONGER U.S.-NIGERIA PARTNERSHIP TO DRIVE AFRICA’S GROWTH
A stronger partnership between Nigeria and the United States could unlock new opportunities for economic growth, industrialisation and job creation across Africa, according to business leader Tein Jack-Rich. Speaking at the Celebrate America 250 event in Washington, D.C., the President of Belemaoil Group said Nigeria’s abundant natural resources, youthful population and strategic importance position it…
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NIGERIA, BRAZIL EXPAND AGRICULTURE PARTNERSHIP TO BOOST TRADE, FOOD PRODUCTION
Nigeria and Brazil have taken fresh steps to strengthen their agricultural partnership, agreeing to implement the Agro-Trade Market Access Initiative aimed at boosting food production, expanding agricultural exports and deepening economic cooperation between both countries. Vice President Kashim Shettima, speaking after a high-level Nigeria–Brazil meeting at the Presidential Villa in Abuja, said the partnership marks…
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U.S. MARKS 250TH INDEPENDENCE, REAFFIRMS STRONGER TRADE AND SECURITY TIES WITH NIGERIA
The United States Mission in Nigeria has reaffirmed its commitment to strengthening bilateral relations with Nigeria as it celebrated America’s 250th Independence anniversary in Lagos. The event brought together top government officials, diplomats, traditional rulers, business leaders and other dignitaries at the U.S. Consul General’s Residence in Ikoyi. Speaking at the celebration on Wednesday July…
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NIGERIA RECORDS N34.78 TRILLION TRADE VALUE IN Q1 2026 — NBS
Nigeria recorded a total merchandise trade value of N34.78 trillion in the first quarter of 2026, according to the National Bureau of Statistics (NBS). The report shows that exports stood at N21.17 trillion, representing 60.85% of total trade, with crude oil continuing to dominate Nigeria’s export basket. Non-crude oil and non-oil products also contributed to…
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AFRICAN EXPORTERS SEE GROWTH POTENTIAL IN CHINA’S ZERO-TARIFF POLICY
African experts say China’s zero-tariff policy presents a major opportunity for African countries to expand exports and strengthen trade ties. The policy, which covers 53 African countries, took effect on May 1 and was discussed during a webinar hosted by the Sino-SA Media Club. Experts noted that Africa can benefit significantly if countries improve production…
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NIGERIA’S PORTS RECORD STRONGER CARGO, VESSEL TRAFFIC IN Q1 2026
Nigeria’s maritime sector recorded notable growth in the first quarter of 2026, with the Nigerian Ports Authority (NPA) reporting increases in cargo movement, vessel traffic and port activities. According to the NPA, ocean-going vessel traffic rose by 19.5% to 46.75 million Gross Registered Tonnage, while total cargo throughput increased by 11.6% to 32.38 million metric…
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SAUDI ENVOY, DANGOTE MOVE TO BOOST INVESTMENT TIES BETWEEN BOTH ECONOMIES
Saudi Arabia’s Ambassador to Nigeria, Yousef bin Mohammed Al-Balawi, has met with billionaire businessman Aliko Dangote to deepen economic cooperation between both countries. The meeting, held at the envoy’s residence in Abuja’s Diplomatic Quarter, focused on expanding partnerships in energy, industry, infrastructure, and investment opportunities. Al-Balawi said the engagement reflects growing Saudi–Nigeria economic relations and…
