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Tag: Export

Nigerian food exports rise amid naira devaluation concerns
News

Nigerian food exports rise amid naira devaluation concerns

Melvin Onwubuke The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Dele Kelvin Oye Esq., has said that the recent devaluation of the naira was fuelling food and grain export to West African countries as Nigeria’s food is now the cheapest in the West African, region due to the […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

Crude hits $83 as Nigeria’s export passes 1.4mbpd

Data from the Federal Government indicates Nigeria’s oil output surged to 1,426,574 barrels per day in January 2024. This news caused the global benchmark for crude, Brent, to rise to $83.19/barrel on Tuesday evening, moving up $1.19 from its overnight price. The PUNCH stated that, Nigeria would receive more foreign cash due to the small […]

Japan's exports slip, sparks global economic concerns
News

Japan’s exports slip, sparks global economic concerns

Japan has experienced a decline in its exports for the first time in almost two and a half years, driven by weakened demand for light oil and chip-making equipment. This situation has raised worries about a possible global recession, particularly as key markets like China face a drop in demand. Recent data from the Ministry […]

NEPC, GIZ promote production in agricultural sector
Business

NEPC trains 50 onion farmers, marketers on export process in Sokoto

50 onion farmers and marketers have received training from the Nigerian Export Promotion Council on export regulations, financial incentives, and other value chains. The NEPC Trade Adviser and Head of the Sokoto zonal office, Yahaya Ahmad-Sukaraiju, stated that the training was a part of the organization’s attempts to educate company owners about onion value chains. Ahmad-Sukaraiju […]

Only four Nigeria states attract foreign investment in Q4 - Report
Business

Lagos ports processed 90% Nigerian exports in Q1 – NBS

In the first quarter of 2023, various ports in Lagos handled 97.13 percent of exports and 81.5 percent of imports, accounting for about 90 percent of all import-export transactions in Nigeria. Results from the National Bureau of Statistics Foreign Trade in Goods Statistics for Q1’23 reveal that N10.83 trillion, or 89.9% of Nigeria’s overall trade of N12.05 […]

US, EU forge alliance to address China's export control
News

US, EU forge alliance to address China’s export control

In a significant move to address mounting concerns about China’s non-market practices, Washington and the European Union are set to announce their commitment to joint action and coordinated export controls. The draft statement, providing a glimpse into the upcoming EU-U.S. Trade and Technology Council meeting, reveals a strategic alliance aimed at tackling economic coercion and […]

Nigeria is Norway's top importer of stockfish - Report
Foods

Stockfish importers complain about currency ban on products

The Premier Stockfish Importers Association of Nigeria asserts that given the ongoing prohibition on stockfish from accessing foreign exchange, the future of the stockfish industry is likely to remain bleak. According to the News Agency of Nigeria, this was said in an interview on Thursday in Lagos by the association’s chairman, Mr. Gregory Ilobinso. Stockfish, […]

NAFDAC cuts licensing fees by 65%
Business

NAFDAC, UK negotiate bilateral agreement for Nigerian products

The National Agency for Food and Drug Administration and Control revealed that it is working on a bilateral deal with the UK Government which would enable easier exports of Nigerian processed products registered with NAFDAC. To take full advantage of the opportunity, business owners who intend to enter the processed food export industry are invited […]

Economy

Non-oil exports wil surpass $4.8bn 2023 – NEPC

The Nigerian Export Promotion Council has pledged to make sure that Nigeria surpasses the $4.82 billion it made from non-oil exports in 2022.n The Punch reported that NEPC’s Ekiti State Coordinator, Mrs. Iyabode Abe, stated that the organization “Will continue to support the development of non-oil export in order to defend the nation’s economy” under […]