CBN, Trade Ministry Urge Private Sector Input for AfCFTA
Nigeria's CBN and Trade Ministry call for stronger private-sector participation in policy to reduce cross-border trade barriers and accelerate AfCFTA implementation.
Category : Trade
FG releases tax transition guidelines for new regime
The Federal Government has issued guidelines to manage the transition from Nigeria's repealed tax laws to the new tax framework effective January 2026, ensuring clarity on obligations, audits, and incentives.
Nigeria's housing deficit exceeds 20 million units
Nigeria's housing deficit exceeds 20 million units as rising construction costs drive up rents in Abuja and Lagos. Developers urge government intervention to reduce building material prices and expand mortgage financing.
TVS Expands Nigeria Operations via New Distribution Deal
TVS Motor Company partners with Enviable Tricycle to expand distribution in Nigeria, increasing outlets from 17 to 47 and introducing new models to meet rising demand for affordable transport.
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West African Ministers Adopt Industrialisation Policies
ECOWAS trade ministers met in Ghana to adopt policies accelerating industrial productivity, establish a trade facilitation committee, and align with AfCFTA goals.
NIPOST Validates Digital Postcode Model for Nigeria
NIPOST has validated a digital postcode model assigning unique addresses to all buildings in Nigeria, with rollout expected in October to boost security, emergency response, and e-commerce.
RPSN seeks govt help on rental equipment import costs
RPSN president Taiwo Oderinlo urges President Tinubu to reduce importation costs for rental equipment, citing high shipping and clearance fees. The group announces Rental Expo 3.0 with theme 'Legacy, Luxury & Longevity.'
Senate Seeks Total Ban on Textile Imports to Revive Industry
The Senate calls for a total ban on textile imports to revive Nigeria's local industry, create jobs, and boost revenue. Additional funding for BOI is also urged.
Intra-African Trade to Reach $250 Billion in 2026
AfCFTA projects intra-African trade will rise to $250 billion in 2026, a 14% increase from last year. Secretary-General Wamkele Mene urges deeper regional integration amid global uncertainties.
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Senate Seeks Ban on Textile Imports for Industry Revival
The Nigerian Senate calls for a total ban on textile imports to revive the local industry, create jobs, and boost economic growth.
Exporters Seek FG Help Over Local Council Harassment
Exporters at Lagos Island's Irewolede market cry out to the Federal Ministry of Industry, Trade and Investment over alleged harassment and forced shop closure by the local council.
Thousands of Firms Risk Sanctions as E-Invoicing Starts July 1
Over 1,000 firms comply as Nigeria Revenue Service enforces e-invoicing from July 1. Non-compliant businesses face penalties, loss of VAT credits.
Tanzania seeks stronger trade ties with Nigeria at FAB 2026
Tanzania High Commission in Abuja aims to strengthen trade ties at FAB 2026 Exhibition in Lagos, showcasing premium food and beverages to boost economic diplomacy.
Seme Border Stakeholders Seek Vehicle Import Ban Review
Stakeholders at Seme Border call on the Federal Government to review the ban on imported vehicles, citing job losses, revenue decline, and continued smuggling.
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Cargo Inefficiency Costs 40% Revenue, Says Mainstream Cargo MD
Seyi Adewale, MD of Mainstream Cargo, reveals that inefficiency costs Nigeria's cargo industry 30-40% of potential revenue, worse than multiple regulators, citing FX volatility and infrastructure gaps.
Nigeria Among 60 Nations Facing US Trade Sanctions
Nigeria is among 54 economies accused by US authorities of failing to prohibit goods linked to forced labour, potentially facing tariffs up to 27.5%.
Oduwole Seeks Export-Led Growth, Lauds SecureID's Industrial Feat
Minister Jumoke Oduwole emphasizes export-led growth and lauds SecureID's industrial exploit during a tour of its manufacturing plants in Lagos and Nairobi under the AfCFTA framework.
Transport inefficiencies worsening cost of business operations
Dr Segun Musa warns Nigeria's overreliance on road transport drives up logistics costs, urging multimodal systems and private investment to boost competitiveness.
Nigeria Urged to Leverage China Zero-Tariff Policy for Exports
Experts urge Nigeria to move beyond raw exports under China's zero-tariff policy, stressing value addition, quality compliance, and logistics reform to boost trade gains.
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Afreximbank Launches New Tools for AfCFTA Trade
Afreximbank is deploying trade instruments like PAPSS and a transit guarantee scheme to boost AfCFTA implementation, targeting $50 billion in deals at IATF 2027.
Nigeria-UAE Non-Oil Trade Reaches $5bn, Bank Opens in Lagos
Nigeria-UAE non-oil trade rose to $5 billion in 2025, with First Abu Dhabi Bank opening in Lagos and Etihad Airways set to begin Abuja flights, boosting economic ties.
Discounted Freights 75% Cheaper Than Commercial Rates
Minister Oduwole announces discounted air cargo rates 50-75% cheaper on Lagos routes to East and Southern Africa, boosting AfCFTA trade.
Nigeria, RwandAir Partner to Expand Export Routes Under AfCFTA
Nigeria partners with RwandAir to expand AfCFTA air cargo corridor to Kigali, Harare, and Lusaka, reducing export costs to under $2 per kilogram.
Nigeria, RwandAir Partner to Boost Exports Under AfCFTA
Nigeria partners RwandAir to slash cargo rates by over 80% per kg, expanding AfCFTA air corridor to Kigali, Harare, Lusaka from June 2026.
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Abuja Podcaster Regrets Starlink, Details N800k Loss
Abuja-based podcaster KAA laments wasting over N800k on Starlink, citing poor upload speeds. He advises others against buying the device, sparking mixed reactions online.
AfCFTA: Africa’s Most Powerful Lever for Trade and Investment
Minister Jumoke Oduwole reaffirms AfCFTA as Africa's key trade lever, urging implementation beyond declarations to overcome border barriers and boost intra-African commerce.
Updated Visa-Free African Countries for Nigerians
Rwanda joins the updated list of African countries offering visa-free entry to Nigerian passport holders, easing travel for business, tourism, and family visits.
Germany Deepens Development Cooperation with Nigeria
Germany is seeking to deepen economic and development cooperation with Nigeria through stronger business partnerships, vocational training, and private sector investments.
Ghana Declares May 27, 2026 Public Holiday for Eid Al Adha
Ghana has declared Wednesday, May 27, 2026, as a public holiday for Eid Al Adha, closing government offices, courts, schools, and most private businesses.
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Nigeria Grants 30-Day Visa-Free Entry to Rwandans
Nigeria Immigration Service begins 30-day visa waiver for Rwandan citizens, announced by President Tinubu at Africa CEO Forum, promoting intra-African mobility.
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