Business Tips

Institute calls for collaboration on ease of doing business

The Institute of Chartered Secretaries and Administrators (ICSAN) on Friday called on governments, regulatory agencies, public and private sector, and the citizenry to collaborate in promoting the ease of doing business.

The President of the ICSAN, Mr Bode Ayeku, who made the call at a news conference in Lagos, said that promoting the ease of doing business was essential to ensuring economic growth.

Afreximbank pledges to support Nigerian manufacturers with $500m

The African Export-Import Bank (Afreximbank) says it will allocate 500 million dollars from its Nigeria-Africa Trade and Investment Promotion Fund to support Nigerian manufacturers.

The Afreximbank President, Benedict Oramah made this known at the 47th Annual General Meeting of the Manufacturers Association of Nigeria (MAN).

Oramah said that the facility would enable manufacturers to take advantage of the opportunities offered by the African Continental Free Trade Area (AFCFTA) agreement.

Global economic outlook darkens amid escalating trade dispute –Report

The IFO Institute for Economic Research in Germany says the economic outlook has deteriorated worldwide due to the escalating trade dispute between the United States and China.

This is according to the economic institute’s quarterly survey among nearly 1,200 experts in more than 110 countries which showed that measures for current conditions and economic expectations have both worsened in the third quarter.

Nigeria intensifies partnership with Kenya on maritime security

Nigeria and the Republic of Kenya have reiterated the need to intensify its partnership on maritime security for effectiveness and efficiency.

The Kenyan High Commissioner to Nigeria, Dr. Wilfred Machage, said it was important for the two countries to deepen its symbiotic relationship through collective efforts of the maritime agencies, the Voice of Nigeria reports.

Chamber of Commerce urges government to stabilise food prices

The Lagos Chamber of Commerce and Industry (LCCI) yesterday urged Federal Government to show more commitment to measures aimed at stabilizing food prices through improved food production, post-harvest management and transportation.

Mr Babatunde Ruwase, LCCI President, made the plea at the 2nd edition of the chamber’s quarterly state of the economy media briefing in Lagos, South-West Nigeria.

Ruwase said the plea was to reduce the inflation rate as reported for the month of May largely caused by volatility of food prices, Voice of Nigeria reports.

Nigeria, Africa’s total merchandise trade stands at $997.9b

Nigeria and the rest of Africa’s total merchandise trade in 2018 have been estimated to be 997.9 billion dollars, retaining its number one position as the fastest growing regions in the world.

Dr Hippolyte Fofack, Afreximbank’s Chief Economist said this was contained in the African Trade Report 2019 inaugurated on the side line of the on-going Afreximbank Annual Meeting (AAM2019) in Moscow.

The World Trade Organisation estimates reviewed that the volume of global merchandise trade grew by three per cent in 2018, down from 4.6 per cent in 2017.

Airfreight stakeholders urge government towards export, import trade boost

The Airfreight Stakeholders Forum (ASF) has urged the federal government to make export and import trade an alternative source of income for the nation in line with economic diversification.

Mr Toyin Olufade, National Chairman of ASF, said this in an interview in Abuja.

“The nation is so reliant on petroleum, 90 per cent of the nation’s income comes from there, and therefore we need to develop an alternative source of income for the nation.

Nigeria-Russian Economic Relationship: Chamber of Commerce adopts New Strategies

The Abuja Chamber of Commerce and Industry (ACCI) on Monday unveiled new strategies and innovative ways to deepen Nigeria-Russian economic relationship.

The ACCI President, Adetokunbo Kayode, said this in Abuja at the Nigeria-Russian Business Forum.

He said the 2-day forum would be used to revive the old economic ties that had existed between the two countries.

Invest in Human Capital, UK Agency tells Nigeria

The UK Department for International Development (DFID) has advised Nigeria government to invest in its human capital, if it must attain it greatness.

Debbie Palmer, Head of DFID Nigeria, gave the advice in her remark at the opening ceremony of an induction of new and returning governors, organised by the NGF Secretariat on Monday in Abuja, the News Agency of Nigeria reports.

Palmer said that the Nigeria population had always being a hug asset and path to its greatness.

AfDB attracts $38.7b investment to Africa

The President of Africa Development Bank (AfDB), Dr. Akinwunmi Adesina, has revealed that the African Investment Forum facilitated by the bank in 2018 succeeded in mobilizing $38.7 billion of investments for African.

Adesina reported that of the amount, about $7.1 billion would be invested in Nigeria.

After a meeting with President Muhammadu Buhari on Tuesday, he told journalists that the bank was in the period of general capital increase to put Africa in different perspective.