Trade & Investment

Ghana’s year-on-year inflation rate rose to 10.4 per cent in December compared to 9.8 per cent the previous month, the Ghana Statistical Service said on Wednesday. The rate is 0.6 percentage point higher than the rate for November, 2020. The month-on-month inflation between November and December 2020 was 0.9 per …

In a first report on global economic prospects for 2021, issued on January 5, the World Bank forecasted a slow recovery for Nigeria and other sub-Saharan African countries with a growth rate seen at 2.7% for the year. The figure is below the initial June 2020 forecast of 3.1% for …

The Minister of Power, Saleh Mamman, has directed the Nigerian Electricity Regulatory Commission (NERC) to inform all Electricity Distribution Companies(DISCOs) to revert to tariffs that were applicable in Dec. 2020. Aaron Artimas, Senior Special Adviser, Media and Communications to the Minister of Power, made this known in a statement in …

President Muhammadu Buhari said about seven states are producing all the rice Nigerians need for consumption, promising that his administration will keep a keen eye on food inflation in the New Year. Buhari, who has given a strong directive to the Central Bank of Nigeria, CBN, not to give any …

The EU and UK have reached a post-Brexit trade deal, ending months of disagreements over fishing rights and future business rules. At a Downing Street press conference, Boris Johnson said: “We have taken back control of our laws and our destiny.” The text of the agreement has yet to be …

President Muhammadu Buhari, on Wednesday, ordered the immediate reopening of four land borders. The Presidency made this known in a tweet today. “President Buhari has directed the immediate opening of four land borders: Seme, Illela, Maigatari, and Mfun,” @NGRPresident tweeted. Nigeria had in August 2019 closed its land borders to …

While the South African economic data announced an unexpected growth of the gross domestic product during the third quarter of 2020, the main stock market index of the local financial market experienced its first decline in 6 sessions, we noted. The FTSE South Africa, which includes all companies listed on …

Nigeria’s trade deficit rose by 32.45 per cent from N1.8tn as of the end of second quarter to N2.38tn in the third quarter. The National Bureau of Statistics disclosed this in its Q3 Foreign Trade Statistics report, which was released on Monday. It also said the total trade in the …

Nigeria has joined the list of countries to formally ratify the African Continental Free Trade Area (AfCFTA) agreement, 26 days to the commencement of trading, Francis Anatogu, Secretary of the National Action Committee on the AfCFTA said on Saturday. “The Federal Republic of Nigeria today 5th December 2020, submitted the …

The House of Representatives has resolved to invite the Ministers of Justice, Abubakar Malami, Foreign Affairs, Geoffrey Onyeama as well as Industry, Trade and Investment, Otunba Adeniyi Adebayo to brief the House on the implications of the agreement establishing the African Continental Free Trade Area (AFCFTA). This was sequel to a …