Trade & Investment

The President of African Development Bank (AfDB),Dr Akinwumi Adesina has called on the International Monetary Fund((IMF) to grant permission to Multilateral Development Banks(MDBs) to use its Special Drawing Rights to meet the financing deficit of vulnerable jurisdictions. Speaking on a panel at the Summit for a New Global Financing Pact, …

The World Bank has advised Nigerian policymakers to move away from relying solely on national averages when formulating social protection measures following fuel subsidy removal in the country. In its June 2023 report titled “Detox Development: Repurposing Environmentally Harmful Subsidies,” the World Bank noted that it is crucial to also …

Vice President Kashim Shettima has met with British High Commissioner to Nigeria, Richard Montgomery at the State House, Abuja. Vice President Kashim Shettima has met with British High Commissioner to Nigeria, Richard Montgomery at the State House, Abuja. Montgomery said British ministers are “responding positively” to the policies of the …

The Federal government is tackling the rejection of Nigeria’s export products in some parts of the global economic system as an emergency with stringent measures to mitigate the anomaly. This was disclosed recently by Mr. Osita Aboloma, Chairman, National Quality Council under the Presidency in Abuja, through a press release …

African Development Bank Group president Akinwumi Adesina called for new ways of preparing and de-risking projects to mobilise private sector investment for sustainable development. “We need new ways of aggregation to prepare the projects, to de-risk the projects and lower the transaction cost for those deploying capital,” he said. Adesina …

Africa’s richest man,Aliko Dangote has encouraged African countries to be deliberate in liberalising integration and allow for easy entry and exit of Africans. The Dangote Group CEO, who spoke on Sunday at the 30th Afreximbank Annual Meetings held in Accra, Ghana, stated that if the continent was committed to boosting …

The African Export-Import Bank (Afreximbank) launched its insurance management services subsidiary, AfrexInsure, with a commitment to provide a single-entry point for all specialty insurance needs to assist in optimally managing related risks for the trade and commerce sector in Africa.Established in 2021, AfrexInsure is set up to offer specialty insurance …

Dr Ngozi Okonjo Iweala DG WTO receives the instrument of ratification for the WTO Fisheries Subsidies Agreement from Amb.Adamu Mohammed Abdulhamid Nigeria has ratified the World Trade Organisation (WTO) Fisheries Subsidies Agreement and deposited the instrument the Director General at the Secretariat. This was disclosed in a statement by Ambassador …

Nigeria’s Ambassador to World Trade Organization, Ambassador(Dr.)Adamu Mohammed has thanked members of Goods Council for their collaboration and flexibility in reaching consensus on the 2023 chairs of the subsidiary bodies of the council. Ambassador Adamu is the chair of the Goods Council. It will be recalled that World Trade Organization …

Ferrari (RACE.MI) has no plans to purchase other sports car makers, the company’s Chief Executive Benedetto Vigna said on Monday. “I don’t think it makes sense for us to buy other supercar makers,” Vigna said during a conference organized by Bloomberg, replying to a question about possible M&A operations by …