The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, said Nigeria needs to continue diversifying to attract investment and boost trade surplus. Okonjo-Iweala stated this while addressing newsmen after a meeting with the Duchess of Sussex, Meghan Markle and other women at the Nigerian Women in Leadership event in Abuja weekend. Nigeria recorded N1.41 trillion trade deficit between …

The Federal Government of Nigeria and the Kingdom of Saudi Arabia have agreed to strengthen bilateral relations to explore the huge potentials in Nigeria, particularly in the areas of agriculture, trade and economic opportunities. The two countries made the commitment yesterday at a meeting between a delegation from the Kingdom of Saudi Arabia led by its minister of environment, water …

The Africa Continental Free Trade Area (AfCFTA) has said that internal trading will earn Africa more than $70 billion in development assistance. The Chief of Staff of the AfCFTA Secretariat, Silver Ojakol, made the assertion at the 2023 Regional Integration Issues Forum (RIIF) which was held in Accra, Ghana. The RIIF is a sensitisation mechanism and an interface platform for …

Nigeria recorded a N1.3 trillion trade surplus in the second quarter of 2023 (Q2’23), representing a 38 per cent rise when compared to N927.15 billion in Q1’23. However, Year-on-Year (YoY), the trade position was a 7.6 per cent decline from the figures in the corresponding period of 2022. This comes against the backdrop of increases recorded in total imports and …