NAICOM, Transportation Ministry Synergise to Insure Transport Owners and Users The National Insurance Commission, NAICOM and the Federal Ministry of Transportation is to collaborate to ensure provision of adequate insurance for road transport owners and users within Nigeria and ECOWAS member countries. To this end, the...

Trade Deficit Increases To $2.51bn After Border Reopening         Nigeria’s exports declined while imports increased in January despite the opening of the land borders. Nigeria’s trade deficit rose from $1.69bn in December 2020 to $2.51bn as of the end of January 2021 despite the reopening of the...

Rice, Flour, Sugar, Cement Top Free Trade Exemption List       Despite Nigeria’s comparative advantage and self-sufficiency status in the production of certain products, cement, flour, rice, sugar and 180 other products would not be liberalised under the African Continental Free Trade Area (AfCFTA), even though doing...

Fed Govt Moves For Full Implementation Of ECOWAS Brown Card         The Federal Government has moved for the full implementation of the ECOWAS Brown Card Insurance Scheme to guarantee prompt compensation to victims of road accident within the ECOWAS member states. The Minister of Finance, Budget and...

Minister Asks Nigerians To Explore $3.4trn AfCFTA Economy       The Federal Government on Wednesday called on Nigerians, particularly industrialists, to take advantage of the inherent opportunities in the $3.4tn economy of African Continental Free Trade Agreement to promote made-in-Nigeria goods. Minister of Industry, Trade and Investment, Adeniyi...

‘Imported Vehicle Prices To Increase Next Year’         The prices of vehicles imported into Nigeria will increase significantly from next year once the Fuel Grade and Vehicle Emission Standards Regulations of the Economic Community of West African States is implemented, the Association of Motor Dealers of...