Nigeria's First AfCFTA Consignment Arrives Kenyan Port The first shipment from Nigeria under the African Continental Free Trade Area (AfCFTA) has successfully arrived at the Mombasa Port in Kenya. This announcement was contained in a press release signed by Olusegun Olutayo, Senior Trade Expert at the...

Stakeholders Laud Nigeria’s First Export to Kenya Under AfCFTA Nigeria AfCFTA Coordination Office has celebrated the first export of goods to Kenya under the African Continental Free Trade Area Agreement (AfCFTA), describing it as a milestone. Shipment of goods from Nigeria’s company Lucky Fibres, a subsidiary...

Kenya Govt Makes U-turn, Reinstates Small Fuel Subsidy Kenya has reinstated a small subsidy to stabilise retail fuel prices for the next 30 days, the energy regulator said late on Monday, in a reversal of government policy following public anger over the high cost of...

Despite COVID-19, Africa Records $80bn Diaspora Remittances       Diaspora remittances to Africa as a whole have increased to over $80 billion despite the COVID-19 impact on economies worldwide, and against the backdrop of a fall in remittances worldwide. However, remittances to Nigeria dropped by 27.7 percent in...

W/Bank Upgrades Nigeria’s Economic Growth Forecast To 1.8%       The World Bank yesterday upgraded its economic growth forecast for Nigeria in 2021 to 1.8 per cent, citing higher oil prices, structural oil sector reforms, and market-based flexible exchange rate management. This represents a 0.7 percentage point increase...

Nigeria Among Top Three Countries With Electricity Deficits – W/Bank         The World Bank has listed Nigeria among the three countries with the largest electricity deficits in the world. It said during the last decade, a greater share of the global population gained access to electricity than...