Okonjo-Iweala Advises Nigeria, Others Against Bilateral Trade Agreements       The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has urged Nigeria to guard against entering into unfavourable bilateral trade agreements with rich countries. She advised Nigeria and other African countries to embrace multilateral trade agreements...

Finally, Nigeria, Benin Republic Enter Agreement To End Rice Importation       The federal government and the Republic of Benin have entered an agreement to end the importation of rice across West African countries. This agreement was announced at the end of a meeting between a delegation from...

Nigeria Recorded N7.37trn Foreign Trade Deficit In 2020 – NBS       Nigeria recorded N7.37tn foreign trade deficit in 2020, latest figures from the National Bureau of Statistics showed on Monday. The NBS disclosed in its ‘Foreign trade statistics report for fourth quarter of 2020’ that the total...

Nigeria’s Petrol Price Stabilises     The price of Nigeria’s Bonny Light hovered at $67.69 per barrel, indicating that the government would not be under pressure to generate funds for its 2021 budget, which was based on $40 and 1.8 million barrels per day, mb/d, including Condensate. However,...

Nigeria Records N13trn Fixed Income, Currencies Deals     Nigerian fixed-income and currencies markets recorded transactions valued at N13.03 trillion in January 2021 with foreign exchange (forex) accounting for N3.26 trillion. A report by FMDQ Group at the weekend showed that total foreign exchange (forex) market turnover in...

In Five Years, Nigeria Recorded N4.9trn Investment Inflows       The Nigeria Investment Promotion Commission (NIPC) has said Nigeria’s annual investment inflows averaged $13 billion (about N4.940 trillion) in the last five years. Speaking at the ongoing Nigeria Finance Online on Wednesday, the Head of NIPC’s Strategic Communications,...