Economy
AfCFTA: Nigeria Launches Trade Intelligence Tool, Air Cargo Corridor
By Adedapo Adesanya
Nigeria has launched a cutting-edge Market Intelligence Tool and a dedicated East/Southern Africa Air Cargo Corridor, in partnership with the United Nations Development Programme (UNDP) and Uganda Airlines as part of efforts to cement its leadership in African trade under the $3.4 trillion African Continental Free Trade Area (AfCFTA).
The twin initiatives, unveiled at the Bank of Industry (BoI) headquarters in Abuja by the Federal Ministry of Industry, Trade and Investment, are designed to drastically cut logistics costs and empower Nigerian exporters, particularly women-led micro, small, and medium enterprises, MSMEs, with real-time trade data across 13 African markets.
The Nigeria-East/Southern Africa Market Intelligence Tool provides granular data on tariffs, trade flows, product demand, regulatory requirements, and buyer profiles, enabling Nigerian exporters to target high-growth sectors such as agribusiness, cosmetics, and textiles with surgical precision.
Speaking, Mr Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, said “With this launch, Nigeria is moving from ambition to execution. The success of this initiative will not be measured by applause, but by increased exports, expanded businesses, and transformed lives.
“This tool empowers Nigerian businesses to trade smarter. Exporters can now make data-driven decisions that reduce risk and increase profit. And with a fast, affordable air cargo route in place, we’re removing the physical barriers to market entry.” Oduwole said.
The cargo corridor, established in collaboration with Uganda Airlines and UND, offers exporters up to 75 per cent savings in freight costs, along with guaranteed delivery timelines to key logistics hubs in Nairobi, Entebbe, and Johannesburg.
Scheduled flights and dedicated cargo support will allow Nigerian goods to reach regional markets faster and more reliably than ever.
“This is not just a flight path, it’s a fast lane for Nigerian enterprise,” said Mr. Patrick Ziwa, Cargo Manager for Uganda Airlines, adding that the corridor was created “to meet the rising demand for seamless intra-African trade.”
The launch comes as Nigeria intensifies efforts to operationalise its AfCFTA strategy, following a five-year review by the AfCFTA National Coordination Office, which called for more coherence in trade facilitation, productive capacity, and policy reforms.
“Nigeria is ready to lead Africa’s trade renaissance. By linking data with delivery, this initiative transforms raw trade statistics into real economic opportunities,” said Mr Nura Abba Rimi, Permanent Secretary, Ministry of Industry, Trade and Investment,
Also, Mrs Ify Ogo, UNDP Trade Expert, described the intelligence platform as a critical tool to expand Nigeria’s services trade schedule under AfCFTA. “This is about connecting ambition with infrastructure, both digital and physical.”
Women-led MSMEs, long marginalised in trade policy, stand to benefit significantly as Mrs Weyinmi Eribo, representing the West and Central African Women in Mining and Manufacturing Association, WCCIMMA, said the tool will give “visibility, dignity, and profitability” to female entrepreneurs.
“This marks a turning point for African women in trade. We now have access, insights, and logistics, all in one ecosystem,” Mrs Eribo said.
For her part, Mrs Nonye Ayeni, Executive Director of the Nigerian Export Promotion Council (NEPC), highlighted that Nigeria’s non-oil exports are on the rise and will be further accelerated by these interventions.
“From potential to performance, that is the story we’re writing,” she said.
UNDP Nigeria Resident Representative Ms Elsie Attafuah, called the market tool a “game-changer,” adding that the combination of digital intelligence and logistics coordination represents a new model for inclusive, sustainable growth.
“Nigeria is demonstrating what AfCFTA-ready looks like: data-driven, gender-conscious, and logistics-empowered,” Ms Attafuah said.
By Modupe Gbadeyanka
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn