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 Adedapo Adesanya
Four securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.95 per cent on Friday, erasing N41.17 billion from the bourse, which had its market capitalisation at N2.567 trillion compared with the previous session’s N2.618 trillion.
In the same vein, the NASD Unlisted Security Index (NSI) decreased at the close of business by 85.28 points to 4,277.07 points from 4,362.32 points.
The price decliners were led by 11 Plc, which gave up N20.50 to sell at N200.50 per share compared with the preceding day’s N221.00 per share, FrieslandCampina Wamco Nigeria Plc dropped N16.94 to close at N155.20 per unit versus Thursday’s closing price of N172.14 per unit, Central Securities Clearing System (CSCS) Plc went down by N2.11 to N84.68 per share from N86.79 per share, and Afriland Properties Plc lost 11 Kobo to end at N16.74 per unit, in contrast to the N16.85 per unit it closed a day earlier.
During the trading day, the value of transactions jumped by 172.1 per cent to N29.9 million from the preceding session’s N10.9 million, and the volume of trades soared by 136.5 per cent to 955,096 units from the previous 403,901 units, while the number of deals went down by 11.4 per cent to 31 deals from 35 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 68.6 million units sold for N4.7 billion.
GNI Plc also ended the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, trailed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The last trading session of this week on the floor of the Nigerian Exchange (NGX) Limited ended on a negative note, with a 0.66 per cent loss on Friday.
This was influenced by sustained selling pressure and cautious trading, which forced investors into profit-taking.
Data obtained by Business Post showed that the energy sector fell by 4.66 per cent, the insurance counter dipped by 2.23 per cent, the consumer goods index depreciated by 0.96 per cent, and the banking segment shed 0.28 per cent, while the industrial goods space remained unchanged.
At the close of business, the All-Share Index (ASI) of Nigeria’s stock exchange went down by 1,531.81 points to 232,049.02 points from 233,580.83 points, and the market capitalisation dropped N983 billion to settle at N148.905 trillion compared with Thursday’s N149.888 trillion.
Aradel was the worst-performing equity after it lost 10.00 per cent to close at N1,417.50. International Energy Insurance slipped by 9.95 per cent to N5.79, Trans-Nationwide Express depreciated by 9.89 per cent to N3.28, eTranzact crashed by 9.79 per cent to N14.75, and UPDC slumped by 9.72 per cent to N28.12.
The best-performing equity for the day was Universal Insurance, which gained 6.32 per cent to close at N1.01, McNichols grew by 5.52 per cent to N8.60, Linkage Assurance expanded by 4.67 per cent to N1.57, NGX Group appreciated by 4.35 per cent to N120.00, and Transcorp increased by 3.62 per cent to N41.50.
As look at the activity level indicated that investors traded 388.7 million stocks worth N18.4 billion in 44,631 deals compared with the 393.7 million stocks valued at N19.2 billion executed in 45,813 deals a day earlier, representing a decline in the trading volume, value, and number of deals by 1.27 per cent, 4.17 per cent, and 2.58 per cent, respectively.
By Adedapo Adesanya
The Naira recorded a loss of 82 Kobo or 0.06 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, June 26, exchanging at N1,380.93/$1, in contrast to the previous day’s rate of N1,380.11/$1.
Equally, the domestic currency further weakened against the Pound Sterling in the official FX market yesterday by N6.06 to settle at N1,824.90/£1 versus the preceding session’s N1,818.84/£1, and lost N10.74 on the Euro to sell at N1,577 .58/€1 versus N1,566.84/€1.
At the GTBank forex counter, the Naira depreciated against the greenback during the session by N4 to close at N1,387/$1, in contrast to Thursday’s value of N1,383/$1, and at the parallel market, it was unchanged at N1,395/$1.
Interbank FX activity among financial institutions has fluctuated amid a sharp slowdown in forex market interventions by the Central Bank of Nigeria (CBN), as it allows demand and supply to move the market.
Also, a stronger greenback has generally put significant pressure on emerging-market currencies.
Nigeria has accessed the first tranche of a proposed $5 billion derivatives financing arrangement with First Abu Dhabi Bank PJSC, the largest lender in the United Arab Emirates (UAE).
The $5 billion facility, approved by the National Assembly earlier this year, is part of the federal government’s plan to diversify external financing sources and reduce borrowing costs. Structured as a Total Return Swap with First Abu Dhabi Bank, proceeds are earmarked for refinancing debt and supporting infrastructure financing.
If the proceeds are brought into the country through the official FX market, the transaction will increase the currency reserves or Dollar liquidity.
At the cryptocurrency market, Solana (SOL) grew by 2.2 per cent to $71.92, Cardano (ADA) gained 1.1 per cent to trade at $0.1474, Ripple (XRP) also appreciated by 1.1 per cent to $1.05, Dogecoin (DOGE) expanded by 0.9 per cent to $0.0755, and Ethereum (ETH) improved by 0.4 per cent to $1,578.84.
On the flip side, TRON (TRX) slid 0.6 per cent to $0.3203, Binance Coin (BNB) slumped by 0.3 per cent to $564.33, and Bitcoin fell by 0.2 per cent to $60,219.37, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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