Showing posts with label Trade. Show all posts
Showing posts with label Trade. Show all posts

Tuesday, November 10, 2020

Nigeria Exempts Dangote Cement From Land Border Closure

Nigeria has allowed Dangote Cement to resume exports across its land borders, raising hopes that Africa’s most-populous nation may be opening up trade with neighbors after a year-long blockade.

President Muhammadu Buhari’s administration gave permission for Africa’s biggest cement producer to export to Niger and Togo in the third quarter for the first time in ten months, Michel Puchercos, chief executive officer, said on an investor call Monday.

The exemption to Dangote Cement is seen as a softening of the government’s position on a border closure that started in August last year, and could open the way for other businesses to fully resume exports across the country’s land barriers.

BUA Group and a gas company have received presidential approval to move goods across the land borders, Joseph Attah, the spokesperson for Nigerian Customs, said by phone from Lagos, without providing details.

Nigerian authorities closed borders with neighboring countries including Benin and Niger to curb smuggling and boost local production. Although the blockade encouraged the consumption of locally grown produce such as rice, it hurt factories across west Africa, which rely on Nigeria’s market of 200 million people.

Dangote Cement resumed land exports with “restricted volumes,” and plans to grow the trade using the sea channels, according to Puchercos. A total of 69 tons were exported through land borders in the period, less than 1% of the 11,741 tons of cement sales in the nine month through September.

Dangote Cement shares were unchanged at 185 naira per share by 11:21 a.m. on Tuesday in Lagos, the commercial capital.

The Lagos-based company’s plan to buy back some of its shares has been delayed by market volatility and low liquidity, which have affected valuation, Guillaume Moyen, acting chief financial officer, said at the same conference call. 

By Emele Onu and Tope Alake

Bloomberg 

Related story: Video - Aljazeera speaks with Africa's richest man Aliko Dangote 

Africa's richest man Aliko Dangote is building the world's largest refinery in Nigeria

Monday, August 17, 2020

Nigeria receives largest container vessel in history

The reforms in the nation’s port system is yielding results as the Nigerian Ports Authority (NPA) successfully berth the biggest container vessel to ever call at any Nigerian port.

The Maerskline Stardelhorn vessel with length overall of 300 metres, width of 48 metres was received at the Federal Ocean Terminal (FOT), Onne in Rivers State at 1620 hours on Saturday, August 15, 2020.

General Manager, Corporate and Strategic Communications, NPA, Jatto Adams, said the vessel, which has a capacity of 9,971(TEUs) is a flagship from Singapore.

The vessel, which was brought in from Fairway Bouy Bonny with the aid of three tugboats operated by three of NPA pilots was received by the Ports Manager of Onne Ports, Alhasssan Abubakar.

Adams said NPA is delighted to state that the landmark arrival of the biggest gearless Maerskline vessel at the Onne Ports is a result of management’s determination to improve the patronage of the Eastern Ports.

“It is an indication of the fact that the Eastern Ports are equipped to receive all manner of vessels and an expansion of the options of consignees in the Eastern and northern parts of the country,” he said.

Adams said the management of NPA congratulates its team at the Onne Ports and appreciates all stakeholders at the port for their cooperation towards seeing that the vessel berthed safely without any challenge.

He however assured of the authority’s commitment to ensuring that all ports locations in Nigeria work at their optimal capacity and the repositioning of Nigerian ports as the hub in the sub-region.

By Sulaimon Salau

The Guardian

Wednesday, July 22, 2020

Nigeria Targets Processed Cocoa Exports With $10 Million Plant

Nigeria’s southeastern Cross River state is setting up a 4-billion naira ($10-million) cocoa-processing plant to start operations in August and target the export market, an official said.

Cross River, which accounts for about 30% of Nigeria’s output, has negotiated with chocolate companies based in Italy to receive supplies from the grinder, Peter Egba, the commissioner for industry, said in a phone interview from Calabar, the state capital.

The factory will receive raw material from local growers as well as farmers in neighboring Cameroon, across the nearby border, Egba said. The government also plans to distribute 10 million seedlings of a cocoa variety that matures in three years to farmers to increase output.

Nigeria is the world’s fifth-biggest producer of the chocolate ingredient, with the Cocoa Association of Nigeria expecting the 2020 main harvest between October and December to yield 148,750 tons. There’s a smaller harvest between April and June. The investment comes at a time Nigeria is seeking to diversify its economy away from oil by boosting agricultural production and processing.

By Emele Onu

Bloomberg

Tuesday, September 24, 2019

Video - Nigeria bans foreign milk to support local farmers



In Nigeria, the government has banned the sale of foreign milk to support struggling local farmers. But the move could backfire, with concerns it will lead to dairy shortages and price increases.

Thursday, September 19, 2019

Nigeria becomes staging ground for illegal pangolin trade

In a rubble-strewn storage lot in the sprawling Nigerian port city of Lagos, customs agents crack open a shipping container crammed with scales from pangolins, a shy mammal prized in Asia for its use in medicines.

The scales being stored with elephant tusks in the fetid container are part of a growing haul of pangolin cargos seized in Nigeria, a country that is now the main hub for gangs sending African pangolins to Asia, according to law enforcement officials, non-governmental organisations and wildlife experts.

They say porous borders, lax law enforcement, corruption and one of the continent’s biggest ports have helped criminal networks in Nigeria corner most of the African trade in pangolins, considered to be the world’s most trafficked mammal.

Ranging in size from a small rabbit to a large dog depending on the species, pangolins are the only mammals with scales. The nocturnal tree-climbers that feed on ants and termites are more closely related to bears than the anteaters they resemble.

This year alone, Hong Kong and Singapore have intercepted three huge shipments of pangolin scales weighing a combined 33.9 tonnes and worth more than $100 million, based on estimates of their value in Singapore.

Each shipment was bigger than any that had come from Africa before this year - and they all came from Nigeria.

According to wildlife trade watchdog TRAFFIC, less than a quarter of major pangolin seizures from Africa came via Nigeria in 2016. By 2018, that had jumped to almost two-thirds and three-quarters of the total weight seized was linked to Nigeria.

“Traffickers like Nigeria more than anywhere else ... they prefer to go there because it makes it easier for them to export,” said Eric Kaba Tah, deputy director of wildlife law enforcement group The Last Great Ape Organization in Cameroon.

“The situation for pangolins is becoming more and more serious and even more dangerous,” said Tah, who has helped crack down on the trade in Cameroon, one of the other main pangolin trafficking routes to Asia.

Other African countries known for pangolin trafficking such as Kenya, South Africa, Tanzania and Uganda all say they have clamped down on the illicit trade as well - pushing pangolin traffickers towards Nigeria instead.

‘TOO MANY FRONTS’

Pangolin meat is considered a delicacy in some Asian markets and the pangolin’s hard keratin scales - the stuff of human fingernails and rhino horns - are dried, ground into powder, and used in medicines in China to treat ailments such as poor lactation, sores and rheumatism.

Demand for African pangolins in countries such as China and Vietnam has been growing as the number of Asian pangolins has dwindled over the years, to the point where two of the four Asian species are now on the critically endangered list.

The other two are endangered and all four African species of pangolin were classed as vulnerable by the International Union for Conservation of Nature when all commercial trade in pangolins, also known as scaly anteaters, was banned in 2016.

“At the rate at which pangolins are being traded and poached, it could take two decades for the mammal to be extinct,” said Ray Jansen, chairman of the African Pangolin Working Group in Pretoria.

Nigerian customs officials disagree with the idea their country has become a pangolin trading hub. Assistant Comptroller Mutalib Sule argues that pangolin trafficking through the West African country is on the decline.

“There is tight effort at the borders to ensure that such things do not come in again,” he said, adding that no country had been able to stamp out smuggling altogether.

According to customs officials in Nigeria, agents seized 927 kg of pangolin goods in 2016, 402 kg in 2017, and then seizures rocketed to 12.3 tonnes in 2018.

“Sometimes Nigeria is just a point of convergence,” said Sule.

Oliver Stolpe, the United Nations Office on Drugs and Crime (UNODC) representative for Nigeria, said the problem was that pangolin trafficking was just one in a long list of criminal activities facing the authorities in the West African country.

“Nigeria is fighting crime on so many fronts,” Stolpe said. “It’s simply too many fronts.”

TIP OF THE ICEBERG

Experts say it’s hard to draw definitive conclusions from data about seizures. A surge in interceptions could just mean law enforcement agencies were doing their job better, rather than there being a major increase in trafficking.

But TRAFFIC’s Sone Nnoke said the sheer number of seizures of pangolin products that have come via Nigeria points to the country now being the main hub for the illegal trade.

“Because of porous borders it’s very easy to take those products to Nigeria,” said Nnoke.

Jansen at the African Pangolin Working Group said seizures very likely only represent about 10% of the actual trade in pangolin scales so the surge in intercepted cargos from Africa was a worrying trend.

According to TRAFFIC, which tracks seizures of more than half a tonne, 67.6 tonnes of pangolin scales from Africa have been seized throughout the world this year, already almost double the amount in 2018.

The Tikki Hywood Foundation, which rescues pangolins in Zimbabwe and Cameroon, estimates 1,666 of smaller white-bellied pangolins need to be killed for one tonne of scales. When it comes to the giant pangolin, that drops to 277 animals.

So the 67.6 tonnes of scales from Africa seized this year and tracked by TRAFFIC would have needed anywhere from 18,725 to 112,620 pangolins to be killed, depending on the species.

‘HUGE AMOUNTS’

The economic motivation for smugglers is strong. In Nigeria, a whole pangolin can sell for as little as $7. But once in China or Vietnam, the scales from one animal alone can fetch $250, according to UNODC.

Yet Nigeria is not just a staging ground where pangolin parts from around Africa are amassed before being shipped to Asia. The country has its own population of the furtive creatures, living mainly in the thick forests of the southwest.

Here, generations of families have hunted, traded and made medicine from “akika”, the Yoruba name for pangolins.

Many of the traders, particularly those dealing in animals hunted in the surrounding forests, said foreigners they believed to be Chinese were buying pangolins or their parts in ever greater quantities.

“They pay huge amounts of money,” said Agbetuya Babatope Samuel, a traditional healer and trader in the town of Akure in Ondo state. “When I get their money I laugh to the bank,” he said. “I wish it would continue for a long time.”

The high demand is taking its toll.

When the sun has set, Sule Ayinla stalks the dark, thick forests of Ondo Akoko in southwest Nigeria for pangolins, a torch fixed to his head. Hearing a rustle, he fires his long-barrelled gun at a tree, to no avail.

“We used to hunt pangolin here,” Ayinla said, lowering his weapon. Taught to hunt by his father, he said the trade was getting tougher and it was becoming rare to find pangolins hiding in the trees where they typically find cover.

“There used to be lots of animals in this forest but they are scarce now.”

By Paul Carsten

Reuters

Monday, May 6, 2019

Video - Calling on Nigerian government to help boost ceramics trade



For centuries, women in Nigeria have led the way in the local production of ceramics. But now the ancient craft is almost becoming extinct as it struggles to adapt to the modern world. Experts are calling on the government to help boost trade and earnings in the ceramics industry as well as preserve the traditional culture.

Wednesday, November 21, 2018

Video - Nigerian businessmen on benefits from Chinese Expo



African nations continue to reap benefits following the conclusion of the first China International Import Expo. Many products and services from Africa made their debut in the Chinese market. These have attracted a lot of attention. Exhibitors from Nigeria say the Expo opened a channel for African companies and products looking to enter the Chinese market.

Wednesday, October 24, 2018

Video - Nigeria imports Norwegian seafood worth $125 million yearly



Let's head to Nigeria now, where the country shares a rather fishy relationship with Norway... Despite having its own coastline, the West African nation imports around 125 million dollars' worth of Norwegian seafood every year.

Tuesday, September 4, 2018

Video - Nigeria's move to ease business



Francis Okolie had been operating his interior decoration firm without any formal registration for two years. He says the business was struggling until he decided to make the company official.

Monday, September 3, 2018

Video - Nigeria looking to broaden its relations with China



Nigeria is looking to broaden its relations with China to rip maximum benefits.

Wednesday, August 29, 2018

Video - UK PM Theresa May discusses trade, security with President Buhari



UK Prime Minister Theresa May continues her tour of Africa. She's in Nigeria at the moment on the second stop of a three-country visit. The prime minister landed in Abuja earlier on Wednesday. She and President Muhammadu Buhari ave been discussing trade, security, and human trafficking. May is on what some are calling a charm offensive to seek more investment partners for the UK after it breaks away from the European Union. May is also meeting with victims of modern slavery in Nigeria's commercial capital, Lagos, before she heads to Nairobi on Thursday for talks with President Uhuru Kenyatta.

British Prime Minister Theresa May visits Nigeria

Theresa May is visiting Nigeria on the second day of her trade mission to boost ties with Africa after Brexit.

Mrs May will discuss security, trade and people trafficking with President Muhammadu Buhari before meeting victims of modern slavery in Lagos.

The prime minister already announced £4bn of extra British support for African economies during the first leg of her trip on Tuesday.

She also insisted her "sensible" Brexit plans will deliver a "good" deal.

Mrs May is travelling to Abuja, the capital of Nigeria - Britain's second largest trading partner in Africa - for talks with President Buhari.

She is expected to announce a new UK and French project to help Nigeria and Niger strengthen their borders to crack down on trafficking.

The prime minister will also pledge to support victims of modern slavery who have suffered "enormous trauma".

Speaking ahead of her visit, she said the UK was a "world leader" in trying to end modern slavery.

Labour's Shadow Home Secretary Diane Abbott said Mrs May's "warm words" rang hollow as her government had cut Border Force staff and police officers, who were "the frontline in the fight against modern slavery".

Mrs May's three-day trip to Africa is aimed at deepen economic and trade ties with growing African economies ahead of Britain leaving the EU in 2019.

Arriving in South Africa on Tuesday, Mrs May - who is accompanied by a team of business delegates - said she wanted the UK to overtake the US to become the G7's biggest investor in Africa by 2022.

She struck Britain's first post-Brexit trade pact with Mozambique and the Southern African Customs Union, made up of six African nations. The EU currently has an economic partnership with this union, and the UK will now continue working with it after Brexit.

And Mrs May also pledged a "fundamental shift" in aid spending to focus on long-term economic and security challenges rather than short-term poverty reduction.

On Thursday, she will finish her tour in Kenya, where she will hold talks with President Uhuru Kenyatta and attend a state dinner, visit a business school and meet British troops.

While in South Africa, the prime minster also faced questions from journalists on Brexit.

She told the BBC's Ben Wright that the UK is "still operating to the timetable" as it is originally set out in the Brexit negotiations.

It comes after the EU's chief negotiator Michel Barnier indicated last week that a deal may be pushed back to early November.

She played down warnings from Chancellor Philip Hammond - who said last week that a no-deal Brexit could damage the economy.

She said the comments were based on analysis first released in January that were, at the time, a "work in progress".

Mrs May then cited comments by the head of the World Trade Organisation, who said Brexit "won't be a walk in the park, but won't be end of the world either".

"We are working for a good deal, we have put forward our proposal for a good deal," she said. "I believe that deal is to the benefit, not only of the UK, but the EU.

"What the government is doing is putting in place the preparations to make sure we can make a success whatever our future relationship is with the EU and whatever the outcome of the negotiations."

Talking to journalists on board RAF Voyager on Tuesday morning, Mrs May reiterated that she believed a no-deal Brexit was still better than a bad deal.

Thursday, July 19, 2018

Video - Nigeria makes progress towards reaching consensus on CFTA deal



Nigeria is moving closer to signing the pan-African free-trade deal. 44 other countries have already signed on. The agreement scraps barriers to intra-African trade. President Muhammadu Buhari says he's made significant progress in reaching consensus to sign the deal.

Wednesday, July 18, 2018

Video - Nigeria close to signing Continental Free Trade Agreement



Africa's largest economy Nigeria is inching closer to signing the pan Africa free trade deal, almost five months after 44 other African countries signed it. President Muhamadu Buhari has made significant progress in reaching a consensus to sign the deal that would see member states drop non tariff barriers to intra Africa trade.

Tuesday, June 5, 2018

Video - New excise duties on alcohol and tobacco to kick in in Nigeria



Nigeria's new excise duty for alcoholic beverages and tobacco approved by President Muhammadu Buhari is taking effect from Monday, the 4th of June. Finance Minister Kemi Adeosun says the upward review of the taxes on alcohol and cigarettes is to raise the government's fiscal revenues.

Friday, December 22, 2017

Video - Record low sales for traders in Nigeria in run-up to Christmas



As Christmas approaches, many families in Nigeria are struggling to celebrate the holidays, with the country just emerging from a recession this year and majority of civil servants facing continued salary delays. Traders in the capital city say business is slow and that they are expecting subdued festive shopping this year. Here's Alexandria Majalla with more details.

Tuesday, October 10, 2017

Video - Operations at Nigeria's main sea port almost grounded to a halt



For over two months now operations at Nigeria's main sea port in Lagos have almost grounded to a halt. The roads leading to the port are in bad shape and reconstruction work has been slow. Lines of trucks and tankers trying to access the port now stretch back to over 10 kilometers, making it virtually impossible to drive around the port area. The situation is now taking a serious toll on exporters of agriculture products.

Thursday, July 6, 2017

Video - Nigeria's maize prices shoot up by 60% in the last year



The price of maize in Nigeria has gone up by nearly 60 percent in the last year. Coupled with already high inflation, experts warn of a food security threat in Africa's most populous country.

Thursday, June 29, 2017

Nigeria to supply Walmart $7 billion worth of cashew nuts

Nigeria is set to supply 130,000 tonnes of roasted cashew nuts valued at $7 billion to Walmart Super Market chain in the United States of America, USA.

This was revealed by the Minister of Agriculture, Audu Ogbe, on Wednesday while briefing State House correspondents after the meeting of the Federal Executive Council at the State House Presidential Villa Abuja.

“But the other good news is cashew nuts. These things look small, but we are in conversations with Walmart, the biggest supermarket chain in the U.S., they came here and asked us to roast cashew nuts for them

“Their demand is a 130,000 tonnes of cashew nuts per annum, the total value is $7 billion,” he said.

Mr. Ogbe said what Nigeria currently does is ship the nuts to Vietnam, who in turn roast and sell to the U.S.

“This year we are going to create six cashew processing factories in Nigeria, one each to be cited in Enugu, Imo, Benue, Kogi, Kwara and Oyo states. These are the cashew belt for now,” he said.

The minister said these options are coming now because Nigeria is beginning to focus on non-oil export.

“Once you can diversify your economy, if something goes wrong in one sector you can hang on to the other,” he said.

Mr. Ogbe had earlier said Nigeria will formally flag off the export of yam to the UK on Thursday.

He said the government is also looking to use yam for industrial starch for the textile industry and for export to China.

He added that India is also asking Nigeria for the supply of beans. He said the beans market in India alone is about $100 billion.

“When the Indian Vice President came here, he asked me to visit so we could talk, so the market in Agric is huge, the prospects are large; it’s about improving on our strategies at home and getting all our states to get involved, not all of them are doing what they ought to be doing now,” the minister said.

Thursday, February 16, 2017

Nigeria spends $2bn annually in rice importation

Alhaji Aliko Dangote, President of Dangote Groups of Companies, says Nigerians consume over 6.5 million tonnes of rice annually, less than half of which is produced locally. Dangote stated this on Wednesday during the inauguration of the Dangote Rice Out growers Scheme in Goronyo Local Government Area of Sokoto state.

He expressed concern that the deficit arising from importation of rice cost Nigeria over $2billion per annum.

He said : ”As agriculture remains an important sector in our economy, we plan to produce 1million tonnes of high quality parboiled rice within the next three years. “This is by cultivating about 160,000 hectres of irrigable rice farmland in some selected states, thus making the commodity affordable to ordinary Nigerians. 

“Moreover, the outgrowers scheme is committed to creating significant number of jobs, increasing the incomes of small holder farmers and ensuring food security in the country. “This is by providing high quality seeds, fertiliser and agro-chemicals, as well as technical assistance on best agricultural practice to farmers.” The Project Director, Dangote Rice Ltd, Mr Robert Coleman said that the Sokoto operation was a demonstration phase meant to familiarise the farming community with the programme. 

“The phase is to familiarise the farming community through the training of extension workers and lead farmers as well as test modern technologies, ‘he said. ”In 2017, they will have 25,000 hectares to be cultivated by nearly 50,000 outgrowers, in addition to 260 jobs expected to be created by the end of the year.” Gov. Aminu Tambuwal called on the farmers to respect the agreement signed between the state and Dangote group to ensure that,” all products are directed to the real sectors of need.’’ 

The coming of Dangote to invest in the state was as a result of the government’s sustained efforts toward inviting prospective investors to the state,” he said. Earlier, the Sultan of Sokoto, Alhaji Sa’ad Abubakar, commended President Muhammadu Buhari for diversifying the economy and urged Nigerians to pray for him.