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Tag: facilitation

  • Nigeria, EU, others consolidate progress on trade facilitation

    Nigeria, EU, others consolidate progress on trade facilitation

    Nigeria, Brazil, China, the European Union (EU) and other leading economic powers announced that they have made tremendous progress on investment facilitation initiative for development.

    The group made this known in Marrakech, Morocco, during the World Trade Organisation (WTO) Mini-Ministerial meeting.

    In a breakthrough for Nigeria, the group of World Trade Organisation (WTO) Friends of Investment Facilitation for Development (FIFD) pledged support for the success of the High-Level Investment Forum scheduled to hold in Abuja from November 3- 4.

    The Forum will be co-hosted by the Ministry of Industry, Trade and Investment and the Economic Community of West Africa (ECOWAS) Commission in partnership with FIFD.

    In a statement, the Communication & Strategy Adviser to the Minister of Industry, Trade & Investment, Dr Okechukwu   Enelamah, Mr. Constance lkokwu, explained that FIFD is an initiative by some WTO members, including Nigeria as a core member to drive trade and investment with deliverables in mind.

    The WTO investment coalition, he stated, is made up of Nigeria, Argentina, China, Australia, Brazil, Chile, Colombia, Hong Kong, Japan, Korea, Mexico, Pakistan, Russia, Singapore, Switzerland, Canada and the EU.

    lkokwu stated that a draft declaration is being negotiated for finalisation at the WTO in Geneva, Switzerland, as part of the deliverables for the Buenos Aires, Argentina, Ministerial Conference in December. According to him, one of the objectives of the investment coalition was to place investment facilitation as a priority for the WTO Ministerial MC11 in Buenos Aries, Argentina.

    The others, he said, was to achieve coherence between the trade and investment policy communities and position the WTO to be more pro-development with actual deliverables for its members while seeking active investment opportunities in their countries.

    Quoting the minister, lkokwu explained: “Nigeria is part of this coalition because government sees investment and trade facilitation as a positive and pro-development agenda.” Furthermore, he said it was the belief of government that the WTO is better responsive to domestic economic priorities.

    “This investment facilitation initiative is potentially significant to position WTO better to respond to the investment needs of developing countries in general and African countries in particular,” the minister added.

    The Director-General/Chief Negotiator, Nigerian Office for Trade Negotiations (NOTN), Ambassador Chiedu Osakwe, expressed delight at the progress made so far, saying: “This is for economic growth and recovery, creation of employment opportunities and connection to global value chains.”

    The Abuja event titled: “High-level forum on trade and investment facilitation for development” is expected to bring together African investment and trade decision makers as well as private sector representatives to share perspectives on leveraging trade and investment opportunities on the continent.

    It seeks to connect actual investors within and outside the continent with African policy makers in order to produce concrete outcomes.

     

  • High Commissioner-designate assures local manufacturers of export facilitation

    High Commissioner-designate assures local manufacturers of export facilitation

    Nigeria High Commissioner-designate to the United Kingdom (UK) Justice George Adesola Oguntade has assured local manufacturers, especially in the agro-allied firms, of his commitment to enhancing export of their produce.

    The envoy-designate said the facilitation of export promotion  was top on his list of measures to strengthen the long-standing  bilateral trading ties between the Commonwealth partners.

    Justice Oguntade, a patron of the Cosmopolitan Women’s Club, who was hosted to a reception in Lagos over his appointment, said despite the setback of insecurity precipitated by insurgency, his reign would regain the lost investment  confidence in Nigeria.

    He noted  that he would focus on relieving Nigerians of the rising hardship being encountered at the commission in England.

    “Being an ambassador to the United Kingdom for me is a great challenge in the sense that I’m going when there is a lot of suffering and hardship in the land and when we keep hearing strange stories from our embassy in England. I pledge that on my trip to England, the first thing I want to concentrate is to ensure that as many goods as possible are exported to Britain so that we may be able to reform our economy.

    “Those who know how to manufacture garri, cassava should go ahead because these are troubling times for Nigeria and we must collectively come together to save the country,” he said.

    British Deputy High Commissioner to Nigeria Laura Beaufils, who hoped for a stronger cooperation under Justice Oguntade’s reign, said the United Kingdom was particularly concerned about honing the skills and talents of Nigerian youths through its robust educational platform.

    She added that the UK would be relentless in leveraging the strength and huge potentials in Nigeria to support its  growth.

    “There are so many areas of cooperation. Business is long and the opportunities are endless but one that is particular to me is our youth. Young people. We are incredibly lucky in the UK to have so many incredible talented Nigerian young people that to our universities are testament of the talent that exist here in Nigeria. I hope that partnership in education, especially in tertiary education, continue under your leadership.  I look forward to working with you very closely,” she said.

    Hailing Justice Oguntade’s meritorious contribution to Nigeria’s judicial system since 1966, the  Cosmopolitan Women’s Club President, Chief Adeorike Durosinmi-Etti said Justice Oguntade would deliver the good mandate of defending the cause of Nigeria and Nigerians in the UK.

    Nigeria-British Chamber of Commerce President Akin Olawore said the chamber would support the high commissioner-designate.

  • NIPC to set up Investment Facilitation Fund

    NIPC to set up Investment Facilitation Fund

    The Nigeria Investment Promotion Commission (NIPC), has unveiled plans to set-up a special development fund called the Investment Facilitation Funds (IFF).

    The proposed fund, when launched, will be accessible for preparatory stages of investment for business expansion or green field projects across the entire nation.

    The Coordinator of Invest in LAKAJI Corridor with the NIPC, MallamAminu Takuma who spoke at Investment Facilitation Workshop for Northern LAKAJI Corridor States organised by NIPC and United States Agency for International Development (USAID/NIGERIA), in Kaduna State yesterday, said the IFF will be a replica of the Project Development Facility (PDF) currently being implemented by the USAID/Nigeria Expanded Trade and Transport (NEXTT) project for facilitation of investments along the LAKAJI Corridor.

    The PDF provides seed funding for early-stage project development to catalyse private investments in agribusinesses, transport and logistics providers along the Lagos – Kano – Jibiya (LAKAJI) corridor. Italso provides technical assistance through local Business Development Services Providers (BDSP) to support investments that will potentially export agricultural products and reduce the time and cost to transport goods along the corridor.

    Talking about ongoing efforts on the IFF, he noted that the investment commission seeks to “implement the proposed development Investment Facilitation Fund through a public-private partnership advocacy platform that will provide aftercare services to existing investments or start-ups at the preparatory level.”

  • ANLCA urges members on trade facilitation

    ANLCA urges members on trade facilitation

    The Association of Nigerian Licensed Customs Agents, (ANLCA) has directed its members to embrace the trade facilitation programme of  the Nigeria Customs Service (NCS) and partner its officers to ensure quick clearance of goods at ports and boost the nation’s revenue profile.

    Findings revealed that ANLCA, has mandated  its members to follow all Customs’ rules  and regulations associated with quick cargo clearance as we enter into the ember months and the Yuletide season.

    A member of the association from Onne Chapter, River State Chief Kingsley Offor, said the group has undergone various structural and operational changes in line with the freight forwarding profession with a view to attaining global standards and best practices.

    “ANLCA at national and levels have enforced compliance on members with the ethics and rules governing the profession aimed at creating a robust working relationship with all stakeholders with emphasis on the Nigerian Customs service (NCS)

    ANLCA as a major stakeholder in the freight forwarding profession, he said, has played tremendous role and impact in trade facilitation and revenue generation to the federal coffers.

    “These are reflected in most Customs area command as freight forwarders have created adequate partnership with officers and men of the Service with a view to enhancing revenue generation and facilitate trade,” Offor said.

    The new vigour injected by the current administration of Prince Olayiwola Shittu, has created a multiplier effect at most ANLCA chapters anchored on handwork, discipline, transparency and result-oriented programmes.

    Offor described the Onne chapter of the association, as a pacesetter in creating an enabling and conducive working relationship with the Customs.

    “ANLCA Onne chapter was the first chapter to erect a benefiting office structure for the association under the pragmatic leadership of Prince Prestige Ossy.

    A motor vehicle  importer in Onne, Mr Sunday Samuel and other stakeholders have however, called on Chief Offor to contest for the chairmanship of the chapter in their next election to allow for continuity and sustainability of the tempo in the chapter.

    Samuel and other stakeholders described Chief Offor as unassuming and humble, ready to listen and willing to serve with an independent and progressive mind for the benefit of majority.

    “Kingsley Offor has proved his mettle in the Nigeria Maritime industry and if elected as the Chairman, ANLCA Onne Chapter, he will usher in a virile, dedicated and result-oriented drive in the operational activities of licensed Customs agents,” he said.