Connect with us

Business

APFFLON cautions FG on $1 billion AfCFTA credit facility

Published

on

*Calls for removal of bottlenecks at ports

The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has commended the Federal Government of Nigeria for approving the proposed $1 billion African Continental Free Trade Area (AfCFTA) Credit Facility designed to support Nigerian exporters and businesses in accessing opportunities within the African market.

However, the association has urged the Federal Government to address the critical challenges confronting local manufacturers, exporters, freight forwarders, logistics operators, and small-scale businesses before committing substantial resources to AfCFTA financing initiatives.

In a statement issued by the President of APFFLON, Otunba Frank Ogunojemite, the association noted that while AfCFTA presents enormous opportunities for economic growth and regional integration, Nigeria’s ability to maximise these benefits depends largely on the competitiveness of its domestic industries and the efficiency of its trade facilitation systems.

According to APFFLON, several factors that hindered the success of previous African trade initiatives and treaties remain unresolved. These include poor infrastructure, high production costs, inadequate power supply, multiple taxation, foreign exchange constraints, excessive port charges, cumbersome export procedures, and regulatory bottlenecks that continue to frustrate businesses engaged in international trade.

The Association expressed concern that many local manufacturers and Small and Medium Enterprises (SMEs) are already struggling to survive under the current business environment and may not be able to take advantage of AfCFTA opportunities despite the availability of credit facilities.

“While access to finance is important, funding alone cannot solve the fundamental challenges affecting Nigerian businesses. Before providing large-scale AfCFTA credit support, government must first create an enabling environment that allows local industries to compete effectively with their counterparts across Africa,” the statement noted.

APFFLON therefore called on the Federal Government to prioritize reduction of port charges and elimination of unnecessary trade bottlenecks.

The association also called for full implementation of the National Single Window and other trade facilitation reforms, as well as improvement of road, rail, port, and border infrastructure.

Other demands according to the association include: “Simplification of export documentation and cargo clearance processes. Support for local manufacturers through tax incentives and reduced production costs. Improved access to foreign exchange for exporters and manufacturers.

“Strengthening collaboration among government agencies responsible for trade regulation and export promotion. Development of policies that encourage value-added exports and industrial growth.”

The Association emphasized that unless these challenges are adequately addressed, Nigeria risks becoming a consumption market for goods produced by other African countries rather than emerging as a leading exporter under the AfCFTA framework.

APFFLON maintained that sustainable economic growth, industrial development, job creation, and export expansion can only be achieved through comprehensive reforms that strengthen Nigeria’s production and logistics capacity.

The Association reaffirmed its commitment to partnering with the Federal Government and other stakeholders in promoting efficient trade facilitation, logistics development, and policies that enhance Nigeria’s competitiveness within Africa and the global marketplace.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

TTSWG set for telecom, tech stakeholders’ exhibitionn

Published

on

Oloruntoba

The Telecommunications and Technology Sustainability Working Group (TTSWG) has announced plans for the second edition of its annual conference and innovation exhibition, bringing together key stakeholders in Nigeria’s technology and telecommunications sectors.

The event, scheduled for Thursday, September 24, 2026, will be held at the Balmoral Convention Centre, Ahmadu Bello Way, Victoria Island, Lagos.
Tagged the IMC Conference and Innovation Exhibition, the event is sponsored by IHS Nigeria and is expected to attract policymakers, chief executives of leading technology firms, investors, development partners, financial institutions, innovators and thought leaders from Nigeria and beyond.

According to the organisers, the conference is designed to unlock opportunities in Nigeria’s technology and telecommunications sectors, with sustainability at the centre of discussions and innovations.

Other partners supporting the event include Hydrogen, Nigeria Climate Innovation Centre (NCIC), LBS Sustainability Centre (LBSSC) and MTN.
TTSWG said the IMC Conference and Exhibition has emerged as a major platform for innovation and sustainability, following the success of its inaugural edition.

The maiden edition attracted more than 300 physical participants and 759 registrants, while 17 innovative solutions were showcased, helping to promote sustainability-driven entrepreneurship within the technology ecosystem.

The organisers said the second edition would build on that momentum by providing stakeholders with opportunities to network, exchange ideas, showcase innovations and explore practical solutions for sustainable growth in Nigeria’s digital economy.

Continue Reading

Business

FG deploys 668,000 meters, moves to end estimated billing

Published

on

Electric metres

In a move aimed at reducing estimated billing and closing the country’s metering gap, the Federal Government has deployed 668,000 electricity meters under Phase One of the $500 million World Bank-financed Distribution Sector Recovery Programme (DISREP).

The figure represents about 60 per cent of the 1,033,000 meters delivered under the programme, as the government intensifies efforts to ensure that registered electricity consumers are accurately metered.

The development was disclosed at the second 2026 meeting of the National Council on Privatisation (NCP), chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.

Briefing journalists after the meeting, the Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, said the council received updates on the implementation of various initiatives designed to improve service delivery and strengthen the electricity sector.

He said the metering initiative remained a key component of ongoing efforts to address challenges in the power sector and improve transparency in electricity billing.

“On various issues, we provided updates on meter deployment under Phase 1 of the World Bank-financed Distribution Sector Recovery Programme. We have implemented 60 percent of the meters that have been delivered in the country out of 1,033,000. So far, we have deployed and installed 668,000 meters on customers’ premises,” Gbeleyi said.

He said the metering initiative, alongside programmes such as the Presidential Metering Initiative, was designed to address the metering deficit and eliminate estimated billing for electricity customers.

Gbeleyi also disclosed that about 17 states had established their own State Electricity Regulatory Commissions since April 2024 as part of the implementation of the Electricity Act.

He noted that Akwa Ibom State became the latest state to establish its own electricity regulatory commission in July.
According to him, some aspects of the implementation of the Electricity Act require further clarification and harmonisation among relevant stakeholders.

He said the NCP had directed the Attorney-General of the Federation, Minister of Power, Special Adviser to the President on Power, Special Adviser to the President on Oil and Gas, Nigerian Electricity Regulatory Commission (NERC), BPE and other stakeholders to engage on the necessary amendments to the law. “Some fine-tuning is required here and there in the implementation of that Act,” Gbeleyi said.

“Council has directed those stakeholders, led by the Attorney General of the Federation, the Honourable Minister of Power, the Special Adviser on Power, the Office of the Special Adviser to the President on Oil and Gas, the Nigerian Electricity Regulatory Commission, the BPE and all other critical stakeholders, should engage constructively so as to streamline and harmonize the Federal Government’s position in terms of the required amendments to fine-tune the Electricity Act.”

Also speaking, the Minister of Power, Joseph Olasunkanmi Tegbe, said the Federal Government was working collaboratively to ensure Nigerians derive greater value from electricity and other critical sectors of the economy.

“We are working concertedly and in a very collaborative manner to ensure that we give value, either in electricity or in telecoms—whichever area—to make sure that Nigerians benefit from this government,” Tegbe said.

The meeting was attended by the Minister of Finance and Coordinating Minister of the Economy, who is the Vice Chairman of the council; the Minister of Power; the Solicitor-General, representing the Attorney-General of the Federation; the Minister of Industry, Trade and Investment; and private members of the council.

The NCP meeting formed part of ongoing efforts by the Federal Government to strengthen reforms in the power and other critical sectors of the economy.

 

Continue Reading

Business

DataPro to host international credit rating webinar in October

Published

on

DataPro Management, a licensed and regulated credit rating agency, has announced plans to host its 2026 International Rating Webinar in October.
The webinar, scheduled for October 8, 2026, at 2 p.m. West Africa Time, will focus on the theme, “Sovereign Credit Rating: Africa’s Roadmap to Investment Grade Status.”
The event will bring together experts and stakeholders in the credit rating and public finance sectors to examine Africa’s sovereign credit outlook and strategies for achieving investment-grade status.
Panelists for the webinar include Torsten Schmidt, Head of Macroeconomics and Public Finance Research, RWI; Daniel Cash, Founder, Credit Rating Research Initiative; Oluwakemi Babalogbon, Executive Director, Risk Management, Ministry of Finance Incorporated (MOFI); Kai Gehring, Professor of Political Economy, University of Bern; and Misheck Mutize, Lead Expert on Credit Rating Agencies, African Peer Review Mechanism (APRM).
Oladele Adeyemi, Chief Rating Officer, DataPro, will moderate the session.
Stakeholders in the credit rating industry, financial sector and the media are expected to participate in the webinar, which is free to attend.
The organisers said the event would provide participants with an opportunity to gain insights into sovereign credit ratings and the steps African economies can take to attract investment and improve their credit standing.

Continue Reading

Trending