trade policy

The High-Cost Industrial Trap: Why Sub-Saharan Africa’s Manufacturing Engine Is Stalling at the Factory Gate

Obafemi Fawibe2 days ago04 mins

The Nigeria Economic Summit Group recently issued a stark warning regarding the future of the nation’s industrial sector. The advisory body cautioned that escalating factory-floor production costs, an unstable national electricity grid, and fragmented freight logistics are rapidly eroding the competitiveness of Nigerian manufactured goods within the African Continental Free Trade Area. As trade barriers…

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Customs Seizes N908m Smuggled Rice in Q1 2026

Muhummad Musa6 months ago6 months ago02 mins

The Nigeria Customs Service intercepted 15,212 bags of smuggled foreign rice valued at 907.78 million naira during the first quarter of 2026. Data from the Enforcement Investigation and Inspection Department reveals an intensified regulatory clampdown across critical border entry points. Contraband traders continue to exploit porous boundary lines to bypass federal import restrictions and trade…

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World Bank Flags “Virtual Water” Crisis

Daniel Otera8 months ago03 mins

Every cup of coffee, cotton shirt and loaf of bread carries an invisible cost: the billions of litres of freshwater consumed in their making, long before they reach any shelf or table. A new World Bank report has placed this hidden burden at the centre of the global trade conversation, warning that the world…

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Nigerian Rice Industry Crumbles as Imports Hit N51bn

Babatunde Junaid8 months ago8 months ago03 mins

Nigeria spent N51 billion ($34.4 million) on foreign rice in 2024, signaling a sharp reversal of the self-sufficiency gains claimed by the previous administration. Data from UN Comtrade confirms that local rice has become uncompetitive against cheaper imports. High production costs and expensive energy are pricing Nigerian farmers out of their own market. President Bola…

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