Importation
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Canada’s merchandise exports increased 4.9 percent and imports were up 2.3 percent in December, Statistics Canada said Wednesday. The depreciation of the Canadian dollar continued to impact import and export values in December, said the national statistical agency. According to the agency, the average value of the Canadian dollar decreased sharply for a third consecutive…
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The Central Bank of Nigeria has stopped the Foreign Exchange Price Verification System for importers. CBN disclosed this in a statement signed by its Acting Director of Trade and Exchange Department, W. Kanya on Wednesday. According to the bank, importers no longer need PVS as a requirement for the completion of ‘Form M’ with effect…
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The Nigeria Customs Service generated a total sum of N3.21 trn in the year 2023, Comptroller General of the Service, Bashir Adeniyi told members of the House of Representatives Committee on Customs and Excise on Wednesday.Adeniyi who appeared before the committee accompanied by top officials of the NCS told the lawmakers that though the service targeted…
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To pressure international suppliers to reduce leaks of the potent greenhouse gas, on Wednesday, the European Union (EU) reached a deal on a law to implement methane emissions limits on Europe’s oil and gas imports from 2030. After carbon dioxide, methane is the second-leading cause of climate change and has a far higher warming effect…
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The National President of the Miyetti Allah Cattle Breeders Association of Nigeria, (MACBAN) Baba Ngelzarma has said that Nigeria spends nearly $1.7 billion annually in importing milk into the country. He disclosed this during an interview with NAN where he called on the Federal Government to pay more attention to the dairy industry through budgetary…
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US President Joe Biden on Thursday signed into law legislation that bans imports from China’s Xinjiang region over concerns about forced labor, the White House said. The Uyghur Forced Labor Prevention Act is part of the US pushback against Beijing’s treatment of the China’s Uyghur Muslim minority, which Washington has labeled genocide. The bill passed…
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International trade involves more than shipping U.S. products overseas. For many products, foreign sources of supply can provide higher quality, lower cost or some other desirable feature in comparison to U.S. sources. For instance, Italian shoes, French wines and Japanese cameras are widely available in the United States because of their recognized superiority in some…
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Nigeria’s economy faces continuous decline in investment inflows ahead of 2019 elections, some analysts who spoke to Business Day have said. Projections from the analysts are a result of the recent decline in capital importation numbers from Q2 2018, and especially as cloud of uncertainties surrounding the 2019 elections increase averseness to investing in…
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