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• ‘Nigeria’s riotous cattle-herding system stealing growth potential’ • Experts warn against undue optimism Defying projections and leveraging opportunities presented by the coronavirus pandemic through technology and remote work, Nigeria’s resilient private sector helped the economy to exit recession in the fourth quarter with a growth of 0.11 per cent. However, there are concerns about the country’s structural problems in the form of foreign exchange pressures, relatively lower oil prices and production, subdued global demand, spiralling consumer prices, repressed purchasing power, heightened unemployment levels, weak investor confidence, worsened insecurity and social tensions. The country’s Gross Domestic Product (GDP) grew 0.11 per cent in the three months through December from a year earlier, compared with a decline of 3.6 per cent in the third quarter, according to data from the National Bureau of Statistics (NBS) yesterday. ....
LAHORE: The High Commission of South Africa and the Lahore Chamber of Commerce and Industry will make joint efforts to build a meaningful partnership between the private sectors of the two. ....
• Intrigues over appointment of substantive AfCFTA chief trade negotiator • Rules of Origin abuse worries manufacturers • 81% rules of origin negotiated, abuse worries manufacturers Despite Nigeria’s comparative advantage and self-sufficiency status in the production of certain products, cement, flour, rice, sugar and 180 other products would not be liberalised under the African Continental Free Trade Area (AfCFTA), even though doing otherwise would help the country tame its rising inflation, The Guardian learnt.
Sources familiar with the tariff lines in the schedule submitted to ECOWAS by Nigeria for negotiation told The Guardian that, while 131 products are already on the import prohibition list, the remaining products on the exclusive list were picked based on national priorities, trade volume, priority, food security and competitive advantage. ....
LAHORE: The Lahore Chamber of Commerce and Industry has urged the government to declare a cotton emergency in the agriculture sector, as a historic fall in cotton production has started affecting. ....
’Femi Asu The Lagos Chamber of Commerce and Industry has said there is a need for the Central Bank of Nigeria to review its policy on the repatria. ....