By Lucy Ogalue

The World Trade Organisation (WTO) has described the legacy of the President of the African Development Bank (AfDB), Dr Akinwumi Adesina, as a source of pride for Nigeria and the African continent.

The Director-General (DG) of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, made the remark in a video message delivered to AfDB shareholders and delegates at the closing session of the bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.

The DG commended Adesina for what she called a decade of transformative leadership that significantly elevated the bank’s standing and contributed meaningfully to Africa’s development agenda.

“President Akinwumi Adesina is leaving behind a strong legacy of leadership and service. Nigerians and all Africans should be proud,” the WTO chief said.

Recalling their time together in the cabinet of former President Goodluck Jonathan, Okonjo-Iweala noted Adesina’s pioneering efforts in agriculture, especially his introduction of the digital wallet system to empower women farmers.

“I challenged him to reach an additional one to two million women farmers, promising performance-based budget support. He delivered, reaching two million more.

“That’s the kind of leader Akin is. He brought uncommon passion to his work and made a difference to the lives of farmers in the country.

“His leadership has significantly raised the profile of the AfDB to a new height of recognition and respectability,” she said.

Okonjo-Iweala, who was Nigeria’s Minister of Finance in 2015, led the campaign that resulted in Adesina’s election as AfDB President.

The WTO boss praised the growth of the AfDB’s capital base under his leadership from 93 billion to 318 billion dollars, describing it as a remarkable achievement.

She also commended Adesina’s “High 5s” agenda, a strategic framework focused on transforming key sectors across the continent, saying that the initiative remains critical to the achievement of Africa’s Agenda 2063.

“With sustained commitment and strategic focus, Africa’s development goals remain achievable,” she said.

The WTO director-general urged African nations to take greater ownership of their development and turn growing international interest in the continent into concrete investment opportunities.

She also lauded the African Investment Forum, a flagship initiative launched by Adesina and eight other partners to bring infrastructure and development projects to bankable stage.

According to her, the initiative complements the WTO’s efforts to promote economic integration and development in Africa.

Okonjo-Iweala further thanked African leaders, shareholders, and the bank staff for the support given to Adesina throughout his tenure.

She paid a special tribute to Adesina’s wife, Grace, for what she described as her “steadfast support for her husband’s demanding role” over the past 10 years.

Adesina, who assumed office in 2015, is completing his second five-year term as President of the African Development Bank. (NAN)(www.nannews.ng)

Edited by Benson Iziama

By Taiye Olayemi

The Nigerian stock market continued on a bullish trend on Wednesday, gaining N224 billion and marking a three-day positive trend.

Market capitalisation rose by N224 billion or 0.32 per cent, closing at N71.118 trillion when compared to N70.894 trillion recorded on Tuesday.

Similarly, the All-Share Index (ASI) climbed 354.25 points or 0.32 per cent, reaching 112,781.73 from 112,427.48 recorded on Tuesday.

The upward trend was driven by strong buying interest in medium and large-capitalised stocks, including: Oando, UH Real Estate Trust, Royal Exchange, Legend Internet, Lasaco Assurance and 27 other stocks.

Meanwhile, the market breadth closed positive with 32 gainers and 21 losers.

On the gainers’ chart, Oando soared by 10 per cent, settling at N51.70 while UH Real Estate Trust increased by 9.96 per cent, closing at N50.25 per share.

Royal Exchange rose by 8.64 per cent, ending the session at 88k and Legend Internet gained by 7.27 per cent, finishing at N5.90 per share.

Similarly, Lasaco Assurance climbed by 6.67 per cent, closing at N3.20 per share.

On the losers’ chart, Nigerian Railway Corporation dropped by 9.89 per cent, ending the session at N5.92 while ABC Transport fell by 9.83 per cent, settling at N2.66 per share.

Meyer lost by 9.63 per cent, closing at N8.45 and Academy declined by 9.58 per cent, finishing at N4.53 per share.

Also, Livestock Feeds shed by 6.77 per cent, closing N8.95 per share.

A total of 611.53 million shares worth N16.68 billion were traded across 13,682 transactions.

This is in contrast to 622.64 million shares worth N16.12 billion traded across 17,044 transactions earlier on Tuesday.

Transactions in the shares of Fidelity Bank topped the activity chart with 93.47 million shares worth N1.78 billion.

Guaranty Trust Holding Company followed with 87.20 million shares valued at N5.95 billion while Royal Exchange traded 73.08 million shares worth N64.93 million.

United Bank for Africa sold 57.11 million shares valued at N1.97 billion and Access Corporation transacted 38.76 million worth N854.59 million. (NAN) (www.nannews.ng)

Edited by Olawunmi Ashafa

By Martha Agas

The World Trade Centre (WTC), Abuja, on Tuesday unveiled an export launch pad aimed at boosting Nigeria’s competitiveness in global trade.

The pad was unveiled by its Vice-President, Mr Ahmed Adelaja, alongside the WTC Abuja Trade Desk shortly after its webinar.

The News Agency of Nigeria (NAN) reports that the webinar was on “Navigating Global Uncertainties and Breaking Barriers to Growth”, part of its series on ‘Nigeria’s Trade Competitiveness’.

Adelaja described the pad as WTC Abuja’s flagship business accelerator, designed to empower Nigerian exporters, particularly small and medium-scale enterprises to compete successfully in international markets.

He said that the transformative initiatives were in response to the constraints limiting Nigeria’s competitiveness to global trade which aligned with Nigeria’s economic diversification agenda and the African Union 2063 Agenda, among other policies.

He expressed confidence that the launch pad would provide solutions to concerns such as product packaging, compliance to international standards and access to logistics concerns.

“It will provide export-ready diagnostics, sector-specific market intelligence, packaging and compliance advisory and access to logistics partners, trade finance and verified international buyers.

“It will also serve as a pipeline for African Continental Free Trade Area (AfCFTA) trade, ECOWAS regional integration and global exports, focusing on agriculture, manufacturing, the creative economy and services,” he said.

According to him, the unveiling of the export pad aims to ensure that no viable export idea in Nigeria fails due to a lack of knowledge, access, or support.

While unveiling the WTC Abuja Trade Desk, he said that it would serve as a dedicated liaison and support hub for exporters.

Adelaja said that the services of the desk would also include offering market entry assistance, regulatory support, documentation guidelines, policy issue escalation, and business matchmaking through the global WTC network.

He said that the trade desk would also work with relevant organisations such as the chambers of commerce, trade agencies, international partners, stating that the WTC was determined to become a bridge to global opportunity.

He said the trade desk would also work with relevant organisations such as chambers of commerce, trade agencies and international partners, emphasising the determination of the WTC to become a bridge to global opportunities.

The keynote speaker, Prof Jonathan Aremu, said that Nigeria’s trade competitiveness was facing both global uncertainties and domestic barriers to growth, such as global volatility, weak oil prices and infrastructure deficits.

Aremu, a professor of International Economics Relations, said that navigating uncertainty and breaking barriers to enhance Nigeria’s trade competitiveness involved a multi-faceted approach from both the public and the private sector.

He said that the approaches include forming strategic partnerships, embracing digital transformation, diversification, local sourcing and regional import substitution, sequencing and negotiating Nigeria’s trade agreements and reordering the priorities of trade formulation and negotiation.

He said that the range of products or services offered in Nigeria should be expanded to help businesses reduce their reliance on any single revenue stream.

“Exploring new markets, either within Nigeria or internationally, can help businesses spread risk by targeting different customer segments or expanding into new geographical areas.

“Diversifying investments across different asset classes and currencies can help protect against inflation and currency devaluation,” he said.

Mr Kevin Oye, the President, National Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA), said that the private sector plays a vital role in export competitiveness.

Represented by the Director of the Abuja Liaison Office, Mahmud Ahmed, Oye said that competitiveness could be achieved through driving product and process innovation, powering production infrastructure, strengthening supply chains, and promoting global marketing. (NAN)(www.nannews.ng)

Edited by Kadiri Abdulrahman

By Taiye Olayemi

The stock market began the week on a positive note on Monday as investors gained N173 billion and performance indices soared by 0.25per cent.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation climbed by N173 billion, rising to N70.635 trillion from N70.462 trillion on Friday.

The All-Share Index also increased by 273.95 points or 0.25 per cent to close at 112,015.96, compared to 111,742.01 recorded on Friday.

This uptrend was driven by investors’ interest in medium and large capitalised stocks like: Multiverse Mining, Livestock Feeds, Lasaco Assurance, Neimeth International Pharmaceutical, Royal Exchange and 18 other stocks.

However, the market breadth ended negative with 33 losers and 23 gainers.

On the losers’ chart, Legend Internet declined by 9.90 per cent, settling at N5.55 while Secure Electronic Technology lost by 9.84 per cent, closing at 55k per share.

ETranzact dropped by 9.56 per cent, finishing at N6.15 and University Press fell by 9.32 per cent, ending the session at N5.35 per share.

Mc Nicholas shed by 7.31 per cent, closing at N2.41 per share.

On the gainers’ chart, Multiverse Mining rose by 9.87 per cent, finishing at N8.35 while Livestock Feeds soared by 9.57 per cent, settling at N10.30 per share.

Lasaco Assurance climbed by 8.11 per cent, ending the session at N2.80 and Neimeth International Pharmaceutical increased by 8.06 per cent, settling at 3.35 per share.

Also, Royal Exchange gained by 7.50 per cent, closing at 86k per share.

A total of 517.95 million shares worth N10.07 billion were exchanged across 17,019 transactions.

This is in contrast with 1.9 billion shares valued at N64.15 billion traded across 18,653 deals earlier recorded.

Transactions in the shares of Fidelity Bank topped the activity chart with 98.81 million shares worth N1.88 billion.

Royal Exchange followed with 58.45 million shares valued at N50.24 million while Access Corporation transacted 55.17 million shares worth N1.21 billion.

Cutix sold 32.26 million shares valued at N101.05 million and United Capital traded 27.18 million shares worth N534.38 million. (NAN) (www.nannews.ng)

Edited by Olawunmi Ashafa

By Vivian Emoni

The Head of Civil Service of the Federal Capital Territory (FCT), Mrs Grace Adayilo, says the MSMEs One Stop Shop initiative will enhance and strongly support small businesses in the country.

Adayilo said this at the 5th Abuja Enterprise Small and Medium Enterprises (SMEs) Expo in Abuja.

She commended the efforts of the Management of Abuja Enterprise Agency (AEA) for organising the expo, adding that the commitment has sustained the territory’s development.

According to her, this is in line with the President Bola Tinubu’s Renewed Hope Agenda, being championed in FCT by the Minister, Nyesom Wike.

She said that the MSMEs One Stop Shop was an initiative of the government to support MSMEs, with the aim of providing easy interaction between regulatory agencies and MSMEs across the country.

She said that the SME Expo had explored partnerships and created opportunities to enhance investment across the country.

Adayilo, who was represented by her Personal Assistant, Mrs Olaide Yongo, said that over the years, AEA had served as FCT’s special purpose vehicle for various SME initiatives like the expo.

She said that the AEA had also successfully implemented the FCT-CARES programme, under Nigeria’s COVID-19 economic recovery efforts, as well as engaged the One Village, One Product (OVOP) initiative.

The News Agency of Nigeria (NAN) reports that theme of the expo was, “Leveraging Financial Opportunities and Strategies to Mobilise Funding for Sustainable Growth”.

According to Adayilo, the theme is both timely and strategic.

“It focused on financial tools, investment strategies and collaborations to unlock capital and promote sustainable development.

“Beyond funding, the expo is a vibrant space to build networks, explore partnerships, and connect with distributors, customers and export markets,” she said.

Adayilo urged participants at the expo to fully engage and ensure that the programme enhanced their businesses.

She appreciated the FCT minister, corporate partners and sponsors for their unwavering support in making the event a success.

She said that their steadfast commitment to enterprise development, youth empowerment and inclusive economic growth had impacted greatly on SMEs in the FCT.

The Acting Managing Director, AEA, Dr Chudi Ugwuada-Ezirigwe, said that the expo was planned to improve the competitiveness of Nigerian SMEs and promote industrialisation.

Ugwuada-Ezirigwe said that it had also stimulated investment in digital technologies and strategically positioned made-in-Nigeria products in the African and global markets.

He said that the theme reflected the increasing need to empower SMEs with information, tools and strategies to access funding.

According to him, harnessing these opportunities demands a collaborative commitment from all stakeholders in the SME ecosystem which is made up of financial institutions, investors, policymakers and development partners.

“It is only through collective effort that we can create an enabling environment that promotes entrepreneurship and sustainable growth.

“The spirit of this expo is that it helped to gather various people together. At this time that we are together, we should be able to strategically position ourselves to run the expo quarterly,” he said.

Ugwuada-Ezirigwe said that the agency had successfully organised four previous editions with over 1,200 enterprises showcasing their goods and services to an estimated 11,000 visitors.

“The ongoing edition, just as the past ones, has featured impactful activities such as business clinics, symposia, interactive panel discussions and business advisory sessions,” he said.

He called on the exhibitors and participants to see the expo as an opportunity to expand their markets, work and cross fertilise ideas and innovations. (NAN) (www.nannews.ng)

Edited by Esenvosa Izah/Kadiri Abdulrahman