All Posts in "Nigeria"

Nigeria, 12 others’ll grow global trade to $30tn – Report

By admin

 

A new report commissioned by Standard Chartered and prepared by PwC Singapore has said Nigeria and 12 other countries will be responsible for driving global trade to $30tn by 2030.

The report said global exports would more than double from $17.4tn to $29.7tn over the next decade, hinting that much of the growth would be driven by 13 markets.

It said Nigeria would be growing at an annual rate of 9.7 per cent, and export about $112bn by 2030, adding that its key corridors would be through India, Indonesia and Mainland China.

According to the report, Kenya, the second African nation on the list, would be growing by 7.6 per cent annually, with $10bn in exports by 2030 through key corridors, namely Pakistan, Uganda and the United States of America.

The list consists mostly of Asian countries with Mainland China contributing the most at $5.02tn by 2030 and growing at 7.1 per cent annually.

Other countries are Hong Kong ($939bn, 5.7 per cent), South Korea ($972bn, 7.1 per cent), and India ($564bn, 7.6 per cent).

Bangladesh, Singapore, United Arab Emirates, Indonesia, Malaysia, Vietnam, and Saudi Arabia also featured in the report.

The report is based on an analysis of historical trade data and projections until 2030, as well as insights from a survey of more than 500 C-suite and senior leaders in global companies.

According to the report, global trade will be reshaped by five key trends: the wider adoption of sustainable and fair-trade practices, a push for more inclusive participation, greater risk diversification, more digitisation and a rebalancing towards high-growth emerging markets.

It said almost 90 per cent of the corporate leaders surveyed agreed that these trends would be shaping the future of trade and would be forming part of their five to 10-year cross-border expansion strategies.

The research also found a significant trend towards the adoption of sustainable trade practices in response to climate concerns and a rising wave of conscious consumerism.

It said while almost 90 per cent of corporate leaders acknowledged the need to implement these practices across their supply chains, only 34 per cent ranked it as a ‘top three’ priority for execution over the next five to 10 years.

The Executive Director, Corporate Commercial and Institutional Banking, Standard Chartered Nigeria, Korede Adenowo, said, “The predicted doubling of global trade offers strong evidence that globalisation is still working, despite recent dislocation. In addition to the growth of intra-regional trade pathways, the corridors of the future will still cut across continents.

“Against this backdrop, we continue to focus on making globalisation work for more markets and businesses, ranging from micro to multinational, and drive a more sustainable and inclusive model for global trade. This includes growing our range of sustainable finance solutions to help our corporate clients implement sustainable and fair-trade practices across their supply chains.”

Patoma Admin by — November 26, 2021 in Food 0
Nigeria, Dubai flight delay caused by discriminatory protocols – Sirika

By Favour Nnabugwu

 

Minister of Aviation, Senator Hadi Sirika has said that the reason why Nigeria and Dubai resumption with the United Arab Emirates (UAE) is discriminatory nature of protocols introduced by the Emirati authorities.

Sirika, in his update, during the briefing by the Presidential Steering Committee on Covid-19, on Monday, June 28, 2021, in Abuja said the protocol appeared to be targeted at only Nigerians, added that it was discriminatory and not backed up scientifically.

He explained that UAE insisted that all passengers intending to visit its country must use Emirates Airline or spend two weeks in the alternative carrier’s country before gaining entrance to Dubai.

According to the Minister, if a Nigerian buys a ticket in a free market which Nigeria and UAE practice on Ethiopian Airline, that means he or she must remain in Addis Ababa for two weeks whether they have a visa or not before proceeding to Dubai.

This means the UAE was subtly insisting that Nigerians must fly by Emirates, a position the country found to be discriminatory and not acceptable.

Sirika dismissed suggestions that the continuous delay in the resumption of flights was ego related, but stated that both countries were in talks to resolve the matter.

He said  Emirates was not the only airline caught up in something of this nature as other airlines which Nigeria had also meted same treatment out to saw reason and adjusted.

He explained, “After review, some of the airlines, especially KLM, saw sense with what Nigeria presented which is that you can do the test 48 hours to 72 hours before you leave and do another test on arrival.

“Emirates at that time wanted us to do the test 48 hours before boarding and 48 hours is not yet the incubation time. They expect us to do a rapid test at the airport and then fly seven hours later and do another test in Dubai and then follow us to our hotel or our accommodation and do another test.

“That dragged on and in the interest of our people and cordial relationship, even though it is a commercial decision for the airline to take at any point in time, we ceded and accepted that we would do those tests that doesn’t make scientific sense to us at the expense of our people and our monies.

“We accepted what Emirates presented and proceeded even though KLM and other airlines saw our reasons and rationale and towed the line of Nigeria. In this case, Emirates insisted again that in addition to the test on arrival and other tests that Nigerians cannot fly to UAE except through Emirates airline.

“And that if we choose to do so through other airlines like Ethiopia, Qatar, Turkish or other airlines, we must remain in the country of that airline for two weeks if we are Nigerians before we continue to Dubai.

“Meaning that if I buy my ticket in a free market which Nigeria and UAE practices, if I buy a ticket on Ethiopian Airline, that means I must remain in Addis Ababa for two weeks whether I have a visa or not before I proceed to Dubai.

“So, they insisted that we must fly by Emirates and majority of Nigerians are petty traders and the ticket of Emirates, in this case, may be higher than other airlines.’’

He said,”It is only one aviation and we found this position to be discriminatory against our country and it is not acceptable.

We thought we could take it diplomatically and we have been meeting and exchanging ideas because at some point, they said they are being hard on Nigerians because there are fake results.

And I said there are fake results in UAE, Germany, UK, USA, all over the world, there are fake results but Nigeria went ahead to put measures in place to detect fake results.

So, we have gone the extra mile plus if you look at the rate of infection and the rate of people catching COVID-19 in Nigeria, we are far less than many other countries in the world which UAE did not apply that principle upon.”

Recall that the UAE authorities in Dubai had on June 19, announced a revision in procedures for international passengers coming from Nigeria, the Republic of India, and South Africa.

In the newly announced procedures, the authorities said it would ease restrictions and confirmed that Emirate Airlines would start carrying passengers from the countries with effect from June 23.

The Emirates Airline, however, on June 21, announced a fresh suspension of flights to and from Nigeria, in line with the directives from the UAE authorities.

Patoma Admin by — June 29, 2021 in Aviation 0
Finally, UAE lift ban on travels between Dubai, Nigeria

By Favour Nnabugwu

 

The United Arab Emirates, UAE, has finally lifted ban on travels between Dubai and Nigeria after a protracted disagreement between the two countries on Covid-19 protocols.

UAE had insisted on travelers from Nigeria undergoing several other covid-19 tests after the initial test in Nigeria.

Announcing the resumption of flight between the two countries yesterday, a message from the Dubai Media Office said passengers from Nigeria are now expected to ” have received a negative result for a PCR test taken within 48 hours before departure.”

” Passengers are also expected to present a negative PCR test certificate with a OR code from laboratories approved by the Nigerian government, while also undergoing the same test upon arrival at the Dubai airport”.

Reacting to the resumption of normal flights between Nigeria and Dubai yesterday, Emirates in a statement said : “Emirates welcomes the latest protocols and measures announced by Dubai’s Supreme Committee of Crisis and Disaster Management to allow the safe resumption of passenger travel from South Africa, Nigeria and India to Dubai.”

“We look forward to facilitating travel from these countries and supporting various travelers’ categories. We will resume carrying passengers from South Africa, Nigeria and India in accordance with these protocols from 23rd June.”

” We thank the Supreme Committee for their continuous efforts in monitoring the development of the situation and announcing the appropriate guidelines and protocols to protect the community and safeguard travel sector,” the statement added.

Patoma Admin by — June 19, 2021 in Aviation 0