New Post

Happy Tuesday and Welcome to Export Brief. A weekly newsletter with insightful developments and trends on non-oil export trade from Africa's largest economy and from the global stage. If you enjoy EB, share it with friends. 

• ⏲️: This edition is 1,122 words, a 4-minute read.

IN BRIEF

⚡ Situational awareness: Nigeria's headline inflation (CPI) for February 2023 was 21.91%, from 21.82% in January 2023 according to data released by NBS.

• Nigeria's Central Bank is likely to retain the current rates, as markets await the outcome of MPC meeting.

• Air Cargo Remains Crucial to African Trade

• China's Africa ties: why food is the new focus

TRADE

1 big brief: Air Cargo Remains Crucial to African Trade

Aviation, and air cargo in particular, must be prioritised if the African free trade agreement (AfCFTA) is to reach its full potential, this was stated at Air Cargo Africa in Johannesburg.

Why it matters: AfCFTA is the world’s largest free trade area, incorporating the 55 countries of the African Union (AU) and eight economic regions. Part of the continent’s Agenda 2063 strategy, it aims to boost income by $450bn and lift some 30 million people out of poverty.

• However, warned airline executives, connectivity across Africa is still poor, limiting its potential.

Between the lines: “But aviation has to work for the AfCTFA to work. Governments must prioritise aviation; you can’t transport goods efficiently by truck from Nairobi to Lagos, for example, it has to be done through aviation.”

💬What they're saying: Also part of Agenda 2063, the Single Africa Air Transport Market now has 34 signatories, but more is needed to be done, said Sanjeev Gadhia, CEO of Astral Aviation. “There are a lot of restrictions, many of which restrict African carriers, but not foreign carriers. We need to provide connectivity to less-accessible places, and the skies in Africa need to be open.”

• “But the continent needs more freighters, there are not enough. Foreign carriers with freighters are seeing the opportunity here, but African countries can’t meet it.”

UPCOMING EVENT

Attend GTR West Africa 2023 as a guest of IEOM

This event is a paid event and for corporate attendees, the fee is $499 while the standard rate is $1799. That information is also available here.

• IEOM is an institutional partner for GTR West Africa 2023 and this allows the Institute to admit a limited number of our corporate members to the event for FREE. As a corporate member of IEOM, your company can send a company representative to the event without the need to pay the standard or corporate rate.

• IEOM corporate membership costs N150, 000.00 and this is an annual subscription providing access to real benefits which include access to business roundtables (breakfast meetings), publications including research, discounted training, market intelligence for specific markets/products. For value, this is a much greater value than the standard/corporate rate for a one-time event.

TRADE ROUNDUP

SHIPPING | NEXIM backs navigational charting of Lower River Niger

Efforts by the Nigeria Export-Import Bank (NEXIM) to boost and promote regional trade and bulk movement of commodities through the Nigerian water ways received a boost recently following the unveiling of Navigational Charts of the Lower River Niger at an epoch-making ceremony that took place at the NAF Conference Centre in Abuja.

TRADE | China's Africa ties: why food is the new focus

• China is importing more food products such as avocados, cashews, sesame seeds and chilli peppers from Africa, as agriculture emerges as the new focus of Beijing's engagement with the continent.

• In the first two months of this year, Shanghai ports handled more than 40,000 tonnes of African agricultural products worth more than US$100 million, according to Shanghai Customs.

UPCOMING EVENT

A MESSAGE FROM GGI

Climate Action: With exploration comes the need for expertise and sustainability

At GGI, we combined expertise, innovation and sustainable practices in meeting our client's engagements. Our actions to mitigate climate change are central to making the world a better place. Learn more.

IEOM

The Institute of Export Operations & Management, as a Trade Support Institute is out to stimulate and facilitate non-oil export in Nigeria. Our vision is to become the foremost independent provider of export training and best research practice in Nigeria. In line with our mission, our intensive training progams both online and on-premise among others are designed to optimize your trade capacity and knowledge. We actualize this through the following:

• Access to Low-Interest Loan from our partner Bank*

• Export breakfast meetings

• The Export Brief magazine

• Seminars and workshops

• Banker and Exporter training

• Trade access and facilitation

Trade Intelligence Unit (TIU) is a division of IEOM Nigeria, providing export trade information, research, insights and analytics for organizations, agencies of government, businesses and individuals to help them make informed decisions. We help our clients by leverage on our proprietary tools to create access into our rich trade database in delivering innovative solutions.Join us in our quest to make Africa's largest economy to be self-sufficient through non-oil export and become a member of IEOM.*We have partnered with Standard Chartered Bank Nigeria in creating access to low-interest loans for our MSMEs members.For enquiries on memberships, trainings and collaboration on sponsorships of events, newsletters and magazine you can reach us on+234 909 332 8361, +234 808 302 [email protected].

COVER PAGE: TOURISM

• The Grand Egyptian Museum (GEM) in Giza, Egypt, may be the most anticipated tourist destination in recent memory. Construction began over 20 years ago, with promises to display thousands of never-before-seen artifacts of Ancient Egypt. But, like many facets of tourism, the museum's storied opening was further delayed by the COVID-19 pandemic. Later this year, travelers will be able to visit it for the first time."

• Giza—and its Great Pyramids—appears on the cover of this year's World's Greatest Places issue, which spotlights the 50 top spots to visit around the globe, with an eye toward those offering new and exciting experiences."

ADVERTISE IN EB NEWSLETTER

DATA WATCH

TWEET OF THE WEEK

PHOTOS OF THE WEEK

WOMEN IN TRADE/IWD: International Women’s Day exhibition and symposium was held by Nigeria Export Promotion Council and was led by Dr. Ezra Yakusak, CEO/ES recently in Abuja. The event was geared at celebrating female non-oil exporters and in recognition of their immense contributions to the export industry. Pic Credit: NEPC