• Advertise
  • Opinion
  • Features & Interviews
  • Investigation
  • Contact
Saturday, September 23, 2023
  • Login
No Result
View All Result
NEWSLETTER
The Lagos Today
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

    LASU Gets 13 New Governing Council Members

    Sanwo-Olu invites DSS to join Police investigation of Mohbad’s Death

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Lagos Police set up 13-Man Special Investigation Team to unravel Mohbad’s Death

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Fans lose hope over Indefinite Postponement of NPFL

    Fans lose hope over Indefinite Postponement of NPFL

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

    LASU Gets 13 New Governing Council Members

    Sanwo-Olu invites DSS to join Police investigation of Mohbad’s Death

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Lagos Police set up 13-Man Special Investigation Team to unravel Mohbad’s Death

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Former Super Falcons’ Captain, Oparanozie, retires from Professional Football

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Onigbongbo ready to host 2023 Lagos Street Soccer Championship Finals- Chairman

    Fans lose hope over Indefinite Postponement of NPFL

    Fans lose hope over Indefinite Postponement of NPFL

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

    Rema’s Hit Single ‘Calm Down’ reaches 1bn Streams on Spotify

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

Solve Trade Barriers, World Bank Tells Nigeria, Others

by Idonosan Debe
February 17, 2023
in Business
2 min read
0
0
World Bank Blames CBN For Nigeria’s Forex Crisis, Offers Solutions
Share on FacebookShare on Twitter

In order to reap the benefits of the African Continental Free Trade Area, non-tariff barriers and hurdles affecting cross-border goods crossings must be addressed, according to the World Bank Group.

In a new report titled “Can African trade integration be a game changer?”, the Washington-based bank noted that the AfCFTA, which hopes to connect 54 countries with a combined population of 1.3 billion and GDP of $3.4tn, has several challenges to overcome.

It noted that African businesses should also see the opportunities, as its research suggests that the agreement has the potential to bring significant economic and social benefits in the form of faster economic growth, higher incomes, and less poverty.

The World Bank also stated that in addition to ministries of trade involved in the negotiations, other government agencies in each country should also become familiar with AfCFTA and learn the key role they may be called to play in its implementation on the ground.

It added that tackling non-tariff barriers and hurdles affecting cross-border crossings of goods was paramount, as well as reducing barriers to trade in services because each country has its own regulations covering industries such as logistics and transport, financial services, tourism, and communications.

The report partly read, “The agreement faces several challenges. However. the African private sector, including SMEs that could benefit from AfCFTA, should become more familiar with the different chapters of the treaty and learn how the topics addressed – such as the liberalisation of trade in services – can be leveraged to boost their businesses.

“So, signing the agreement is just the first step. It will take much more to unlock AfCFTA’s potential gains in trade, investment, and jobs. African nations will need to support the AfCFTA Permanent Secretariat, based in Accra, Ghana, which is charged with administering the agreement.  Domestic laws and regulations will need to be harmonised with the agreement’s protocols on investment, intellectual property rights, competition and digital trade.”

To reap the gains of the agreement, the World Bank emphasised that stakeholders must encourage progressive liberalisation of cross-border trade and investment policies in line with AfCFTA protocols to establish the groundwork for regional value chains in Africa.

It also advised member states to strengthen cross-border trade and investment in services by facilitating trade in digital services, removing FDI restrictions, and liberalising the movement of workers.

“It is now up to the member states – and champions within to lead – working together with the private sector and civil society, to ensure that the promise of the AfCFTA can finally be a game changer for Africa and reap its many benefits for its people,” the report read further.

Follow us on social media
  • Facebook
  • Twitter
  • Instagram
Tags: African Continental Free Trade Area (AfCFTA)NigeriaTrade barriersWorld Bank
Previous Post

Actress Omoseyin Gets N5m Bail, Trial Begins April 3

Next Post

New Naira: Gbajabiamila Faults Buhari, Says ‘You Are Flouting Ruling Of Supreme Court’

Idonosan Debe

Idonosan Debe

Related Posts

Cardoso assumes Office as Acting CBN Governor

Cardoso assumes Office as Acting CBN Governor

by Segun Adewunmi
September 22, 2023
0

Dr. Olayemi Michael Cardoso has assumed duty as Acting Governor of the Central Bank of Nigeria. This was disclosed via a...

Tinubu set to arrive Lagos from Paris trip

UNGA78: FG to secure over $30bn Foreign Investment

by Rosemary Opara
September 22, 2023
0

Nigeria’s participation in the 78th United Nations General Assembly (UNGA78) has surpassed mere diplomatic exchanges, ushering in the promise of...

Next Post
#EndSARS: Trauma, Slow Patronage Linger After Hoodlums Attack on Businesses in Lagos’ Surulere Community

New Naira: Gbajabiamila Faults Buhari, Says ‘You Are Flouting Ruling Of Supreme Court’

Please login to join discussion

Recommended

Court Jails Former Dangote GM, Others For $32,000 Fraud in Lagos

Court Orders Nigerian Govt to Reserve 35% of Public Offices for Women

1 year ago
Ex-Force PRO Frank Mba graduates from NIPSS

Ex-Force PRO Frank Mba graduates from NIPSS

10 months ago

Popular News

    Newsletter

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu Bitcoin CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) China Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Drug Trafficking EFCC Federal Government Federal Government of Nigeria Fraud Godwin Emefiele Gov. Sanwo-Olu Insecurity Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Murtala Muhammed International Airport Naira NDLEA New naira notes Nigeria Rape Strike action United states US

    News

    • Business
    • National
    • Politics
    • Tech

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    No Result
    View All Result
    • Home
    • News
      • Lagos News
      • National News
      • World News
    • Entertainment
    • Opinion
    • Business
    • Features & Interviews
    • Best Of Lagos
    • Things To Do

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In