Echotitbits – Nigeria News

Tag: Global Trade

  • Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Tribune reports that Nigeria’s share of crude oil exports to the United States and India has risen, with recent surveys putting Nigeria’s share at 3.3% in those markets as other suppliers’ shares declined.

    The growth is attributed to pricing competitiveness for Nigerian sweet crude and geopolitical shifts affecting global supply chains.

    The Guardian and ThisDay also referenced the trend, including demand diversification dynamics and Nigeria’s positioning for Asian refinery demand.

    Echotitbits take: Higher export share is only a win if Nigeria can sustain volumes and reduce leakages. Oil theft, high operating costs, and downtime can erase headline gains. The strategic upside is using export momentum to stabilize FX inflows while domestic refining ramps up—if feedstock supply becomes more reliable.

    Source: The Punch –  https://punchng.com/nigeria-exports-2-57bn-crude-to-us-highest-in-africa/  2026-01-30

    Photo Credit: The Punch

  • Global Trade Shifts: Okonjo-Iweala Urges Nigeria to Court Strategic Investors

    Global Trade Shifts: Okonjo-Iweala Urges Nigeria to Court Strategic Investors

    Global Trade Shifts: Okonjo-Iweala Urges Nigeria to Court Strategic Investors

    WTO Director-General Ngozi Okonjo-Iweala urged Nigeria to aggressively court strategic investors as multinationals diversify supply chains away from China, stressing digital trade and infrastructure as anchors for industrial growth.

    Additional coverage across Nigerian media and stakeholder reactions indicate that the implications of the development will be closely watched in the coming days as policy, security, and market signals evolve.

    Echotitbits take: This highlights a critical pivot from aid-seeking to investment-attraction. Watch for whether the Federal Government introduces new tax incentives specifically for companies exiting the Asian market to set up local manufacturing hubs.

    Source: Vanguard – https://www.vanguardngr.com/2026/01/davos-2026-target-global-investors-to-cut-imports-create-jobs-okonjo-iweala-advises-fg/ (2026-01-22)

    Photo credit: Vanguard

    2026-01-22 09:00:00