General News
USA, Sub-Saharan Africa to See Trade Growth, says DHL
DHL Express , the world’s leading courier and express company, believes that trade between the United States of America and Sub-Saharan Africa is set for continued growth, as both regions build upon the recent U.S. Presidential Policy Directive (PPD) to achieve sustainable development through increased trade and investment.
“We have already seen this increased trade in specific countries on the continent, as they take advantage of preferential trade agreements and state-led policy change to increase exports and imports with the U.S.,” said Charles Brewer, managing director for DHL Express Sub-Saharan Africa.
Brewer is currently on a visit to the United States to meet with key stakeholders and multi-nationals and promote commerce between the two regions.
Figures recently released by the International Monetary Fund (IMF) as well as the company’s own performance, reveal an extremely positive economic outlook for Africa.
The figures also highlight the fact that Africa is proving to be less susceptible than other regions to the peaks and troughs in the global economy, as it diversifies its trading partners.
“Since 2001, many African countries have seen a significant shift in trade partners,” noted Brewer.
“Our dependency on Europe has been reduced, while trade with Asia as well as intra-Africa has picked up significantly. The next region for growth is the U.S. and we’re very pleased to see the U.S. government’s willingness to break down trade barriers to achieve this.”
The IMF’s Regional Economic Outlook for Sub-Saharan Africa report found that economic activity in the region is projected to expand by about 5% in 2012 and 2013, a similar pace to that observed in 2010-11. Key markets driving this growth are Nigeria, Ghana, Mozambique, Mauritius and South Africa.
The express company has seen a similar picture appearing between the US and various African trade lanes, with larger, more developed economies like South Africa, Nigeria, Ethiopia, Kenya, Ghana and Angola boasting strong double digit growth on both inbound and outbound volumes.
However, according to their shipment figures, it is the smaller, rising economies that are seeing a major boom, with Somalia, Mayotte, Guinea-Bissau and South Sudan seeing meteoric increases in imports from the U.S., and Comoros, Eritrea, South Sudan and Liberia enjoying significant demand for exports to the States.
“The USA and Africa have historically enjoyed favourable trade conditions based on the Africa Growth and Opportunity Act (AGOA) of 2000,” said Ian Clough, CEO for DHL Express USA.
“We are confident that, when this legislation is reviewed , there will be further benefits for both U.S. and African businesses looking to build cross-border business opportunities.”
According to statistics released at the AGOA Forum in Addis Ababa last month, U.S. total trade with sub-Saharan Africa (exports plus imports) has grown more than 250 percent , to $72.3 billion in 2012 from $28.2 billion in 2001, the first full year of AGOA trade.
“There is no doubt that there is commitment to trade growth from the respective governments, and these figures will continue to rise,” concluded Brewer.
“It is now the role of the private sector and the thousands of SMEs looking for opportunities to take advantage of this growth, and build success on this lucrative trade lane.”
Federal government recently received a proposed protocol agreement from India that could pave the way for agricultural cooperation between the two countries.
Abishek Singh, India’s high commissioner to Nigeria, announced the proposal recently n Abuja during the India-Nigeria Business Forum on Agriculture and Allied Sectors.
New Delhi’s proposed cooperation would support Nigeria’s food security efforts, with the goal of reducing post-harvest losses by nearly 50% and expanding agricultural processing.
It would also cover technology transfers, mechanization, financing solutions and capacity building.
Abuja has opened similar discussions with China.
Only recently, Mukhtar Muhammed, permanent secretary at the Ministry of Innovation, Science and Technology, said Nigeria wanted to deepen scientific and technological cooperation with Beijing in agriculture.
The discussions with China have focused on developing low-cost, solar-powered cold storage facilities and transferring food-processing technologies.
Nigeria, also wants to work with Chinese research institutes to develop infrastructure that can improve the preservation of perishable products.
Nigeria’s outreach to its Asian partners addresses a major problem for the agricultural sector.
The Bank of Agriculture (BoA) estimates that Africa’s most populous country loses 30 million to 40 million tons of food each year before it reaches consumers.
Those losses are worth an average of about N3.5 trillion ($2.5 billion) annually, according to data the institution presented at a workshop in Kaduna in July 2026.
Perishable products are particularly vulnerable, according to local media reports, with fruits and vegetables accounting for an estimated 40% to 50% of total losses.
The government has already launched its own response to the problem.
Independent Corrupt Practices and Other Related Offences Commission (ICPC) indicted the National Information Technology Development Agency (NITDA) and other ministries over administrative lapses that allowed the fictitious Presidential Foreign Investment Promotion Council (PFIPC) to operate.
Musa Aliyu, chairman, ICPC, stated that NITDA, alongside the Office of the Secretary to the Government of the Federation (OSGF), the Budget Office, and other bodies, failed to carry out adequate due diligence and standard operating procedures.
ICPC said however, clarified that the findings pointed to severe internal control weaknesses and administrative negligence rather than active official complicity by NITDA and the other affected agencies.
The briefing followed a 30-day investigation ordered by the president on July 7 into allegations surrounding the purported presidential council.
The commission also cleared the presidency and the Central Bank of Nigeria (CBN) of any wrongdoing but blamed institutional lapses in several ministries, departments and agencies (MDAs).
Aliyu said investigators established that Adeniyi Adeyemi, the director-general, was never appointed by the federal government and that the PFIPC had no legal existence.
“As you may recall, on the 7th of July, Mr. President directed the ICPC to conduct an investigation into the fake Presidential Foreign Investment Promotion Council and submit a report within 30 days,” he said.
“Today, exactly within the stipulated period, we have submitted an interim report based on our interactions with all stakeholders involved.”
According to Aliyu, Tinubu directed the commission to make its findings public in the interest of transparency and accountability.
He said the investigation found that Adeyemi’s purported appointment letter was forged.
“It has been established that Adeniyi Adeyemi Matthew was never appointed by the Federal Government or any authority whatsoever,” he said.
“The Presidential Foreign Investment Promotion Council, which sometimes they called the Presidential Foreign Intervention Promotion Council, was never established by any law, executive order or any valid instrument of government.
“The appointment letter presented by Adeniyi Adeyemi Matthew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency.”
Aliyu stated that a purported government gazette used to legitimise the organisation was also fabricated.
“If you recall, there was a gazette which he used to support the fake agency. That gazette is an illegal document that never passed through the processes prescribed by law,” he stated.
“Our investigation found that the office used by the fake agency was the office of the Presidential Economic Advisory Council. The office was broken into and access was gained illegally. That was how he was able to operate from there.”
Aliyu also revealed that investigators uncovered two additional fictitious government agencies allegedly created by the suspect — the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP).
According to him, fake legislative instruments were used to create the agencies and open bank accounts.
Despite the elaborate scheme, the ICPC chairman said the investigation found no evidence that federal government funds were disbursed to the fake council.
“Our investigation found that no funds of the federal government were approved or disbursed to the fake PFIPC,” he said.
“We also discovered no weaknesses in the systems of the State House or the Central Bank of Nigeria during our investigation. The fake appointment letter did not originate from the presidency.
“Our investigation found that some public officers failed to carry out due diligence and failed to comply with standard operating procedures in their ministries and departments. That gave him the opportunity to carry out these illegal acts.”
Nigeria tax system is build on taxing prosperity not poverty, according to Dr. Zacch Adedeji, executive chairman, Nigeria Revenue Service (NRS).
Dr. Zacch Adedeji, executive chairman, Nigeria Revenue Service
Adedeji, also dismissed the insinuation that the government’s tax reform is aimed at extracting money from Nigerians .
He said the essence of reform is creating an economic environment where individuals and businesses can prosper.
Dr. Adedeji made the clarifications on Sunday night while appearing on Channels Television’s Politics Today, where he defended the administration’s tax reforms and addressed concerns over rising government revenue amid the economic hardship facing Nigerians.
According to him, the government’s objective is to tax the fruits of investment rather than the investment itself.
“For us at Nigeria Tax, we are not there to extract. Our focus is not revenue. I don’t want to tax poverty. I’m to tax the fruit, not the seed, and I’m to tax the return, not investment.”
Adedeji explained that the government would generate more revenue as businesses became more profitable, without necessarily increasing the tax burden on individuals and companies.
He said a company that made N100 in profit could generate N30 in tax revenue for the government, but if its profit increased to N200 or N300, government revenue would rise accordingly.
“So, if I want to make more, I must work for you to make more. And that is why it is in the best interest of us in Nigeria Revenue Service that businesses are doing well, individuals are doing well,” he said.
He said the approach was consistent with President Bola Tinubu’s economic agenda, which seeks to remove barriers to investment and create a more conducive environment for businesses to operate and expand.
Adedeji cited reforms in the electricity sector as part of the government’s efforts to stimulate economic activity.
He noted that the Electricity Act had devolved powers to state governments to generate, transmit and distribute electricity, arguing that improved power supply would boost production and productivity across the economy.
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