Nigeria News (Standard)
NESG Flags Export Rerouting as Nigeria’s Trade Surplus Hits ₦7.55trn in Q1
Economic think tank warns Asia trade gap, missed China tariff policy threaten growth despite record surplus, urges structured partnerships
Economic think tank warns Asia trade gap, missed China tariff policy threaten growth despite record surplus, urges structured partnerships
The Nigerian Economic Summit Group (NESG) has raised concerns over persistent structural challenges in Nigeria’s foreign trade sector, even as the country posted a significant ₦7.55 trillion trade surplus in the first quarter of 2026. The NESG made this disclosure in Lagos on Saturday, citing new figures from the National Bureau of Statistics (NBS) showing a 341 percent jump from ₦1.71 trillion recorded in the previous quarter.
According to NESG’s latest foreign trade review, major imbalances in Nigeria’s international commerce are limiting the nation’s capacity to maximise its export potential and derive full value from global markets. The group identified export rerouting—where Nigerian goods are channelled through third countries before reaching final destinations—as a major constraint to sustainable trade growth.
The NESG noted that while Asia accounted for 55.5 percent of Nigeria’s merchandise imports in Q1 2026, the continent absorbed only 30.3 percent of Nigerian exports within the same period. This mismatch, according to the group, highlights the urgent need for more structured export partnerships with key Asian economies such as China and India if Nigeria is to balance its trade relations and secure better market access for local producers.
In its report, NESG pointed out that China’s recent introduction of a two-year non-reciprocal tariff-free policy for African exports presents a significant opportunity for Nigerian manufacturers and agro exporters. However, the group warned that Nigeria was not included in the initial batch of beneficiaries announced last month, meaning local producers risk missing out on tariff savings and expanded market access unless government agencies act swiftly to engage Chinese authorities.
The NESG urged policymakers to address these structural issues by improving export documentation processes, reducing bureaucratic bottlenecks at ports, and facilitating direct shipping links to major Asian markets. “Maximising our trade surplus requires more than headline figures—it demands reforms that ensure Nigerian goods reach buyers directly and benefit from available incentives,” the report stated.
Stakeholders in the manufacturing sector have echoed NESG’s call for urgent action, warning that continued reliance on rerouted exports could erode Nigeria’s competitive edge under emerging continental agreements like the African Continental Free Trade Area (AfCFTA). The NESG concluded by recommending targeted negotiations with China and India to secure improved market access for key Nigerian exports ahead of future tariff policy reviews.
Source: https://guardian.ng/business-services/nesg-flags-export-rerouting-as-major-trade-growth-constraint/
Nigeria News (Standard)
Lagos Stocks: Fidson, Africa Prudential, Access Holdings Lead Weekly Top Picks
Market analysts highlight improved performance of key companies as investors seek safe bets amid economic uncertainty
Market analysts highlight improved performance of key companies as investors seek safe bets amid economic uncertainty
Fidson Healthcare, Africa Prudential, and Access Holdings have emerged as the leading stock picks on the Nigerian Exchange for this week, with market analysts pointing to their recent strong performance and resilience in a volatile economic environment. The selection was announced on Monday in Lagos, reflecting renewed investor interest in companies demonstrating stability and growth potential.
The stocks were chosen based on a review of their recent trading activity, profitability, and positive outlook within the pharmaceutical, financial services, and banking sectors. Analysts noted that Fidson Healthcare has continued to benefit from increased demand for essential medicines, while Africa Prudential’s digital transformation initiatives have attracted institutional investors. Access Holdings, one of Nigeria’s largest banking groups, also maintained robust returns despite broader sector headwinds.
This development comes as investors across Nigeria remain cautious due to persistent inflationary pressures and fluctuations in naira value. The Nigerian Exchange has witnessed heightened activity in defensive stocks as market participants look for companies capable of weathering macroeconomic shocks. Experts say the latest picks signal a preference for firms with consistent dividend records and sound management practices.
Although official statements from the selected companies were not immediately available as at press time, financial analysts stress that these picks could help guide both retail and institutional investors navigating current market uncertainties. They advise potential investors to conduct due diligence before making portfolio decisions.
Market watchers will be closely monitoring how these stocks perform through the week, especially in light of upcoming quarterly results and policy announcements from regulatory authorities. The focus remains on sectors that can deliver steady earnings growth despite economic challenges facing Nigeria.
Nigeria News (Standard)
U.S.-Based Athletes Arrive Lagos for Commonwealth Games Trials at YABATECH
AFN postpones 100m final as thunderstorms delay flights, over 10 foreign stars now present in Lagos
AFN postpones 100m final as thunderstorms delay flights, over 10 foreign stars now present in Lagos
Over 10 United States-based athletes arrived in Lagos on Friday for the Athletics Federation of Nigeria (AFN) National Trials ahead of the 2026 Commonwealth Games, following flight delays caused by a thunderstorm. The event, initially scheduled to begin on Saturday at Yaba College of Technology (YABATECH), was shifted by one day to accommodate the late arrivals.
The athletes began arriving at YABATECH yesterday afternoon, with more expected as at press time. The delay in their arrival prompted organisers to postpone the highly anticipated men’s 100 metres final, which will now hold today instead of the original schedule. Among the foreign-based stars already present are Favour Ashe, Nyenuchi Okemgbo (400m hurdles), Chukwuebuka Enekwechi (shot put), Oyesade Olatoye (hammer throw and shot put), Dolapo Divine Oladipo (shot put and discus), and Obiageri Amaechi (discus).
The AFN National Trials serve as the major selection event for Nigerian athletes hoping to represent the country at the Commonwealth Games later this year. The influx of U.S.-based competitors is seen as a boost to Nigeria’s medal prospects, with many of these athletes having recorded impressive performances in recent international competitions.
An official from the Athletics Federation of Nigeria confirmed that the schedule was adjusted to ensure fair competition among all participants. “We had to move some events forward so that all qualified athletes can take part,” the official said. No official reaction has been received yet from local-based athletes or their coaches regarding the schedule change.
With more foreign-based competitors expected to arrive before the end of trials, stakeholders believe that this year’s selection process will be highly competitive. The final list of Team Nigeria representatives for the Commonwealth Games is expected to be released after completion of all events at YABATECH.
Source: https://guardian.ng/sport/u-s-based-athletes-flood-yabatech-for-commonwealth-games-national-trials/
Nigeria News (Standard)
Abua, Bassey Clinch CBN Senior Tennis Titles at Abuja’s MKO Abiola Stadium
Both players secure their first senior singles crowns as CBN marks 47th championship edition in the FCT
Both players secure their first senior singles crowns as CBN marks 47th championship edition in the FCT
Canice Abua and Etoro Bassey emerged as champions in the men’s and women’s singles categories respectively at the 47th Central Bank of Nigeria (CBN) Senior Tennis Championship, which concluded at the Package B of MKO Abiola Stadium in Abuja on Saturday. The tournament saw top local tennis talents battle for national honours over several days in the Federal Capital Territory.
Abua, who entered as the men’s top seed, delivered a commanding performance against defending champion and third seed Michael Akpan Emmanuel. The final ended in straight sets with Abua winning 6-1, 6-2, marking his first-ever triumph at this prestigious event after several previous attempts. In the women’s final, 18-year-old Etoro Bassey overcame a shaky start to defeat Ogunjobi Success 3-6, 6-0, 6-3 and lift her maiden senior singles trophy.
The CBN Senior Tennis Championship remains a crucial fixture on Nigeria’s sports calendar, offering homegrown athletes a platform to showcase their skills and advance their careers. Abua’s victory is seen as a breakthrough for the experienced player who is currently part of Nigeria’s Davis Cup squad for 2026. For Bassey, her win signals the rise of new talent in women’s tennis as she steps up from junior ranks to senior competition.
Speaking after his victory, Abua dedicated his title to God. “I thank God for His mercy and making me proud to be who I am,” he said at the post-match presentation. Bassey also expressed gratitude for her support team and looked forward to more opportunities at the senior level.
With this year’s edition concluded, organisers and tennis stakeholders have reaffirmed their commitment to supporting young talents and sustaining the annual championship. Attention will now shift to preparations for Nigeria’s Davis Cup campaign and other national competitions where both champions are expected to feature.
Source: https://guardian.ng/sport/abua-etoro-crowned-cbn-senior-tennis-champions/
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