Business
Africa Yet To Realise Potential In Trade With India – Minister

The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, yesterday said African countries had not yet realised their true potential in bilateral trade with India.
Adebayo made this known at the 16th Confederation of India Industry – EXIM Bank (CII-EXIM) Conclave on India and Africa Project Partnership with the theme: ‘Harnessing the Africa-India Opportunity: Connect, Create, Collaborate’.
Adebayo, in a statement by his Special Assistant, Media, Mr Ifedayo Sayo, said African countries predominantly exported raw crude oil and other extractive resources to India.
“India is now Africa’s third largest trading partner. Yet the bilateral trade data and patterns suggest that true potentials have not been realised as African countries predominantly export raw crude oil and other extractive resources to India.
“In the light of Africa Continental Free Trade Area (AfCFTA), as African countries aim to reduce economic dependence on resource trade, India could play a catalytic role in Africa’s collective efforts to boost manufacturing and service exports,” he said.
He listed the main export destinations for India in Africa to include South Africa, Kenya, Egypt, Nigeria, Tanzania, Mauritius, Mozambique, Algeria, Ghana and Ethiopia.
To improve the trade relations with India, Adebayo said the Federal Government had prepared an intervention programme articulated in the form of an implementation plan relative to different sectors in the economy.
The sectors, according to him, includedagriculture, manufacturing, mining, oil and gas, tourism and hospitality, transport, information and communication technology, and digital economy.
“Government’s economic policy favours and places priority on greater trade and investment in agricultural production and agro-processing Industries,construction, tourism, manufacturing and export.
“Theseinvestment opportunities are embedded in the following sectors of Nigerian economy: agriculture, solid minerals, tourism, power sector, construction and transportation.
“The National Action Committee on AfCFTA is also working towards setting up AfCFTA implementation Focal Desks in states and has urged state governments to explore their areas of comparative advantage for economic growth and job creation,” he said.
The minister added that AfCFTA had great potential of creating a combined consumer and business spending of about 6.7 trillion dollars, while offering some of the world’s biggest opportunities for attracting Foreign Direct Investment (FDI).
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports5 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports5 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports5 days ago
NPFL club name Iorfa new GM
-
Sports5 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports5 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports5 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports5 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics4 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension