GRBusiness
Terms of Trade increased by 2.3% in 2019 Q1


Nigeria’s Terms of Trade (ToT) rose by 2.3 percent in the first quarter of 2019, according to the latest figures released on Tuesday by the National Bureau of Statistics (NBS).
ToT is the ratio of export prices to import prices. It reflects the amount of import goods an economy can purchase per unit of export goods.
The rise recorded in Q1’19 means a rise in the value of Nigeria’s export compared to the imports.
According to the Bureau, the groups that contributed to the development were products of the chemical and allied industries, animal products, vegetable fats and oil products and wood products.
The NBS disclosed this in its Commodity Price Indices and ToT Q1’19 report.
The report stated, that “The all commodity group terms of trade stood at 98.92 percent in January, 101.71 percent in February and 101.17 percent in March.
“This represents an increase of 2.82 percent in February (compared to January), and a decrease of 0.5 percent in March (compared to February).
“On the average, the terms of trade increased by 2.30 percent during the quarter. This also indicates favourable terms of trade.
“The rise in the terms of trade was driven by Animal and Vegetable fats and oil (10.7 percent), wood and articles of wood, wood charcoal (8.5 percent), products of the chemical and allied industries (7.8 percent).”
“In Q1’19, the all commodity group import index, on average, decreased by 0.46 percent, following a 0.29 percent rise in February and a drop of 0.74 percent in March.”
On export index, it said, “The all commodity group export index, on average, increased by 1.85 percent between January and March 2019. It edged down (-1.27 percent) in March after rising 3.12 percent in February.
“The February increase, compared to January, was driven by animal and vegetable fats and oils (4.77 percent), Products of the chemical and Allied industries (3.46 percent) and Mineral products (3.29 percent) but was offset by prepared foodstuffs, beverages, spirits (-5.9 percent), live animals; animal products (-7.12 percent) and Footwear, headgear, umbrellas (-9.25 percent).”
It further stated, “During the quarter, the all region terms of trade registered 98.9 percent in January, 101.71 percent in February and 101.17 percent in March.
These indices show an increase of 2.82 percent in February compared with January, and a decrease of 0.52 percent in March against February, leading to an aggregate increase in the index by 2.30 percent.
The rise in the index was a result of stronger trade with Asia and the Americas during the quarter.”
Transport
Tinubu Approves N16.7bn for Immediate Reconstruction of Mokwa Bridge


President Bola Tinubu has approved the release of N16.7 billion for the immediate reconstruction of the Mokwa Bridge in Niger State, which was destroyed by flooding in May this year.
The Minister of Information and National Orientation, Mohammed Idris, announced this in Abakaliki on Saturday after a meeting with the Minister of Works, Senator Dave Umahi.
Idris, who is leading a Federal Government delegation on a three-day tour of projects and citizen engagements in the South-East, said the approval underscores the administration’s responsiveness to urgent infrastructure needs.
“We want to thank Mr. President and we want to thank the Honourable Minister of Works. We jointly discussed this and approached Mr. President, who graciously approved it. It means a lot to the people. It’s N16.7 billion to reconstruct the bridge — a 10-span bridge,” he stated.
The Minister also commended Senator Umahi for his swift response in the wake of the disaster, including dispatching experts to assess the damage shortly after the bridge was washed away.
According to Idris, the approval for the bridge reconstruction will be “music to the ears of the government and people of Niger State.”
In his remarks, the Minister of Works, Senator Umahi, said President Tinubu is a compassionate and listening leader, who is committed to solving the challenges confronting the citizens.
“The President approved the immediate reconstruction of the bridge as requested by the Honourable Minister. He graciously approved because of him,” he said.
Senator Umahi said the latest round of approvals for provision of infrastructure cuts across all the geo-political zones of the country.
He listed some of the approvals to include: the reconstruction of the washed-away 5-span bridge in Wukari, Taraba State; the Lokoja Bridge; the permanent repair of the washed-away section of the Afikpo in Ebonyi to Abia and Imo State; the Keffi Flyover Bridge; the Jebba Bridge in Kwara State; seven bridges in Edo State; and a bridge in Kebbi State.
Transport
In an Epic Move, Gov Mbah Inaugurates 5 Ultramodern Bus Terminals, Rolls Out 100 Mass Transit CNG Buses Across Enugu
Reporter: SANDRA ANI


… Launches New Transport Mgt. System, over 80 bus shelters
… This is unprecedented – Planet Project MD
In an uncommon move that changes the transportation landscape in Enugu State, Governor Peter Mbah, on Thursday, inaugurated five ultramodern transport terminals in various parts of the state in line with his integrated blueprint for a modern and multimodal transport ecosystem.
Mbah also launched the Enugu State Modern Transport System that would enable residents commute with ease, as well as a digital platform and over 80 modern bus shelters constructed across the state.
The terminals visited and personally commissioned were the Holy Ghost Terminal 1 (Enugu Central Station 1), designated for inter-state transport; Holy Ghost Terminal 2 (Enugu Central Station 2) for inter-city transport; Nsukka Terminal (Nsukka Central Station); Abakpa Nike Terminal (Abakpa Central Station), and Gariki Terminal (Gariki Central Station).


Mbah said the projects, which drew huge crowds and elicited palpable joy among the residents, were a key part of the administration’s integrated five-terminal Transport Infrastructure Projects, Phase 1, in line with his vision to grow the state’s economy from $4.4 billion to $30 billion.
Features of the terminal include food courts, banking halls, motels, shops, CNG refilling stations, and cinemas, while the Holy Ghost Terminals 1 and 2 are connected by 400m long sky bridge, said to be the longest in Nigeria. The buses feature free wifi and security equipment.
Addressing a mammoth crowd at the Holy Ghost Terminal 2, the governor recalled that until the commencement of the project in late 2023, the Holy Ghost area was “practically a synonym for chaotic traffic and general disorderliness.”
Continuing, he said, “Aside from the fact it constituted a major municipal blight, we knew we could not attain our audacious economic goals if we lacked an efficient public transport system that offered both comfort and dignity.
“We knew that our goal to make Enugu the most livable city in Nigeria would be a futile bid if we were unable to tackle problems such as persistent traffic gridlock.
“So, from the very first day of this administration, we made a promise: to build a world-class transport system that moves people, connects businesses and communities, and, crucially, that rightfully positions Enugu State as a model of modern governance, sustainable growth, and human dignity.
“Today’s commissioning of the newly completed world-class terminals and the CNG Bus Mass Transit Scheme is indeed beyond a ribbon-cutting exercise. It ushers in a whole new experience; fundamentally connecting our vision to action, and our action to the daily lives of the over seven million residents of Enugu State.”
He explained that alongside the CNG Rapid Bus Service (Mass Transit Scheme), the terminals were “central pillars of our transport agenda – a multimodal highway to the future – integrating road, rail, air, and waterways into one seamless, safe, and efficient ecosystem.”
He also described the terminals as catalysts for economic development and “engines of economic revival.”
“They represent our capacity to deliver projects that empower Ndi Enugu and set our state on a robust trajectory of growth.
“Already, this project is creating jobs, stimulating SMEs, and positioning Enugu to compete with Africa’s best. Through it, we’re creating over 20,000 jobs across BRT, 2,000 hybrid city taxis, airport operations, ride-hailing, and support services.”
He said that the Enugu Transport Management System would eliminate corruption that had been the bane of government enterprises to ensure sustainability, counting on an e-ticketing system that eliminates leakages, guarantees transparency, and ensures every payment is accounted for.


“Commuters simply need to purchase a ticket and top up as they find suitable. Remarkably, a single valid ticket grants the holder access to other buses. Importantly, our comprehensive insurance coverage protects both the assets and the people who use them,” he stated.
Mbah thanked President Bola Tinubu for his commitment to the state’s development.
“Through words and deeds, the President has demonstrated a sincere love and support towards Enugu – and indeed the South East’s progress. An example is the concession of the Akanu Ibiam International Airport, which would clearly reposition Enugu as an aviation and economic hub.
“So, we commend the President because no administration has given as much support to the sub-nationals as this President has done,” he concluded.
In his goodwill message, the Programme Director/CEO of the Presidential Initiative on CNG, Engr. Michael Oluwagbemi, who was represented by Engr. Tari Mayor-Bright, commended Governor Mbah for the ultramodern terminals and massive deployment of CNG buses.
“This is not just infrastructure, but a bold step in setting up a modern transportation system geared towards a cleaner, safer, and more affordable transport for the people of Enugu State,” he stated.
Also, the Managing Director of the contractors, Planet Project Construction Company, Biodun Otunola, said that building five terminals simultaneously was unprecedented.
“No administration has ever done this before in the history of Nigeria. We are in this industry and we have the records,” he stated.
He described the terminals as products of good research and the political will of the governor to get things done.
Speaking at the various locations, the Commissioner for Transportation, Dr. Obi Ozor; Council Chairman of Enugu North LGA, Dr. Ibenaku Onoh; Chairman of Nsukka LGA, Engr. Jude Asogwa; Chairman, Enugu State Council of Traditional Rulers, Igwe Samuel Asadu; Chairman, Ogige Market Traders Association, Hon. Onyema Idoko; President, Nsukka General Assembly, Clinton Ogbonna; Chairman, Enugu East LGA, Beloved Dan-Anike; Traditional Ruler of Nike, Igwe Julius Nnaji; Chairman, Enugu South LGA, Hon. Caleb Ani; and the Chairman, Enugu South Traditional Rulers Council, Igwe Mike Nna Ukwu, expressed the people’s joy over the projects and buses, describing them as economic catalysts.
GRBusiness
Borno State Launches Industrial Hub Management to Boost Trade, Investment


Professor Babagana Umara Zulum, governor of Borno state, has approved the establishment of a dedicated management unit for the Borno State Industrial Hub, aimed at enhancing trade and attracting investment within the state.
According to a statement from Bukar Tijani, secretary to the State Government, the administration is committed to strengthening the hub’s operations and drawing more investors to the region.
“His Excellency, Governor Babagana Umara Zulum has approved the establishment of a dedicated Borno State Industrial Hub Management Unit to further strengthen the operations of the Industrial Hub in Maiduguri, improve efficiency, and attract more investment into the State,” the statement read.
Located in Maiduguri, the state capital, the Industrial Hub is a multi-facility complex designed to stimulate economic growth through diversified manufacturing and processing activities.
Current operations include production facilities for solar panels, waste recycling, and food processing, covering ginger, tomato, cassava, and onion, as well as manufacturing lines for corn chips, biscuits, and school furniture.
Since its inception, the hub has shown significant potential to revitalize local industries and create jobs.
To oversee its progress, Governor Zulum appointed Engr. Bukar Kolomi, senior technical adviser to the Governor, as the Industrial Hub Manager, placing the unit under the Ministry of Trade, Investment and Tourism.
Commissioned in 2019 to serve as a catalyst for economic recovery following years of insurgency, the Industrial Hub has faced challenges including stalled activities, infrastructure deficits and security issues.
However, the recent appointment of a dedicated management team signals a renewed focus on addressing these challenges and unlocking the hub’s long-promised role in driving local production and employment.
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