Business

RMRDC Debuts Quarterly Statistical Bulletin Series

Published

2 years ago

January 20, 2025

775 Views

The Raw Materials Research and Development Council (RMRDC) has officially launched its Quarterly Statistical Bulletin Series, an initiative aimed at redefining the trajectory of Nigeria’s industrial landscape, providing a cornerstone of data-driven policy formulations, and a vital tool for industrial transformation in Nigeria.

The Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, said during the launch of the publication, weekend, in Abuja, that the council’s mission has always been clear: to harness Nigeria’s abundant raw materials for sustainable industrial development.

He observed that the council had intensified efforts to provide evidence-based data and insights to stakeholders, investors, and policymakers, enabling them to identify opportunities, address challenges, and shape effective policies for economic growth.

“The Quarterly Statistical Bulletin Series is a publication that provides data quarterly on the analysis of Nigeria’s foreign trade (HS Code 01 – 97), which is captured at customs entry points throughout the country by the Nigeria Customs Service and uploaded into the Nigeria Integrated Customs Information System (NICIS2).

The quantity and value of imports and exports of these raw materials and products categorized by their respective Double-Digit HS-Code are analyzed to derive key indicators of interest.

The publication addresses the country’s raw materials imports substitution/deletion, local utilization rates, and other key components of the economy such as employment, industry, exchange rate, etc,” the DG stated Prof. Nnanyelugo emphasized that the Quarterly Statistical Bulletin is more than a publication; he said it is a transformative tool for national development.

Stressing also that it shall provide comprehensive and meticulously analyzed data on Nigeria’s foreign trade, raw materials processing, and utilization rates and said it is critical for identifying trends, making informed decisions, and shaping the future of our industries.

Related Topics:Debuts Quarterly Statistical Bulletin Series RMRDC

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Naira Exchange Rates Friday, August 21

Published

42 minutes ago

August 21, 2026

OCHEFA

7 Views

BLACK MARKET RATES

US Dollar (USD) Buy ₦1,405 Sell ₦1,410

Great British Pound(GBP) Buy ₦1,890 Sell: ₦1,915

EURO (EUR) Buy ₦1,590 Sell ₦1,610

Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080

South African Rand (ZAR) Buy ₦75 Sell ₦90Ghana CEDI (GHS) Buy ₦95 Sell ₦110

West African CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

CBN Exchange Rates

US Dollar (USD) ₦1,374.63

Great British Pound (GBP) ₦1,838.70

EURO (EUR) ₦1,574.97

Swiss Franc (CHF) ₦1,687.70

Chinese Yuan (CNY) ₦200.42

Japanese Yen (Yen) ₦8.49

West African CFA (XOF) ₦2.37

West African Unit Account (WAUA) ₦1,848.41

Saudi Riyal (SAR) ₦358.91

South African Rand (ZAR) ₦83.35

Business

12-years after, US clears Nigerian vessels to land at its ports

Oyetola said that removal of the restriction by the USCG followed years of effort by Nigeria to meet international maritime security standards, particularly through the Nigerian Maritime Administration and Safety Agency (NIMASA).

Published

1 day ago

August 20, 2026

OCHEFA

22 Views

The Minister of Marine and Blue Economy, Adegboyega Oyetola, announced that the United States Coast Guard (USCG) has removed the Condition of Entry (CoE) imposed on Nigerian vessels from docking at its ports.

The CoE was first imposed in June 2014. Under the restriction, any vessel that had docked at designated Nigerian ports within its previous five port calls was required to meet additional security and documentation requirements before entering US waters.

The removal means those extra requirements no longer apply.Four USCG assessments between 2024 and 2026

He pointed to the country’s compliance with the International Ship and Port Facility Security (ISPS) Code as central to the case presented to US authorities.

The USCG carried out four separate assessments of Nigeria’s ports and maritime security framework between March 2024 and April 2026.

The inspections took place in March 2024, April 2024, March 2025 and April 2026. The government said each review recorded measurable progress.