UNIDO says 80% of World Trade is Supply Chains

Published

2 years ago

August 20, 2024

720 Views

The United Nations Industrial Development Organization (UNIDO) has called for a sustainable global supply chain as it now accounts for 80 per cent of world trade.”

Supply chains are essential to trade, and trade is essential to job creation but these supply chains must be sustainable,” said UNIDO.

In the latest document on ‘ Sustainable Supply Chains,’ posted on its website, the organisation noted that an estimated 450 million people are working in global supply chains.

Approximately 190 million of them are women. These jobs, working in the factories, farms and packing houses that supply the world’s clothing, goods and food, offer a promise of economic independence.

But the reality for millions of workers is excessive hours, often in difficult and unsafe working conditions, and wages that are not enough to make ends meet.

The exploitation of people and labour and the exploitation of the environment must not be the basis of our global economy.

We need fair global business practices and this requires companies to check human rights and environmental standards.

Companies must identify, bring to an end, prevent and mitigate negative impacts on human rights and the environment in the company’s operations, those of their subsidiaries and their supply chains.

This includes ensuring that their business strategy is compatible with limiting global warming to 1.5 °C in line with the Paris Agreement.

To save scarce resources, we need to improve sustainable supply chain operations and build a circular economy.”

Related Topics:Featured UNIDO World Trade Chain

Up Next

Elumelu unveils Ucee MFB

Don't Miss

Edun Explains Shift of Naira Crude Sale to Dangote till Oct 1

Click to comment

Naira Exchange Rates Wednesday, October 21, 2026

Published

6 minutes ago

October 21, 2026

OCHEFA

2 Views

Black Market Rates

₦1370 DOLLAR (USD)

₦1800 POUND (GBP)

₦1500 EURO (EUR)

₦970 DOLLAR (CAD)

₦65 RAND (ZAR)

₦350 DIRHAM (AED)

₦190YUAN (CNY)

₦100G.CEDI (GHS)

₦2300 CFA F.(XOF)

₦2200 CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD) ₦1333.65

POUND (GBP)₦1784.69

EURO (EUR)₦1497.29

SWISS FRANC (CHF)₦1619.88

JAPANESE YEN (JPN)₦8.44

CFA FRANC (XOF)₦2.28CBN

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1806.39

CHINESE YUAN (CNY) ₦199.70

SAUDI RIYAL (SAR)₦355.53

SOUTH AFRICAN RAND (ZAR)

Naira Exchange Rates Friday, October 16

Published

5 days ago

October 16, 2026

OCHEFA

50 Views

BLACK/ PARALLEL MARKET RATES

₦1370 DOLLAR (USD)

₦1800 POUND (GBP)

₦1510 EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

₦2300 WEST AFRICAN CFA F.(XOF)

₦2200 CENTRAL AFRICAN CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR AUSSIE (AUD)

CBN OFFICIAL RATES

DOLLAR (USD)₦1331.61

POUND (GBP)₦1764.26

EURO (EUR)₦1490.48

SWISS FRANC (CHF)₦1608.23

JAPANESE YEN (JPN)₦8.4

CFA FRANC (XOF)₦2.27

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1802.33

CHINESE YUAN (CNY)₦199.01

SAUDI RIYAL (SAR)₦354.83

SOUTH AFRICAN RAND (ZAR)₦80.49

WEF could appoint Lagarde as its next chair, sources say

The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of ⁠the matter.

Published

6 days ago

October 15, 2026

OCHEFA

55 Views

•European Central Bank President Christine Lagarde

The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider ‌reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.

Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.

No final decision has been taken yet, they said.

A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.