Business

Will Trump Renew AGOA in September?

Talking about Nigeria’s participation and utilisation of AGOA preferences since the year 2000, the Nigerian-American Chamber of Commerce said in the past that Nigerian companies had not taken advantage of AGOA.

Published

2 years ago

March 5, 2025

OhiBaba

837 Views

The African Growth and Opportunity Act (AGOA) expires in September 2025, raising questions on the possibility of its renewal.

AGOA is a programme that allows eligible countries in sub-Saharan Africa to export 6,800 different products to the United States without paying tariffs or facing limits on the amount they can export.

It came into existence in the year 2000 when President Bill Clinton’s administration passed some specific trade laws, which included AGOA.

Its purpose is to assist the SSA economy to promote a free market system, stimulate economic growth and integrate into the global economy. AGOA was modernised and extended from 2015 to 2025.

However, a concerted effort was made last December to renew AGOA. American Senator James Ritch introduced a bipartisan Bill that would renew the trade pact for 16 years, extending it to 2041. John James also introduced legislation that would extend AGOA for 12 years.

Apart from differences over the time frames, the two bills were aligned in their support for an enhanced AGOA.

In 2023, Nigerian-born US Deputy Secretary of the Treasury, Wally Adeyemo, noted that Nigeria has not taken advantage of AGOA and urged entrepreneurs and start-ups to seize opportunity by selling their products and exploring ‘duty-free access’ to the US markets.

Analysts who spoke to The Guardian agreed that Nigeria has not benefited by not taking full advantage of the window.

A capital market analyst, Ola Adeyanju said that despite Nigeria’s strong fundamentals, lack of basic infrastructures has rendered the citizens powerless against exportation.

“Cost of production and lack of basic infrastructures are seriously working against exporters in this country,” he said.

Source: The Guardian

Related Topics:AGOA Featured Trump’s tariff

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

1 day ago

November 5, 2026

OCHEFA

108 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

OCHEFA

138 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.