{"id":7980,"date":"2013-08-08T19:40:00","date_gmt":"2013-08-08T19:40:00","guid":{"rendered":"http:\/\/disnaija.com\/nigerian-newspapers\/afdb-commends-nigerias-ports-reform\/"},"modified":"2013-08-08T19:40:00","modified_gmt":"2013-08-08T19:40:00","slug":"afdb-commends-nigerias-ports-reform","status":"publish","type":"post","link":"https:\/\/disnaija.com\/afdb-commends-nigerias-ports-reform\/","title":{"rendered":"AfDB commends Nigeria\u2019s ports reform"},"content":{"rendered":"
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The African Development Bank (AfDB) said Nigerian Ports Reform Policy and its economic partnership with ECOWAS and European Union have enhanced its export drive.<\/p>\n

The bank said in a book, the African Economic Outlook, on Thursday in Abuja, that Nigeria\u2019s export to African countries currently stood at 11 per cent of its total exports.<\/p>\n

This notwithstanding, the bank said Nigeria had yet to tap into the huge potentialities in the region for growth, economic diversification and integration.<\/p>\n

The News Agency of Nigeria quoting the bank report said that the West African market provided a tremendous opportunity for the country\u2019s financial sector.<\/p>\n

The bank also observed that inflation rate, escalating budget deficits in some countries, rising wage bills and increasing domestic interest payments, among others, had hindered full monetary integration of the ECOWAS member states.<\/p>\n

It commended Nigeria\u2019s effort aimed at encouraging local manufacturing, insisting that the major challenge to manufacturing was poor trade network and infrastructure within the region.<\/p>\n

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Posted in Nigerian Newspapers. <\/a>A DisNaija.Com<\/a> network.<\/p>\n

Source: The Nation Newspaper<\/p>\n

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