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Cross Border Trade Will Enhance Economic Growth – Customs

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Cross Border Trade Will Enhance Economic Growth – Customs—-An Assistant Comptroller of the Nigeria Customs Service (NCS), Clement Amaweh, has stressed the importance of promoting Cross Border Trade (CBT) to enhance Nigeria’s economic growth.

Amaweh, the officer-in-charge of Ohumbe Outstation, Yewa North, made the statement while delivering a lecture during the Festival of Art for Economic Development held on Tuesday in Idiroko, Ogun.

The News Agency of Nigeria (NAN) reports the programme is themed “Cross Border Trade: Why it Matters”.

Amaweh, a guest speaker at the event, explained that Nigerians needed to promote exports through CBT as a major source of foreign exchange (Forex) earnings.

He said this would help to control inflation and increase Foreign Direct Investment (FDI) as well as create employment for sustainable economic growth and development.

He observes that non-documentation of informal trade usually leads to revenue loss, and the absence of statistical data hinders forex earnings, distorting accurate trade records.

“The simplification and harmonisation of customs clearance procedure will encourage most cross-border traders to formalise trade activities through proper documentation and accurate declaration.

“Also, consistency in policy will significantly facilitate CBT and discourage smuggling,” he said.

Amaweh highlights the following as factors militating against CBT: difficulties in policies and porous borders, language and currency, among others.

Earlier, the Area Comptroller, Ogun 1 Area Command, Mr Mohammed Shuaibu, said in an increasingly interconnected world, CBT could be regarded as a bridge enhancing economic growth and promoting cultural exchange.

According to Shuaibu, partnership among nations enables businesses to reach broader markets, encourages innovation and enhances the availability of goods and services for consumers everywhere.

The programme organiser, Dr Bonny Abisogun, said the event was not only a celebration of art, but a reminder of the diverse cultural and economic landscapes for participants to navigate together.

Abisogun says CBT matters because it allows people to share their resources, ideas and innovations as well as strengthen their economies by creating jobs to enhance market access.

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BREAKING: Arsenal Defeat Chelsea 2-1 at Emirates to Extend Unbeaten Run

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BREAKING: Arsenal Defeat Chelsea 2-1 at Emirates to Extend Unbeaten Run—-The Gunners came from behind after Morgan Rogers’ early opener, with Kai Havertz and Martin Ødegaard completing a comeback victory to maintain Arsenal’s perfect start to the Premier League season.

Arsenal produced another statement performance at the Emirates Stadium on Sunday, coming from behind to defeat Chelsea 2-1 and maintain their perfect start to the Premier League campaign.

Chelsea stunned the home crowd after just 77 seconds, when Morgan Rogers fired Xabi Alonso’s side into an early lead. Arsenal, however, responded strongly and gradually took control of the contest.

Kai Havertz restored parity in the 25th minute against his former club, finishing Arsenal’s sustained pressure to make it 1-1 before the break.

The Gunners continued to dominate after the restart and completed the comeback through captain Martin Ødegaard, who struck early in the second half after Havertz’s clever movement helped create the opening.

Chelsea pushed desperately for an equaliser late on, but Arsenal goalkeeper David Raya produced a crucial save to deny Estêvão and preserve all three points for the hosts.

The victory means Arsenal remain on nine points from three matches, level with Manchester City at the top of the Premier League. Chelsea, meanwhile, suffer their first league defeat of the season and remain on six points.

For Mikel Arteta, the comeback further underlined Arsenal’s championship credentials. The reigning champions showed composure after conceding their first goal of the campaign and once again demonstrated their ability to respond under pressure.

Chelsea’s defeat will be frustrating for Alonso, particularly after his side made such a fast start. Despite their attacking threat, Arsenal’s control and defensive resilience ultimately proved decisive.

The result also extends Arsenal’s remarkable unbeaten run against Chelsea to 12 matches across all competitions, further strengthening the Gunners’ recent dominance in the London derby.

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BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day

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BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day—-Cityzens have reached a British record-equalling agreement with Chelsea for the Argentina international on Deadline Day, with Fernández set to undergo his medical.

Manchester City have agreed a £125 million deal with Chelsea to sign Enzo Fernández in one of the biggest transfers of Deadline Day.

The agreement, reported by Sky Sports and other leading outlets, will see the Argentina international leave Stamford Bridge for the Etihad Stadium in a move that matches the British transfer record previously set by Liverpool’s £125m signing of Alexander Isak.

Fernández is expected to undergo his medical before completing the transfer, with City working against the clock to finalise the deal before the summer transfer window closes.

Maresca Reunites With Fernández

The move will see Fernández reunite with Enzo Maresca, who previously coached him at Chelsea and is now Manchester City’s manager.

Maresca is understood to have been a major driving force behind City’s pursuit of the midfielder as he looks to reshape his squad and strengthen the centre of midfield.

Fernández played an important role during Maresca’s time at Stamford Bridge, helping Chelsea win major silverware before the Italian manager’s move to Manchester.

Chelsea Accept Record Fee

Chelsea signed Fernández from Benfica in January 2023 for approximately £107 million, making him one of the most expensive players in Premier League history at the time.

Just over three years later, Chelsea have agreed to sell the 25-year-old for £125 million, representing a significant return on their original investment.

The Argentine had recently been left out of Chelsea’s squad for successive matches, increasing speculation that his Stamford Bridge future was coming to an end.

City Make Deadline-Day Statement

Manchester City had been pursuing Fernández for much of the summer, but negotiations intensified dramatically as the transfer deadline approached.

Chelsea had previously valued their midfielder at around £120 million and had initially expected him to remain at the club after an earlier deadline for bids passed without a formal offer. However, City’s interest never disappeared, and the two clubs eventually found an agreement on Deadline Day.

The final £125 million package now puts Fernández level with the British transfer record.

Fernández Begins New Chapter

For Fernández, the transfer brings an end to a turbulent period at Chelsea and opens a new chapter under a manager he already knows.

The World Cup-winning midfielder arrived in England with enormous expectations after starring for Argentina and Benfica.

At Manchester City, he will be expected to become a central figure in Maresca’s midfield and help the club compete on multiple fronts.

A Record-Breaking Transfer

The £125 million agreement places Fernández among the most expensive players in football history and makes the Deadline Day transfer one of the biggest stories of the summer window.

City are now racing to complete the remaining formalities, including the medical, before the deadline.

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