Tag
SUEZ CANAL
The World Trade Organisation (WTO) in its trade outlook for 2024 has projected that exports from Africa will increase at the fastest pace in 2024 by 5.3% when compared with other regions.
The naira depreciated marginally at the parallel market, as it closed at N486/$1.
The Suez canal is not the Strait of Hormuz, where some 21 million barrels — or $1.2 billion worth of oil pass through every day.
The naira appreciated against the US Dollar at the Investors and Exporters window on Monday to close at N409.13/$1.
Growing concerns have been raised about the effect of the World’s largest maritime hold-up on the global economy, and Nigeria may not be left out.
The massive ship that has blocked the Suez Canal for over a week has been partially cleared off the water way.