Business
Corruption Hinders Trade and Investment Growth in Nigeria — US Report
The United States government has stated that corruption continues to pose a major obstacle to trade and investment in Nigeria.
In its latest 2025 National Trade Estimate Report on Foreign Trade Barriers, the Office of the United States Trade Representative said corruption and lack of transparency in tender processes are of great concern to U.S. companies.
“U.S. firms experience difficulties in day-to-day operations as a result of inappropriate demands from officials for ‘facilitative’ payments.
“Efforts to strengthen anticorruption measures have been hampered by inter-ministerial infighting and partisan politics.
“Questions also remain regarding the Nigerian justice system’s capacity to achieve convictions and appropriate sentencing for corruption-related crimes.”
It also faulted Nigeria for the continued delay in approving import permits for American agricultural products, describing the situation as a longstanding trade barrier that has hindered access to the Nigerian market.
It said that despite repeated efforts to secure market access, Nigeria had not acted on several pending requests concerning food and agricultural imports from the US.
The US National Trade Estimate Report on Foreign Trade Barriers stated, “Since 2019, the United States has sought to negotiate import permits for the export of several categories of US food and agricultural products. Nigeria has been slow to approve these requests.” Festival, Nigeria, Ghana facing brain drain, others
The USTR noted that Nigeria’s weak capacity to review certificates, inspect goods, and conduct testing had contributed to long clearance delays, forcing many traders to rely on informal channels.
It also criticised Nigeria’s lack of consistency in applying sanitary and phytosanitary rules, saying this had created confusion among exporters.
“Nigeria is not consistent in the implementation of technical regulations and sanitary and phytosanitary measures, which can create confusion and undermine compliance,” it said.
The US government also took issue with Nigeria’s complex and restrictive import regime. It noted that while the country’s average Most-Favoured Nation applied tariff rate stood at 12 per cent in 2023, agricultural products attracted 15.9 per cent, and non-agricultural goods 11.4 per cent.
The report added that Nigeria imposes several supplementary charges that significantly raise the effective rate paid by importers.
“Nigeria maintains a combined duty plus other associated import fees of 50 per cent or more on 79 tariff lines. These include 17 tariff lines on which the combined duty plus other associated import fees reach or surpass the 70 per cent limit set by ECOWAS,” the report said.
It also criticised Nigeria’s continued import bans on 25 product categories, including poultry, beef, spaghetti, fruit juice in retail packs, used vehicles over 12 years old, soaps, and certain alcohols, describing them as barriers to trade.
“The Nigeria Customs Service continues to ban the import of 25 different product categories,” it added.
The report pointed to systemic problems in Nigeria’s customs administration, including corruption, manual processes, and inconsistent interpretation of trade rules.
“Importers report inconsistent application of customs regulations; lengthy clearance procedures, often due to outdated manual processing systems; and corruption,” the USTR stated.
It noted that although the Federal Government approved a $3.1bn customs modernisation project in 2020 to automate processes, the project had suffered delays and was now the subject of legal disputes.
On public procurement, the USTR said US companies face difficulties accessing government contracts due to a lack of transparency and contract payment issues.
It added that agencies often failed to comply with procurement guidelines, despite the requirement for a “Certificate of ‘No Objection’ to Contract Award” from the Bureau of Public Procurement.
“Nigerian Government agencies do not always follow procurement guidelines,” the report said. “Foreign government-subsidised financing arrangements appear in some cases to be a crucial factor in the award of government procurements.”
While acknowledging the passage of the Copyright Act, 2022, and other intellectual property reforms, the report said enforcement remained poor.
“Counterfeit goods, including pharmaceuticals, automotive parts, and other consumer goods, remain widely available in Nigeria and often threaten the health and safety of consumers,” it stated.
The USTR also raised concerns over digital trade restrictions, noting that the National Information Technology Development Agency Guidelines require all data concerning Nigerian citizens to be stored within the country.
It said these localisation rules, though not rigorously enforced, created uncertainty for businesses.
It noted that the Finance Acts of 2020 and 2021 introduced new taxes on digital services provided by foreign companies to Nigerian consumers.
“US companies have expressed concerns about the impact of the tax,” the report said.
It further criticised restrictions in Nigeria’s reinsurance and advertising sectors, including prohibitions on foreign participation in oil and gas risk reinsurance, and mandatory advertising registration with the Advertising Regulatory Council of Nigeria.
On foreign exchange, the report stated that despite the Central Bank of Nigeria’s move to unify exchange rates in 2023 and lift restrictions on access to forex for 43 previously barred items, challenges remained.
“Companies report that the approval process for the repatriation of funds remains a significant barrier to investment by US entities, as it is frequently subject to delays and denials,” it said.
It disclosed that out of an estimated $7bn in forex backlogs, only $4.6bn had been cleared by the CBN as of March 2024, while $2.4bn was still under review.
The USTR described Nigeria’s main ports, particularly Apapa in Lagos, as some of the most expensive globally, citing congestion, infrastructure issues, and maritime insecurity.
“The 30-day average delay to clear a container ship makes Apapa in Lagos among the most expensive ports for shipments from the United States,” it noted.
“While acknowledging the Federal Government’s establishment of the Ministry of Marine and Blue Economy and its efforts to enhance port efficiency, the report concluded that trade barriers and investment restrictions remain widespread in Nigeria.”
The National Drug Law Enforcement Agency has dismantled a transnational methamphetamine production syndicate jointly operated by a Nigerian drug cartel and Mexican collaborators, leading to the arrest of 10 suspects.
Also, illicit drugs and chemicals valued at over N480bn were recovered during the operation.
The Chairman and Chief Executive Officer of the NDLEA, Brig. Gen. Buba Marwa (retd.), disclosed this on Wednesday during a media briefing at the agency’s headquarters in Abuja.
Marwa said the operation, carried out by operatives of the agency’s Special Operations Unit, led to the discovery and shutdown of what he described as the biggest clandestine methamphetamine laboratory ever uncovered in Nigeria.
According to him, the laboratory was hidden in Abidagba forest in Ijebu East Local Government Area of Ogun State and was being operated by the Anochili Innocent Drug Trafficking Organisation.
He said the coordinated operation was conducted simultaneously in Ogun and Lagos states on Saturday, May 16, 2026, following months of intelligence gathering.
Marwa said, “Through a clinical, simultaneous operation executed by the elite operatives of our Special Operations Unit, we have successfully dismantled a sophisticated, transnational methamphetamine production syndicate run jointly by a Nigerian drug cartel and their Mexican counterparts.
“This network did not just traffic drugs; they were actively manufacturing industrial-scale quantities of highly lethal illicit substances right on our soil.”
He disclosed that seven members of the cartel were arrested at the forest laboratory, including three Mexican nationals allegedly brought into Nigeria to produce methamphetamine.
Marwa said the arrested Mexicans were identified as Martinez Felix Nemecto, 46; Jesus López Valles, 40; and Torrero Juan Carlos, 51.
According to him, Nigerian suspects apprehended at the site included Nwankwo Sunday Christian, 41; Igwe Abuchi Remijus, 42; Ifeanyichukwu Chibuike Joshua, 23; and Egwuonwu Uchenna Victor, 38.
Marwa added that another tactical team arrested the alleged kingpin of the cartel, Anochili Innocent, at his residence located at No. 8 Tafawa Balewa Street, Golf Estate, Lakowe, Lekki, Lagos.
According to him, a search of the residence led to the recovery of the passports and mobile phones of the arrested Mexican nationals, linking the suspect directly to their importation and activities in Nigeria.
He further revealed that follow-up operations on May 18 led to the arrest of another suspect, Kingsley Orike Omonughwa, 44, at another property linked to the cartel in Mayfair Estate, Lakowe, Lekki.
The NDLEA boss said operatives also raided the residence of another syndicate member, Emeka Nwobum, which allegedly served as the cartel’s stash house.
He said the total number of suspects arrested in connection with the syndicate had risen to 10, comprising the alleged baron, three Mexican nationals, and six Nigerian collaborators.
Marwa stated that the operation led to the recovery of 2,419.48 kilograms of methamphetamine and precursor chemicals.
“The operation yielded a massive 2,419.48 kilograms of chemical materials, including highly toxic, volatile, and crystallised methamphetamine worth $362,922,000 in the international market. This translates to over N480bn,” he said.
“Also recovered from the cartel include: a Toyota Tacoma vehicle used for operations at the clandestine meth laboratory, and a Toyota Highlander seized from the kingpin’s residence.
“To put this in perspective, the 2,419.48 kilograms of finished and liquid methamphetamine seized represents millions of street doses that would have flooded our local communities and international markets, causing untold destruction, psychosis, and violence,” he said.
Marwa warned that the NDLEA would continue to target drug cartels and their collaborators across the country.
“We are fully aware of the shifting tactics of these cartels, including the disturbing trend of hiring South American cartel specialists to set up production factories in our rural communities,” he said.
He urged Nigerians to remain vigilant and report suspicious activities in their communities, noting that the clandestine laboratory in Ogun operated under the cover of a regular farm.
This is came days after the operatives of the NNDLEA, Edo State Command, destroyed two cannabis farms in Ago Forest, Orhionmwon Local Government Area of the state.
The state commander, Mitchell Ofoyeju, in a statement on Monday, said the cannabis plantations had a yield of 1,388.42kg.
He added that four suspected drug traffickers were also arrested in the past one week.
The government of Togo has announced the removal of visa requirements for citizens of all African countries visiting the country for short stays of up to 30 days.
The announcement was made on Tuesday in a statement issued by Togo’s Ministry of Security through its official X (formerly Twitter) handle.
According to the ministry, the policy is aimed at strengthening African integration and promoting the free movement of people across the continent.
Under the new arrangement, African nationals holding valid passports will be permitted to enter Togo without a visa for visits not exceeding 30 days.
“Togo takes a historic step in strengthening African integration. Henceforth, all nationals of African states holding a valid national passport may enter Togolese territory without a visa, for a stay of up to 30 days,” the statement said.
It added that the reform reflects the commitment of the country’s leadership to making Togo a hub of openness, mobility and cooperation within Africa.
“Through this major reform, the President of the Council reaffirms his commitment to making Togo a space of openness, mobility, opportunities, and cooperation at the heart of the African continent,” it added.
However, travellers will still be required to complete an online travel declaration on the official government platform at least 24 hours before arrival to obtain a travel clearance slip.
The ministry said the policy reinforces Togo’s dedication to regional integration and stronger diplomatic and economic ties among African nations.
The decision follows similar visa-free initiatives adopted by countries such as Rwanda.
In a related development, the Nigeria government has also begun implementing a 30-day visa exemption policy for Rwandan nationals entering the country.
As the deadline of May 20, 2026, fast approaches, Wema Bank has announced the last call for submissions for children and teens interested in participating in becoming MD/CEO of Wema Bank for one day.
Launched in May 2025 as part of Wema Bank’s 80th anniversary celebration, the One-Day MD/CEO initiative was introduced by Wema Bank to commemorate Children’s Day in a uniquely unprecedented manner. Inspired by the Bank’s 80th anniversary theme “80 Years of Impact, A Future of Possibilities”, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.
As 12-year-old Chiderije Mbah emerged winner, the Wema Bank One-Day MD/CEO initiative dominated the conversation on May 27, 2025, with children across Nigeria inspired to put in the work towards a successful future and parents commending the Bank’s consistent commitment to empowering children and helping them build the right future. This year, 2026, the Wema Bank One-Day MD/CEO initiative has returned on a larger scale.
For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of Managing Director/CEO of Wema Bank, for a day. The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.
To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges winner and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day.
Both parents and teens are encouraged to hurry and make their submissions now as entry closes in less than two days, specifically on Wednesday, May 20, 2026.
More details on the Bank’s social media platforms @wemabank
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