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Last updated: 19 May 2018 (TMO)

Nigeria And Norway Trade Volume Estimated Between $30-$40 Billion A Year

The Norwegian Ambassador to Nigeria, Jen-Peter Kjemprud, says trade volume between Nigeria and Norway is between 30 and 40 billion dollars.

Nigeria and NorwayKjemprud in his words said:

“The volume of trade between the two countries is so difficult to say because most of the trade is being done with multinational companies, but we estimate it to be between 30 and 40 billion dollars a year.”

According to him, the relationship between Nigeria and Norway dated back to 1880s. He therefore pledged to strengthen the relationship by attracting more investors from Norway to explore available opportunities in Nigeria.
In his words:
“Norway started to export fish to Nigeria in the 1880s and 1890; the relationship was cordial until independent. However, from the last ten or 20 years, it has grown substantially both politically and economically. We now have more than 50 and 60 Norwegian companies active in Nigerian oil and gas sector, sub-sea, onshore, renewable energy and some of which are expanding.
I think in the oil sector, there could be more reciprocating in investment and cooperation. Only this week, there is going to be a huge investment contract in service sector to be signed in Nigeria with Singaporean and Norwegian Companies.”

Nigeria & EU Bilateral Trade Volume Reach €25.3 Billion In 2017

The Head of EU delegation to Nigeria and ECOWAS, Mr. Ketil Karlsen has said that the bilateral trade volume between Nigeria and the European Union reached €25.3 billion in 2017.

In his words:

“About 25.3 billion Euro was traded in 2017. There is clear significant surplus in the benefit of Nigeria. Of the trade volume, around 50% more is actually benefitting Nigeria.”

Karlsen, while briefing newsmen in Abuja on the forthcoming Europe Day May 9, said this figure was an increase of 27% from that of 2016, which stood at €19.9 billion.

Chinedu Moghalu Appointed Head Of UN Communications For ARC

Chinedu Moghalu has been appointed Head, Communications & Advocacy for the Africa Risk Capacity; United Nations World Food Programme‎.

Chinedu MoghaluThe African Risk Capacity (ARC) is a specialised Agency of the African Union that provides African sovereigns with capacity building services for early warning, contingency planning and risk finance.

The agency ‎is also a specialised Agency of the African Union that provides African sovereigns with capacity building services for early warning, contingency planning and risk finance towards protecting the livelihoods of their vulnerable citizens against the impact of natural disasters through home-grown, innovative, cost-effective, timely and sustainable solutions.

Muoghalu in his new position, will be leading efforts to ensure that the work of ARC in responding to the challenges of climate change and natural disaster risk management is strategically communicated to the Member States and the international community in a way that secures commitment and boosts resource mobilization.

Chinedu Moghalu holds a M.Sc. degree in Communications for Development, and other degrees in Political Science, and Law from University of Nigeria, Nsukka and University of Lagos, in Nigeria. Moghalu, at various times, served as the Regional Head of Nigerian Export-Import Bank (NEXIM) for the Southeast and Delta states in Nigeria; as well the Head of the Corporate Communication Division at its headquarters in Abuja. Before joining NEXIM Bank, Moghalu had more than 10 years career with various United Nations agencies, including the ILO and the Global Fund for AIDS, Tuberculosis and Malaria.

Moghalu is a member of the Nigerian Bar Association, International Bar Association, International Public Relations Association (IPRA), and sits on the Board of the Chigari Foundation.

Bola Adesola Appointed Vice-Chair Of UN Board Of Global Compact

Bola Adesola, Chief Executive Officer and Managing Director of Standard Chartered Bank Nigeria, has been appointed by the UN Secretary-General Antonio Guterres to serve as Vice-Chair of the Board of the UN Global Compact.

Bola Adesola

Also appointed to serve as Vice-Chair of this Board with Bola Adesola is Mr. Paul Polman of the Netherlands, Chief Executive Officer of Unilever.

Global Compact is a voluntary initiative based on Chief Executive Officers commitments to implement universal sustainability principles and to take steps to support UN goals.

According to the UN:

“Ms Adesola and Mr. Polman succeed out-going United Nations Global Compact Board Vice-Chair, Sir Mark Moody-Stuart, Former Chairman of Royal Dutch/Shell Group of Companies and of Anglo American PLC.

The Secretary-General extends his great appreciation to Sir Mark for serving in the position for the past 10 years and shepherding the United Nations Global Compact into a new era. They would bring to the position a wealth of experience in the private sector, in the corporate sustainability space and specifically with the United Nations Global Compact itself.

As Chair of the Board of the United Nations Global Compact, the Secretary-General looks forward to working closely with Ms Adesola and Mr Polman. Along with United Nations Global Compact Executive Director, Lise Kingo, as they lead the United Nations Global Compact, the entry point for business within the broader United Nations system.”

Adesola had served as Chief Executive Officer and Managing Director of Standard Chartered Bank Nigeria Ltd since 2011. She  has over 25 years of banking experience, including at First Bank of Nigeria and at Citibank. Adesola holds degrees from Harvard Business School and Lagos Business School, as well as a law degree from the University of Buckingham.

Polman had served as Chief Executive Officer of Unilever since 2009. Prior to joining Unilever, he worked at Nestlé S.A., and at Proctor and Gamble, where he spent 26 years. Polman holds degrees from the University of Groningen and from the University of Cincinnati.

Both Adesola and Polman had served on the Board of the United Nations Global Compact previously.