
Lagos Free Zone and CEVA Logistics have established a joint venture to enhance integrated logistics solutions in Nigeria and the broader West Africa region. The agreement, approved by Nigeria's Federal Competition and Consumer Protection Commission, grants CEVA Logistics a majority stake. This partnership combines CEVA Logistics' global network with Lagos Free Zone's strategic location and infrastructure, including Nigeria's Lekki Deep Sea Port. The collaboration will introduce the first global logistics leader-operated warehouse within the Lagos Free Zone, facilitating access to West African markets for multinational manufacturers. Adesuwa Ladoja, Chief Executive Officer and Managing Director, Lagos Free Zone, stated that the partnership aims to create a comprehensive solution for manufacturing and trade, building a logistics hub for West Africa. She highlighted that importers using the free zone warehouses at Lekki Port will benefit from duty-free exports to ECOWAS markets and reduced transit times through the Lagos Free Zone Green Channel, launched in February 2026. Jean-Baptiste Rambaud, Vice President, Air and Ocean Product at CEVA IMEA, emphasized the commitment to providing uninterrupted logistics services to global clients exporting to West Africa, noting that the free zone warehouse completes a seamless logistics journey for goods entering the region.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Must ReadThe Cocoa and Coffee Farmers Alliance Association of Africa COCEFAAA has identified persistent market volatility as a significant challenge to the sustainable development of Africa’s cocoa sector. Ahead of the cocoa & coffee fiesta Lagos, Nigeria 2026, scheduled for October 7 and 8, Global President, COCEFAAA, Adeola Adegoke, stated that unstable prices have negatively impacted farmers' income, productivity, and sectoral growth, despite Africa producing about 70 percent of global cocoa output. The association noted that cocoa-producing countries like Côte d’Ivoire, Ghana, Cameroon, and Nigeria often bear the brunt of market shocks. COCEFAAA emphasized the need for stronger collaboration among governments, industry players, and development partners to protect farmers’ incomes. The upcoming Fiesta aims to provide a platform for stakeholders to discuss solutions to challenges such as price volatility, market access, and sustainability. Discussions will cover income frameworks, de-commoditization strategies, agroforestry, carbon credit opportunities, integrated soil management, and compliance with the European Union Deforestation Regulation. The event will also mark the official launch of COCEFAAA as the first pan-African membership organization for cocoa and coffee farmers, with a mission to amplify farmers’ voices, promote sustainable practices, advocate fair pricing, improve market access, empower youth and women, and strengthen climate resilience.
Must ReadThe International Finance Corporation IFC and Standard Chartered Bank have introduced a $300 million risk-sharing facility to enhance access to supply chain finance for businesses across eight African countries, including Nigeria. This initiative aims to address funding shortages faced by firms on the continent. The program is projected to support supply chain and trade finance transactions totaling approximately $1.9 billion over the next three years, benefiting over 500 suppliers, including small and medium-sized enterprises SMEs. The facility will be implemented in Côte d’Ivoire, Egypt, Ghana, Kenya, Nigeria, South Africa, Tanzania, and Zambia, focusing on sectors such as agriculture, healthcare, and manufacturing. The IFC, the private sector investment arm of the World Bank Group, will provide guarantees of up to $150 million, with an initial commitment of $100 million, covering transactions in US dollars and selected local currencies. This risk-sharing structure will cover up to $300 million in supply chain and trade finance assets originated by Standard Chartered in Africa. The program will utilize financing tools like payables finance, receivables discounting, and pre-shipment finance schemes to improve working capital access for smaller businesses, ensuring faster payments for suppliers. Mohamed Gouled, IFC Vice President for Products and Clients, stated that supply chain finance is a rapid way to address the funding challenges in developing economies, particularly fo

George Ogbonnaya, FCMB's Senior Vice President and Divisional Head of Business Banking, states that Nigerian small and medium-sized enterprises SMEs require more than just access to finance to achieve sustainable growth. He emphasizes that critical drivers for growth include reliable infrastructure, such as electricity, efficient logistics, and robust digital networks, alongside skills development and digital transformation. Ogbonnaya highlights that energy costs, particularly, have a significant impact on operating expenses, leading FCMB to invest in renewable energy financing to help businesses reduce costs. He also points out the importance of improving logistics within Africa and providing affordable access to digital tools. Skills development, including management capabilities and specialized expertise, is crucial for entrepreneurs to scale successfully. FCMB, with its history of supporting Nigeria's economic development, aims to be a partner in businesses' growth journeys, especially during challenging economic periods marked by high inflation and rising operating costs. The bank offers tailored financial solutions, leverages alternative data and digital lending models, and seeks funding from development finance institutions to provide affordable financing options. Beyond financing, FCMB focuses on digital enablement, business development, and capacity building, training over 4,500 SMEs annually through various programs. The bank's Business Zone platform, expanded with

Former unified heavyweight champion Anthony Joshua stated he has no regrets regarding the damage inflicted on Jake Paul during their December 2025 heavyweight bout. Joshua, a British-Nigerian, responded to questions about Paul's potential retirement by saying, "I think that’s what was asked of me, and I think I delivered." He broke Paul’s jaw in two places in the sixth round of their fight in Miami, resulting in Paul having two titanium plates fitted and a professional record of 12-2. Paul has been inactive since, acknowledging the possibility of his boxing career ending. Joshua, speaking ahead of his July 25 fight against Kristian Prenga in Saudi Arabia, revealed he had a clear mandate for the Paul bout: "There was a strict message that was given, and a task that was laid upon me, and that was to get rid of Jake Paul and remove him from our beloved sport." He added that the job was "well and truly done." Joshua also credited the fight with reigniting his career after a year away from the ring following his September 2024 knockout defeat to Daniel Dubois. He noted, "A lot of people said, ‘That’s the guy we knew,’ and it felt good to be back." Shortly after the Paul fight, Joshua was involved in a fatal car crash in Nigeria as a passenger, which claimed the lives of two friends and team members, Sina Ghami and Latif Ayodele. His current focus is on Prenga in July, followed by an anticipated all-British showdown with Tyson Fury later in the year. Fury returned in April with a p