Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Environment
    • Community Development
    • Renewable Energy
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria, UK move to fix £1.2bn trade data gap

    Nigeria, UK move to fix £1.2bn trade data gap

    March 23, 2026
    Share
    Facebook Twitter LinkedIn WhatsApp
    *President Bola Tinubu with Prime Minister Kier Starmer

    Mkpoikana Udoma

    Port Harcourt — Nigeria and the United Kingdom have intensified customs cooperation in a move aimed at boosting trade efficiency, closing a significant data gap, and accelerating digital border management between both economies.

    The Nigeria Customs Service, NCS, and the United Kingdom’s His Majesty’s Revenue and Customs, HMRC, reached the agreement during a high-level bilateral meeting in London, held under the Nigeria–UK Enhanced Trade and Investment Partnership, ETIP.

    At the heart of the discussions is a striking discrepancy in trade figures between both countries. While Nigeria recorded about £504 million worth of UK-origin imports in 2024, the UK reported exports to Nigeria valued at approximately £1.7 billion for the same period.

    The NCS in a statement said resolving this £1.2 billion gap is critical to improving transparency, compliance, and revenue assurance.

    To address this, both sides agreed to explore a structured pre-arrival data exchange system linking their digital customs platforms.

    “This will enhance risk management, improve data reconciliation, and strengthen compliance monitoring,” the statement said.

    The Comptroller-General of Customs, Bashir Adewale Adeniyi, who led Nigeria’s delegation, according to the statement, underscored the economic importance of the partnership.

    “Effective customs cooperation remains a critical enabler of economic growth and sustainable trade development,” Adeniyi said, noting that both countries share strong trade ties across industrial goods, agriculture, energy, and consumer products.

    The meeting also focused heavily on digital transformation, with the UK showcasing advanced tools including artificial intelligence-driven trade systems, digital verification platforms, and real-time analytics.

    Both countries agreed to deepen collaboration in deploying such technologies to modernize border operations and improve efficiency.

    Key outcomes from the engagement include plans to develop a Customs Mutual Administrative Assistance Framework, initiate technical cooperation on capacity building, and establish a joint technical engagement mechanism under the ETIP platform.

    The NCS said the partnership aligns with its broader modernization agenda and Nigeria’s economic reform drive.

    “The Service reiterates its commitment to deepening international partnerships to promote transparency, efficiency, and competitiveness in Nigeria’s trading environment,” the statement added.

    Related News

    AFC backs $7bn Dangote Fertiliser expansion

    Nigeria’s company tax revenue drops 31% despite mining strength

    Domestic gas sales jump 30% as reforms strengthen market confidence

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    AFC backs $7bn Dangote Fertiliser expansion

    June 15, 2026

    Oil falls 5% to three-month low as US, Iran reach peace deal to reopen Strait of Hormuz

    June 15, 2026

    Pipeline vandalism surges as NNPC records fresh attacks in North Central

    June 15, 2026

    Nigeria’s company tax revenue drops 31% despite mining strength

    June 15, 2026

    Ibom FZE supports host community pupils, education

    June 15, 2026
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2026 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.