The Nigerian Export Promotion Council and the National Bureau of Statistics have signed a Memorandum of Understanding to improve the tracking and documentation of informal cross-border trade, which has cost the country up to $31.8m in unrecorded transactions.
The agreement, signed in Abuja, seeks to establish a framework for capturing export data from informal trade routes across the country.
This initiative comes amid revelations that over $31.8m worth of goods were informally exported in some months of 2024 without official records.
A statement by the NEPC Head of Corporate Communications, Ndubueze Okeke, on Wednesday, described the signing of the MoU as a significant step in plugging data gaps in Nigeria’s export records and improving policy planning.
Speaking during the signing ceremony, the Executive Director of NEPC, Nonye Ayeni, said informal cross-border trade is not a distant or marginal activity but a vital part of the economy that supports livelihoods, strengthens regional supply chains, and contributes significantly to national and continental economic resilience.
She disclosed that council offices across border states—including Kano, Jigawa, Kebbi, Zamfara, Katsina, Sokoto, Lagos, Ogun, and Adamawa recorded high levels of undocumented export activities.
