Nigeria and the United Kingdom have begun moves to resolve a £1.2 billion gap in their trade records, as both countries deepen cooperation on customs processes and digital data exchange.
Following a top-level London conference on March 18, 2026, under the Nigeria-United Kingdom Enhanced Trade and Investment Partnership during President Bola Tinubu’s state visit, the efforts of HM Revenue and Customs and Nigeria Customs Service officers acknowledged that differences in trade statistics remain a structural problem demanding collaborative action.
Data from opposite directions show a clear incompatibility. Although British figures placed exports to Nigeria at about £1.7 billion for the same period, Nigeria reported about £504 million in imports from the UK in 2024.
Both nations are considering a pre-arrival data exchange mechanism between their electronic customs systems to address this issue. The aim is to improve trade reporting consistency, enhance compliance monitoring, and increase transparency.
The News Chronicle understands that the push for closer customs cooperation mirrors a broader drive to update Nigeria’s trade infrastructure and to match international standards, particularly as digital systems and data accuracy take centre stage in worldwide trade.
Talks also covered the use of advanced tools, including artificial intelligence-driven analytics and digital verification systems, with both sides agreeing to expand technical cooperation and knowledge sharing. Officials say the move is expected to boost trade efficiency and support long-term economic growth between both nations.
