Nigeria and the UK are working to address a significant trade imbalance between the two countries. The discrepancy, valued at £1.2 billion, has been identified as a structural issue that requires coordinated resolution. A high-level meeting held in London on March 18, 2026, brought together officials from the Nigeria Customs Service (NCS) and HM Revenue and Customs (HMRC) to discuss the issue.
The meeting was part of the Enhanced Trade and Investment Partnership (ETIP) between Nigeria and the UK. In a statement, the NCS acknowledged the existence of gaps in bilateral trade data, citing a discrepancy between UK-origin goods recorded as imports into Nigeria and UK-reported exports to Nigeria. The NCS Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada, said available statistics indicated that while approximately £504 million in UK-origin goods were recorded as imports into Nigeria in 2024, the UK reported exports to Nigeria valued at approximately £1.7 billion for the same period.
To close the gap, the two countries agreed to explore establishing a structured pre-arrival data exchange framework between their respective digital customs platforms. This move aims to enhance risk management, improve data reconciliation, and strengthen compliance monitoring. The talks also focused on customs modernisation, transparency in trade flows, and operational collaboration.
The £1.2 billion trade imbalance between Nigeria and the UK is a stark reminder of the need for effective customs cooperation. The Comptroller-General of Customs, Bashir Adeniyi, is right to note that customs administrations play a critical role in ensuring that trade flows between countries are transparent, secure, and mutually beneficial. The UK's commitment to exploring a structured pre-arrival data exchange framework is a step in the right direction. However, Nigerians will be watching to see how this agreement translates into tangible benefits for the country's economy and businesses. The stakes are high, with the potential for increased trade and economic growth hanging in the balance.
