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Nigeria-Malaysia trade don reach N1.82tn inside five years
Nigeria imports from Malaysia increase from N159.9bn for 2020 to N716.0bn for 2024, "with total trade value wey reach about N1.82tn over five-year period."
Nigeria-Malaysia trade don reach N1.82tn inside five years
Experts say palm oil na area wey di two kontris fit expand trade for / Reuters

Di value of trade between Nigeria and Malaysia don rise to N1.82 trillion for di last five years.

Di National Public Relations Officer of Nigeria Customs Service, Abdullahi Maiwada, wey be Deputy Controller of Customs, announce dis one for statement on Thursday.

Maiwada explain say Nigeria imports from Malaysia increase from N159.9bn for 2020 to N716.0bn for 2024, "with total trade value wey reach about N1.82tn over five-year period."

According to am, based on di commitment to strengthen international customs cooperation and make trade facilitation betta, di NCS don move forward with dia strategic engagement with di Royal Malaysian Customs Department.

E add say di engagement happen after di Comptroller-General of Customs, Adewale Adeniyi, pay official visit to di RMCD Headquarters while e dey for DSA Malaysia 2026 programme, and e say di engagement come as di trade between di two countries dey grow.

Maiwada point out say di Director-General of Royal Malaysian Customs Department, Dato' Haji Amran bin Haji Ahmad, receive Adeniyi.

E talk say di two leaders hold high-level discussions wey focus on institutional collaboration, customs modernisation, and coordinated border management frameworks wey go help improve efficiency and regulatory integrity.

E mention say both sides agree say dem no get formal legal framework wey dey guide bilateral customs cooperation, even though dem don dey do trade together for long time.

To fix dis problem, Maiwada stress say di two countries agree to start process wey go lead to Mutual Recognition Agreement under di World Customs Organisation framework, and dem go pursue am through proper diplomatic channels.

"Dis initiative go provide structured basis for cooperation, increase mutual trust, and support reciprocal trade facilitation measures," Maiwada stress.