The United Kingdom’s tax authority, His Majesty’s Revenue and Customs (HMRC), and the Nigerian Customs Service (NCS) have identified the existence of significant discrepancies in bilateral trade data, with approximately £1.2 billion in mismatched trade figures, describing it as a structural issue requiring coordinated resolution.

This was disclosed at a high-level bilateral meeting held in London on Wednesday on the sidelines of the State Visit of President Bola Ahmed Tinubu to the United Kingdom under the framework of the Nigeria–United Kingdom Enhanced Trade and Investment Partnership (ETIP).

In a statement signed by the National Public Relations Officer of NCS, Dr Abdullahi Maiwada, both governments disclosed that official statistics for 2024 revealed a wide divergence in trade figures between the two countries.

Statistics made available at the meeting showed that while Nigeria recorded imports of UK-origin goods valued at approximately £504 million, the United Kingdom reported about £1.7 billion in exports to Nigeria in the period, highlighting a substantial mismatch in recorded trade flows.

To bridge the gap, the two agencies agreed to explore the establishment of a structured pre-arrival data exchange framework between their respective digital customs platforms.

The statement noted that the proposed system will enhance real-time information sharing and risk management processes, improve data reconciliation and strengthen compliance monitoring across both jurisdictions.

The Comptroller-General of NCS, Dr Bashir Adewale Adeniyi, and the Head of International Customs and Border Engagement at HMRC, Megan Shaw, led the bilateral engagement with further discussions centred on advancing customs modernisation, strengthening data transparency in bilateral trade flows and expanding operational cooperation between both administrations.

This is with a view to improving efficiency and integrity across the Nigeria–United Kingdom trade corridor.
Adeniyi emphasised that effective customs cooperation remains a critical enabler of economic growth and sustainable trade development.

He noted that Nigeria and the United Kingdom share a long-standing economic relationship supported by active trade across key sectors, including industrial goods, agriculture, energy, and consumer products.

The NCS boss further stated that customs administrations serve as the frontline institutions responsible for ensuring that trade flows between both countries are transparent, secure, and mutually beneficial.

According to the statement, the engagement further provided an opportunity for both administrations to present their respective customs modernisation programmes, including the United Kingdom’s advancements in artificial intelligence-driven trade tools, digital verification systems, and real-time analytics capabilities.

The statement noted that the discussions underscored the importance of deeper collaboration in technology deployment and digital border management.

The discussions also produced key outcomes, including the development of a Customs Mutual Administrative Assistance Framework, the commencement of technical scoping for capacity-building and knowledge exchange, and the establishment of a joint technical engagement mechanism under the ETIP framework.

Adeniyi reiterated the NCS commitment to deepening international partnerships as part of its broader modernisation agenda to promote transparency, efficiency and competitiveness in Nigeria’s trading environment.

He also assures stakeholders that insights from this engagement will strengthen its operational capacity, enhance trade facilitation, and support Nigeria’s economic reform objectives under the Renewed Hope programme.