Nigeria-Malaysia Trade Reaches N1.82 Trillion in Five Years

According to a statement from Abdullahi Maiwada, Deputy Controller of the Nigerian Customs Service, Nigeria's trade with Malaysia has accumulated to approximately N1.82 trillion over the past five years. The report highlights an increase in Nigeria's imports from Malaysia, rising from N159.9 billion in 2020 to N716 billion in 2024.

Maiwada emphasized the importance of strengthening international customs cooperation and enhancing trade facilitation. During a recent engagement with Adewale Adeniyi, the Comptroller General of Customs, and Dato Haji Amran bin Haji Ahmad, Director General of the Royal Malaysian Customs Department, discussions focused on establishing a mutual recognition agreement framework under the World Customs Organization.

This initiative aims to formalize customs partnerships and improve regulatory efficiency. Notably, Malaysia remains a significant trade partner for Nigeria, with key imports including crude palm oil and machinery.

The Nigerian Customs Service is committed to enhancing bilateral partnerships as part of its modernization agenda.