The Nigerian Export Promotion Council (NEPC) has disclosed that reports from the National Onion Producers, Processors and Marketers Association of Nigeria (NOPPMAN), reveal that over 1.6 million bags worth of the commodity were traded informally to neighbouring countries such as Ghana, Cote D Ivoire, Benin, Cameroon, Congo, and Niger Republic.
Executive Director/CEO of NEPC, Nonye Ayeni at who revealed this when the NEPC and Nigerian Bureau of Statistics (NBS) signed a Memorandum of Understanding (MoU) that will facilitate data collection from Informal Cross Border Trade.
Regrettably, she noted that these impressive achievements were not captured in the national export trade statistics thus portending real implications for economic planning for the country.
According to her “It weakens Nigeria’s voice in regional and global trade negotiations, it denies informal traders the recognition and support they need to thrive as well as diminishes Nigeria’s economic potential, especially the vital contributions of women, youth, and MSMEs”.
Ayeni pointed out that the event marked a major turning point in Nigeria’s quest to grow its export trade through the capturing of data in the informal sector.
“Existing trade data primarily capture activities within the formal sector, offering limited visibility into informal export trade transactions, despite their significant volume and economic impact.