The Nigerian Export Promotion Council (NEPC) has reported that the National Onion Producers, Processors and Marketers Association of Nigeria (NOPPMAN) indicates over 1.6 million bags of onions were informally traded to Ghana, Cote D'Ivoire, Benin, Cameroon, Congo, and Niger Republic. This was disclosed by NEPC Executive Director/CEO, Nonye Ayeni, during the signing of a Memorandum of Understanding (MoU) between NEPC and the Nigerian Bureau of Statistics (NBS) to enhance data collection from Informal Cross Border Trade.
Ayeni highlighted that these transactions are not reflected in national export trade statistics, affecting economic planning. She stated, "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 emphasized that the MoU represents a step in Nigeria's effort to enhance export trade by capturing informal sector data. "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," she noted.
Source: Blueprint
