Nigeria and Malaysia recorded about $1.21bn in bilateral trade over five years, according to the Nigeria Customs Service.

Figures released by the agency show imports from Malaysia rose from approximately $106.6m in 2020 to around $477.3m in 2024, highlighting sustained growth in commercial exchanges.

Total trade between the two countries during the five-year period amounted to roughly $1.21bn.

The National Public Relations Officer of the NCS, Abdullahi Maiwada, said the increase reflects strengthening economic ties and continued efforts to enhance customs collaboration.

He added that the trend supports wider initiatives aimed at improving trade facilitation and regulatory alignment.

Maiwada said the latest engagement followed a visit by the Comptroller-General of Customs, Adewale Adeniyi, to the headquarters of the Royal Malaysian Customs Department during his participation in DSA Malaysia 2026.

He noted that the talks were held amid growing bilateral trade between both countries.

Adeniyi was received by the Director-General of the Royal Malaysian Customs Department, Dato’ Haji Amran bin Haji Ahmad, and both sides held discussions focused on customs modernisation, institutional collaboration, and coordinated border management systems aimed at boosting efficiency and compliance.

Maiwada said the two administrations recognised that despite their long-standing trade ties, there is no formal legal framework governing customs cooperation between Nigeria and Malaysia.

He noted that the absence of such an arrangement has become more evident as trade volumes continue to increase.

To address the gap, both sides agreed to initiate steps toward establishing a Mutual Recognition Agreement under the World Customs Organisation framework, to be advanced through diplomatic channels.

Maiwada said the proposed arrangement would enhance mutual trust and improve trade facilitation processes.

Adeniyi emphasised that the current scale of trade between Nigeria and Malaysia calls for a more structured customs partnership.

He described Malaysia as a significant trading partner, noting that Nigeria’s major imports include crude palm oil, refined palm olein, jet fuel, food products, machinery, and other industrial inputs.

He also highlighted Nigeria’s ongoing customs modernisation efforts, including the Authorised Economic Operator programme, designed to speed up clearance processes, reduce transaction costs, and strengthen compliance standards.