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In a collaborative effort to streamline informal cross-border trade in Nigeria, the Raw Materials Research and Development Council (RMRDC) and the Nigerian Export Promotion Council (NEPC) hosted a one-day stakeholder engagement in Birnin Kebbi. This event, convened key industry companies, policymakers, and trade experts to explore strategies for formalizing and optimizing informal cross-border trade activities.
Mr. Saidu Abdulkadir, Kebbi State RMRDC Coordinator, opened the event by underscoring the significance of informal cross-border trade to Nigeria’s economy. He noted that despite its unregulated nature, this sector significantly contributes to job creation, poverty alleviation, and economic growth. Mr. Abdulkadir advocated for integrating informal traders into the formal economy to provide them with access to financial services, market information, and regulatory support.
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Mr. Danalkali, State Coordinator of NEPC, reaffirmed that both councils are dedicated to enhancing Nigeria’s export capabilities. He highlighted that formalizing informal cross-border trade would not only increase Nigeria’s export volume but also strengthen trade relations with neighboring countries. Mr. Danalkali emphasized the necessity of robust policies and infrastructure to facilitate smooth and efficient trade across borders.
The event included panel discussions, presentations, and interactive sessions where stakeholders shared insights and experiences. Discussions focused on the challenges informal traders face, such as limited access to finance, inadequate infrastructure, and complex regulatory requirements. Solutions such as capacity building, simplified customs procedures, and the creation of cross-border trade associations were proposed.
Mr. Kayode Falowo, President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), highlighted the private sector’s role in supporting informal traders. He called on businesses to collaborate with government agencies in providing training, mentorship, and financial support to these traders.
The engagement concluded with participants expressing optimism that the discussions would lead to actionable recommendations for policy formulation and implementation. They urged the government to prioritize the formalization of informal cross-border trade, recognizing its potential to drive sustainable economic development.
The event ended with a commitment from all stakeholders to work together towards creating an enabling environment for informal cross-border traders, ensuring their contributions to Nigeria’s economy are recognized and supported.
