11 December 2015 – unrecorded trade: Nigeria’s booming bordersPosted: December 11, 2015
There is a new report from Chatham House UK on the causes and consequences of unrecorded trade across the borders of Nigeria. According to one estimate, informal trade accounts for 64% of Nigeria’s GDP. Excessive and complicated bureaucratic procedures and illegal ‘taxation’ along formal trade routes that results in smuggling are attributed as key factors.
There are a number of insights into how these cross-border dynamics of informal trade affect Nigeria’s agricultural and food markets, with some examples from markets in Northern Nigeria.
The report, written by Leena Koni Hoffmann and Paul Melly, makes a number of recommendations for how Nigeria could encourage more formal trade.
You can read more and access the full report here