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Nigeria Customs  and China Sign MoU to Boost Economic Growth

Nigeria Customs signs MOU with Chinese government
Nigeria Customs signs MOU with Chinese government

The Nigeria Customs Service (NCS) has inked a Memorandum of Understanding (MoU) with the General Administration of Customs of the People’s Republic of China.

The agreement, signed by the Comptroller-General of the NCS, Adewale Adeniyi, during a visit to the Shenzhen metropolis of China, is poised to strengthen import-export operations between the two nations and bolster opportunities for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.

Expressing appreciation to Vice Minister Wang Lingjun for the Chinese General Administration of Customs’ keen interest in the collaboration, Adeniyi highlighted the potential benefits for Nigerian businesses, particularly those leveraging e-commerce platforms.

Adeniyi underscored the strategic importance of the MoU in fostering cooperative security and trade relationships, emphasizing its role in setting supply chain security standards and promoting economic stability.

Acknowledging China’s significant trade presence in Nigeria, Adeniyi emphasized the need to address informal trade volumes while recognizing the mutual benefits derived from the trade partnership.

In response, Lingjun, represented by Sun Yuning, expressed satisfaction with Adeniyi’s vision and noted that the partnership between the two customs agencies would unlock opportunities for economic growth and trade facilitation between Nigeria and China.

The MoU signifies a pivotal step towards harnessing synergies between Nigeria and China, laying the groundwork for mutually beneficial economic cooperation and fostering a conducive environment for trade expansion and development.

This Article is Fact-Checked. See Policy.

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