Nigeria exports goods valued at $40bn informally every year, according to the Nigerian Export Promotion Council (NEPC).
Executive Director and the Chief Executive Officer of the NEPC Segun Awolowo revealed this in Lagos over the weekend.
It was when the President Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture, Chief Alaba Lawson visited him.
According to him, the council had earlier put such trade as $8bn yearly, but going by the calculation of the International Trade Centre in Geneva, goods worth over $40bn were informally exported.
Awolowo worried that this informal trade did not reflect on the economy and sought the NACCIMA’s collaboration to formalise the trade.