The Nigerian Economic Summit Group (NESG), has charged the Nigerian Government to speed up plans of reopening closed land borders.
The group in a statement titled “Matters of Urgency” said “expedite actions” should be taken on the “closed borders given its negative impact on trade and employment.”
Nigerian Government said the borders were closed to stifle smuggling of petroleum products and for security reasons., but NESG says the government should reconsider its stance.
President Muhammadu Buhari unexpectedly closed Nigeria’s borders to imported rice in August 2019, declaring the time had come to end rampant smuggling across the porous frontiers.
Weeks later, the Nigerian Government further announced a stricter measure by closing its land border to movement of all goods.
The government said all imports should come through the country’s ports where they can be monitored
more easily and generate much-needed revenue.
The measure led to the rise in the prices of food items and spiked inflation.
The closure also generated widespread criticism from officials of neighbouring countries who emphasised that the border closures go against all commercial and freedom of movement treaties signed under the Economic Community of West African States (ECOWAS).
NESG believes that once the AfCFTA is finally implemented Nigeria “will be one of the greatest beneficiaries of African and West African free trade.”
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