Border Closure: 98 Companies Relocate To Other Countries, Others Lose Millions

Sade AdewaleOctober 30, 2019

0 3 minutes read

No less than 98 companies operating in Nigeria have relocated to other countries in West Africa in the past three weeks, while others have lost millions of naira and are near collapse because of the closure of Nigerian land borders .

As the impact of the closure of Nigerian land borders continues to bite, Comrade Saviour Iche, the national president of the Association of Micro-Entrepreneurs of Nigeria (AMEN), made the disclosure while speaking at a press conference in Lagos at the weekend.

He stated the said the companies moved to other countries because of the negative impact the border closure was having on their businesses, adding that many others will follow suit if the situation persist.

He said that operating environment in other countries in west Africa are better, adding that governments of other countries offer incentives and support to entrepreneurs.

He said the closure of the borders has had some positive effect like increased revenue for the government, but argued that the negative impact was greater on the general economy.

According to him, there are many Nigerian businesses that export their goods and services across Nigerian borders, adding that most of these companies are losing millions of naira on a daily basis.

READ ALSO: BREKING: Appeal Court sacks Tambuwal, Sokoto APC Reps, Others

Iche disclosed that many of them have reduced their operations and their number of workers, adding that if the situation continues, many of them will close shop soon.

Meanwhile, Newsflash247 had earlier reported that Gani Adams, the Aare Onakakanfo of Yorubaland has exposed the closure of the Nigeria borders was suspicious that borders in the north are still operating conveniently without anybody blinking an eye.

Adams urged the Federal government to fix the Lagos – Badagry road, saying such move will boost the Nigerian economy and further expose the tourism potentials of Badagry as a whole.

Speaking during the 2019 edition of the Olokun Festival in Badagry, Adams expressed worry over the closure of the Nigeria – Benin border,insisting that the closure of the border was suspicious, with huge implications on the entire Southwest.

“The road leading to Badagry town and its environs are in deplorable stage and nobody even cares.For the past seven years, this town had been abandoned with little facilities I have said it severally that this road is bad.The road has become death traps for commuters plying the road daily. For instance, traveling between Badagry and Mile 2 has always been an unpleasant experience these days.Imagine the kind of impression this would have on foreigners and tourists coming through west African coast to Badagry”,he said.

The Yoruba leader, also lamented that the closure of the border will definitely affect the people in the South than any other regions.

“It is unfortunate that the Nigeria – Benin border had to be shut, however, the closure seems suspicious to me because the borders in the North still operate conveniently without anybody blinking an eye. This portends grave danger to us as a people because the economic implications of the border closure will largely affect us more in the southwest than any other regions.

He, however, urged the Federal government, to as a matter of urgency, re-open the border and make sure that the necessary arrangements are made to forestall illegal smuggling of rice and other valuables into the country.

” We can reduce the unlawful smuggling of rice and other items into the country. It involves proper planning and documentation from the Nigerian government and the officials, including the Immigrations and the Customs must be up and doing in ensuring that the law is effective.”

Iba Gani Adams also appealed to the southwest governors to join him in projecting the cultural identity of the Yoruba race to the world

His words, :” Through cultural festivals such as this, we can gradually begin to change the narratives. We can begin to project the image of our country positively to the world. Therefore, I am making a clarion call to all Yoruba sons and daughters to continually promote the policy thrust and development agenda of the OFF.”