Central Bank of Nigeria governor, Godwin Emefiele has said the closure of Nigeria’s land borders by the Federal Government is yielding positive economic results for the country.
He said before the borders are reopened, “there must be concrete engagements with countries that are involved in using their ports and countries as landing ports for bringing in goods that are smuggling into Nigeria.”
Emefiele was reacting to complaints against the border closure from sections of the Nigerian economy and neighbouring countries. He spoke on Monday, October 28th after a meeting with President Buhari at State House in Abuja.
Nigeria closed its land borders in August, only three months after signing the African Continental Free Trade Agreement.
The government said the measure is to curb influx of smuggled goods from neighbouring countries such as Benin, Niger and Cameroon. The goods mostly involved are used cars, used clothes and rice.
Emefiele said there has been an “astronomical growth” in the number of rice farmers and local production of the commodity has increased “exponentially” in recent years.
