Nigeria’s Vice President, Prof. Yemi Osinbajo, has commented on the closure of Nigerian land borders.
The Vice President spoke on Tuesday while responding to questions from a cross-section of Norwegian investors at a round-table event at the Nordic-African Business Summit holding in Oslo, Norway.
Prof. Osinbajo said with the signing of the African Continental Free Trade Agreement, it was important for Nigeria to take important steps.
The VP explained that the closure was “to address issues bothering on smuggling and dumping of products imported through neighbouring countries.”
Prof. Osinbajo urged investors to take advantage of the friendly business climate in Nigeria to invest in key sectors of the economy.
In his Independence Day broadcast, President Muhammadu Buhari also gave reasons for the border closure.
He said: “We will also continue our fight against illegal bunkering of crude oil and the smuggling of refined petroleum products across our borders, including the diligent prosecution and conviction of offenders found guilty of these acts.
“Whilst Nigeria remains committed to free and fair continental and international trade, we will not hesitate to take all necessary steps to tackle illegal smuggling, transshipment and other predatory trade practices that destroy jobs in our country.”
