Nigeria’s Minister of Finance, Zainab Ahmed, has explained why the country’s land borders remain shut to her West African neighbours.
“It is important that the borders were closed at this time because of Nigeria’s commitment to AFCFTA (African Continental Free Trade Area),” Mrs Ahmed said.
The official said the failure of neighbouring countries to comply with the protocols they committed to upholding has negative impact on Nigeria’s economy.
Nigeria, in July, committed to the AFCFTA which “aims at creating a single continental market for goods and services, with free movement of business persons, investments and a single currency across the continent.”
The deal is expected to boost regional trade and allow companies to expand and enter new markets.
Speaking during the opening of a two-day public hearing on the 2020 budget on Tuesday, Mrs Ahmed also outlined gains Nigeria has made since it shut the entrances.
The official, who had blamed the closure on activities of Nigeria’s neighbours, said ”although there is an increase in revenue as the entrance remained shut, it is not the sole benefit”.
“The benefit of the closure of the borders is not only about revenue. Yes, we have seen incremental revenue but the reports we have seen also indicates that there has been enhanced security,” she noted.
“It means the porosity of our borders was allowing arms to come in as well as harmful drugs that affect us, especially our children.”
The busiest land crossing in Nigeria directly connecting to Benin Republic, Seme border, was partially shut in August, leaving thousands of people and vehicles stranded on both sides.
