The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has applauded plans by the Federal Government to reopen the nation’s land borders soon.
The DG, NACCIMA, Amb Ayo Olukanni, explained that the planned reopening of the border would aid trade under the African Continental Free Trade Agreement. The border was shut on August 20, 2019, a move the Federal Government said was necessary to curb smuggling and boost local production of goods.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had told State House Correspondents after the Federal Executive Council meeting on Wednesday that the borders would soon be reopened.
She added, “Mr President has set up a committee that I chair, alongside the minister of foreign affairs and other ministers including interior and agencies such customs, immigration and other security services to review and advise him on the issue of border closure.
“The committee has just completed its work and we will be submitting our report. I have signed my copy; I gave everybody to sign between Wednesday and tomorrow Thursday so that we submit the report to Mr President.”
She noted that the President would make a formal pronouncement after receiving the report.
Reacting, the NACCIMA DG in a statement said, “The decision to reopen the land borders is really good news and in line with what NACCIMA has been advocating. As a major economic player in our sub-region, this will also help our image and decision to use trade across our borders, a tool to increase our foreign exchange and Gross Domestic Product.
“At a time of the search for strategic options to work our way out of recession, this is also good news. Also in the context of our ratification of the AfCFTA, this is a step in the right direction and an indication of our readiness to effectively trade under the agreement.