Border Closure Blessings to Nigerians, Creating Jobs, Says CBN Governor
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, Monday said that the closure of the nation’s borders has been creating jobs for Nigerians.
Emefiele said the closure of the border since August has been able to boost domestic trade and enhance the country’s economic policies.
Speaking to newsmen in Abuja, he said there was the need to get the countries affected by the closure to agree on some terms before the borders are reopened.
According to him, some businesses which had collapsed before the closure have suddenly become productive.
He gave example of the rice millers and members of the Poultry Association of Nigeria who have witnessed high sales following the border closure.
The CBN Governor said smuggling was a major problem that has affected the growth of local production.
He added that following the closure, businesses in rural areas have regained strength with farmers making a lot of sales.
He told newsmen, “About two weeks before the border closure, the chairman of the Rice Processors Association, incidentally, he owns Umza Rice in Kano, called me and said that all the rice millers and processors were carrying in their warehouses nothing less than 25,000 metric tonnes of milled rice in their warehouses; that this rice had been unsold because of smuggling and dumping of rice through the Republic of Benin and other border posts that we have in the country and that he would want us to do something about it.
“Secondly, we also have members of the Poultry Association of Nigeria who also complained that they have thousands of crates of eggs that they could not sell together with even some of the processed chickens that they could not sell, also arising from the problem of smuggling and dumping of poultry products into Nigeria.”
“Indeed, a lot of people have been depositing money in their accounts and they have even been telling them ‘please hold on don’t even pay money yet until we finish processing your rice.
“Poultry farmers have sold all their processed chickens and that demand is rising. So, when you asked, what is the benefit, the benefit of the border closure on the economy of Nigeria (I just used two products – poultry and rice) that it has helped to create jobs for our people. It has helped to bring our integrated rice milling that we have in the country back to business again and they are making money.
“We are not saying that the borders should be closed in perpetuity, but 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 smuggled into Nigeria.
“That engagement must be held so that we agree on the basis under which: what are the kinds of products that they can land in their countries because if they land those products in their countries, and it is meant for their own local consumption, it is understandable.
“But the fact that those products are landed in their countries and then trans shipment of smuggled items into Nigeria is something that I am sure you all agree as Nigerians we should not allow to happen because it undermines our economic policy. It undermines our own desire to make sure that industries are alive and jobs are created in Nigeria.”
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