- The member nations in the Economic Community of West African States (ECOWAS) have started rejecting goods from Nigeria following the country's border closure
- The nations said that Nigeria's decision to close all its land borders was crippling their businesses
- The head of the Institute of Export Operations and Management (IEOM), Ofon Udofia, said that the move by the ECOWAS nations was negatively affecting the private sector
There are indications that Nigeria might suffer some economic consequences following the federal government's closure of all land borders.
This is as nations of the Economic Community of West African States (ECOWAS), according to Obiora Madu, the head of Multi-mix Academy, an export-oriented institution, have started rejecting Nigerian goods in their territories.
Vanguard reports that Madu revealed to journalists that the ECOWAS nations are making the retaliative move against Nigeria because the border closure is negatively affecting their businesses.
He said: “It is definitely impacting negatively on the economy as the exports done within the ECOWAS region and our neighbouring countries are now in decrease."
Moreover, the chief executive officer of Institute of Export Operations and Management (IEOM), Ofon Udofia, said that both the public and private sectors are losing a lot of money since the country so far does not have any national vessel to ply the Western coast if it chooses to solely rely on its waterways.
Udofia said: “Even when they say we can make use of the sea, do we have vessels? We don’t have vessels plying the West Coast or even a vessel that can carry the volume of what we are exporting.
“Even Maerskline Shipping Company, or any other international shipping line that will pick products from Nigeria and take it to these West African countries must charge extra fees."
Meanwhile, Legit.ng reported that the House of Representatives had reacted to the ban on the supply of petroleum products to border communities issued by the Nigeria Customs Service (NCS).
The House called on the NCS to call off the ban on the grounds that the decision has led to much hardship to not just those communities but also to other Nigerians.
Border closure: Nigerians now prefer eba to rice – traders lament | Legit TV