Nigeria-Ghana border closures: Will a consensus be reached ahead of Reps meeting?
Representatives of Nigeria and Ghana will meet today to discuss possibilities of opening Nigeria's borders to traders from Ghana. Managing Director and CEO of Kairos Capital, Sam Chidoka joins CNBC Africa to discuss this and other stories making the rounds in Nigeria.
Mon, 04 Nov 2019 14:24:58 GMT
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AI Generated Summary
- Chidoka questions the effectiveness of the border closure in addressing smuggling activities and suggests alternative solutions
- Concerns raised about the negative impact on businesses and cross-border trade between Nigeria and Ghana
- Importance of economic partnerships between Lagos and Ogun states for regional development and growth
The ongoing border closure between Nigeria and Ghana has continued to spark debates and discussions within the region. The closure, initially scheduled to be resolved by January next year, has raised concerns about its impact on trade and businesses in both countries. Speaking on the matter, Sam Chidoka, the Managing Director and CEO of Kairos Capital, shared his insights on the issue during a recent interview on CNBC Africa. Chidoka questioned the rationale behind the border closure, emphasizing that smuggling activities are often conducted through informal channels rather than the formal borders. He suggested that addressing the root causes of smuggling and holding accountable those responsible within the government agencies would be more effective than a blanket border closure. He expressed his concerns about the negative impact of the closure on businesses that rely on cross-border trade, highlighting the challenges faced by both Nigerian and Ghanaian traders. Chidoka also discussed the potential for economic partnerships between Lagos and Ogun states, emphasizing the need for collaboration to enhance economic growth and address common challenges. Additionally, he commented on the recent recapitalization of the African Development Bank, stating that the increased capital would allow the bank to further support sustainable development initiatives across the continent, contributing to poverty reduction and infrastructure development.
