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Nigeria's manufacturers welcome plan to reopen land borders
The Manufacturers Association of Nigeria says they welcome and commend the plans by the government to reopen the land borders. The association says its research shows that some sectors had a considerable increase in their productivity, while some others recorded a sharp decline. It has been over a year since Nigeria closed its land borders to check smuggling. Ambrose Oruche, Acting Director-General of The Manufacturers Association of Nigeria and Steve Osho, Co-Managing Partner at Comercio Partners join CNBC Africa for this discussion.
Mon, 30 Nov 2020 09:07:07 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The Manufacturers Association of Nigeria supports the government's plan to reopen the land borders, citing varied sectoral impacts since the closure.
- Challenges such as disrupted supply chains and increased production costs have been observed due to border closure, leading to calls for immediate reopening to all manufacturers.
- Recommendations include strengthening border security, enhancing trade information sharing with neighboring countries, and prioritizing renewable energy solutions to mitigate power supply challenges.
Nigeria's economy is at a critical juncture as the government considers reopening the land borders after a year-long closure aimed at curbing smuggling activities. The Manufacturers Association of Nigeria has welcomed this potential move, citing research that shows varied impacts on different sectors of the economy. Ambrose Oruche, the Acting Director-General of the association, highlighted the challenges faced by manufacturers since the border closure. Some sectors experienced a boost in productivity, while others suffered significant losses due to the inability to access raw materials from neighboring countries. Oruche emphasized the need for immediate action to reopen the borders to all manufacturers to revitalize the economy. He outlined recommendations for enhancing border security and fostering transparent trade practices. The association also addressed concerns regarding power supply and outlined initiatives to support members in transitioning to renewable energy sources for manufacturing processes. In a call to action, it urged the government to prioritize the reopening of the borders to facilitate trade and economic growth.
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