Public Management

Nigeria’s Buhari orders reopening of borders with Benin, Niger, and Cameroon

Nigeria’s Buhari orders reopening of borders with Benin, Niger, and Cameroon
Thursday, 17 December 2020 14:59

Nigeria’s President Muhammadu Buhari ordered yesterday Dec 16 the immediate reopening of land borders with Benin, Niger, and Cameroon.

“President Buhari has directed the immediate opening of four land borders: Seme, Illela, Maigatari, and Mfun,” an official tweet by the Presidency indicated. This announcement comes as an end to more than a year of trade tensions between Buhari’s country and its neighbors, especially Benin.

In August 2019, Nigeria closed its land border with Benin to “fight against rice smuggling” and other products from outside that were flooding the Nigerian market. A few days ago, the Nigerian President said this measure was to some extent also aimed at controlling weapon and drug smuggling at borders. “Now that the message has sunk in with our neighbors, we are looking into reopening the borders as soon as possible,” he said.

However, some may believe that this new decision reflects a failure by the government to uphold the protectionist measures undertaken in recent years. If the government wanted to achieve food self-sufficiency through these measures, it’s obvious it missed its target. Rather, not only have the measures had immediate economic consequences, affecting even other countries in the region, notably Togo, they have also led to higher inflation in Nigeria, as commodity prices have soared considerably in the country. By November 2020, inflation had reached 14.9%, its highest level in nearly 3 years.

This border reopening does not guarantee a definitive resolution of trade tensions between the parties. In November 2019, a tripartite Benin-Niger-Nigeria committee was created to find solutions for the reopening of borders between these three countries. For the moment, the latter has not yet made any official comments, in the sense of a definitive solution to avoid the repetition of such a scenario in the future.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Guizhou Tyre plans a nearly $300 million tire plant in northern Morocco The factory will produce 6 million passenger vehicle tires per year The...
Fidelity Bank raised 259 billion naira, lifting eligible capital above CBN requirements First Bank of Nigeria also confirmed compliance after multiple...
Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC. The partners will convert 13 existing stores...
Ecobank Nigeria repaid about $245 million, or more than 80%, of its $300 million Eurobond due in February 2026. The early repayment reduced...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...

Ethiopia Secures Preliminary Eurobond Restructuring Deal With Private Investors
03

Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...

CEMAC Bloc Clears Way for Private Credit Bureau: New Implications for Regional Lending
04

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
05

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.