• Monday, May 13, 2024
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Niger: Northern traders reports N13bn weekly loss

Niger: Northern traders reports N13bn weekly loss

The closing of regional borders owing to the ongoing conflict in the Niger Republic has caused a loss of roughly N13 billion every week, which northern traders have bemoaned.

The closing of all crossings with the Niger Republic was ordered by Bola Tinubu, Nigeria’s President on August 4, following sanctions by ECOWAS.

Nigerian Customs is presently enforcing this order. Jibiya in Katsina State, Illelah in Sokoto, and Maigatari in Jigawa are the bordering areas.

Ibrahim Yahaya Dandakata, chairman of the Arewa Economic Forum, in a press conference on Sunday in Abuja, said that the closure’s financial effects are becoming intolerable for traders and urged the federal government to reopen the Maje-Illo border in Kebbi so that they can import goods.

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“Since the order by the President to close all the borders with Niger Republic following the announcement of the coup, the consequences have been huge. Northern traders loss N13bn weekly.”

“Trade between Niger and Nigeria is usually informal especially in perishable goods and only last year alone, it is estimated at about N177bn in goods and services like livestock and food items”

“Therefore, further closure of the border will be detrimental to the huge trade going on between these two countries.”

“We hereby appeal to President Tinubu to open the maje-illo border in Kebbi state to enable traders bring in their goods into the country and empower customs to collect import duty thereafter,” he stated.