ECOWAS nations react to FG's border closure with devastating retaliative move
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.
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, MSC, 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 it was earlier reported that the federal government has given the go ahead for Nigerian borders to remain shut till January 31 next year, while also giving conditions neighboring countries would have to comply with before the borders will be reopened.