Muhammadu Buhari has revealed that the closure of Nigerian land borders for a limited period due to massive smuggling is already yielding positive results for the economy.
TONTRENDS reports that the President made this comment when he received a delegation from the Nigerian Association for Chamber of Commerce, Industry, Mines and Agriculture at the State House, Abuja, Nigeria’s capital, on Friday, September 20.
The online news platform understands that the delegation also comprised of the Federation of West African Chambers of Commerce and Industry and representatives of the Organised Private Sector.
Speaking on the closure of the Nigerian land borders, Buhari said it was necessitated by the lack of adherence to business ideals by various stakeholders which was detrimental to the country and its people.
According to him, “After many years of diplomacy and aggressive regulatory oversight which yielded few results, we decided to close our land borders for a limited time to assess the impact of this measure.
“Within a few short weeks, we are already seeing a decline in the volumes of counterfeit smuggled goods in some of our major markets across the country.
“This validates our action as a Government when we insist that the African Continental Free Trade Agreement must not only promote free trade but legal trade of quality made-in-Africa goods and services,” the President said.
The President stressed that everyone must play by the rule when it comes to trade and business activities that are central to Nigeria’s economic development.
The President maintained that his administration would ensure that the trade and business sector continues to flourish in job creation.
President Buhari urged the Association to continue its ‘‘positive and patriotic contribution’’ towards achieving a free trade area that employs Africans to produce quality made-in-Africa products.
”We will soon finalise the National Action Committee on the implementation of the African Continental Free Trade Area. Your Association is a member of this committee.
“I expect you to continue your positive and patriotic contribution to support us in achieving a free trade area that employs Africans to produce quality made in Africa products,’’ President Buhari said.