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Business News of Friday, 8 January 2021

Source: www.ghanaweb.com

We’ve already incurred losses - Dr. Obeng reacts to Nigeria’s reopening of borders

The Nigerian government has finally opened its borders to neighbouring countries; including Ghana after several calls from the business communities on both sides and high profile authorities for a reversal of their previous decision to close same.

Though this should perhaps bring with it some form of relief, the president of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng thinks otherwise.

According to him, some GUTA members have already incurred losses as a result of the closure of the Nigerian border for nearly a year and half.

In an interview with GhanaWeb, Dr Obeng stated that, “Nigeria has realised they cannot live in isolation and due to the pressure by their business community for their country to open their borders. It’s a welcoming news, even though it does not trigger any excitement for those of us here in Ghana because we have already lost huge sums of capital as a result of the closure. Nonetheless, some manufacturing entities are going to benefit. Those who have their markets tied to Nigeria will have some benefits.”

He, however, lauded the Nigerian government for reopening their borders for trading to continue as this will help some GUTA members who solely depend on Nigeria for business to boom, cash in.

Nigeria’s land borders were closed to its neighbouring countries in August 2019.

The border closure was to prevent the smuggling of goods, especially rice and weapons into their country.

This has over the year had dire consequences on its neighbouring countries, including Ghana.

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