Nigeria border crisis: Local businesses in Ashanti Region record US$3 million per-week loss – GNCCI

The Ghana National Chamber of Commerce and Industry (GNCCI) has disclosed that local businesses in the Ashanti Region, are currently losing about US$3 million a week due to the Nigeria border closure which is threatening a possible shutdown.

According to GNCCI, the revelation came when officials of the chamber took a tour of some selected companies in the business districts of the Ashanti Region.

Dr. Nana Appiagyei Dankawoso I, President of the Chamber, commended the business owners for their resilience in the face of the looming challenge.

He then assured the businesses that the border is expected to be reopened ‘sometime this week’ to allow passage of goods for Ghanaian traders that have been stranded for close to three months.

President of the Chamber also advised the businesses to explore new destinations and opportunities beyond Nigeria in order to remain relevant.

Nigeria’s decision to extend border closure to January 2020

On November 1, the Nigerian government announced its decision to shut its borders to all trade until January 31, 2020.

The extension which was approved by President Muhammadu Buhari is said to be a result of the ‘overwhelming success’ the closure has so far chalked in the face of the country’s economy and security.

According to Nigeria, the action taken was to express its displeasure at the attitude of the Beninoise traders who they alleged are smuggling rice illegally into Nigeria.