Traders in the Northern region are grappling with a staggering weekly revenue loss of N13 billion due to the border closures prompted by the Niger coup.
Ibrahim Dandakata, the chairman of the Arewa Economic Forum, stated this figure on Sunday, when he was shedding light on the severe economic impact of the closed borders.
GOOD EVENING NIGERIA reports that the Nigeria Customs Service on August 4 enforced the directive of President Bola Tinubu to close Nigeria’s border with Niger Republic.
The closure was a measure to demand the Junta in Republic of Niger to return power to democratic government.
However, Dandakata noted the critical role that informal trade plays within the region, particularly the trading of livestock and food items across the seven Northern states bordering Niger.
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He said the collective worth of these transactions accounts for a significant N177 billion.
He said the closure of the borders in the Northern region had substantial economic impacts on the livelihood of Nigerians.
Dandakata urged the federal government to open the maje-illo border in Kebbi to allow traders to bring goods to the country.
“Since the order by the President to close all the borders with the Niger Republic following the announcement of the coup, the consequences have been enormous. Northern traders lose N13bn weekly,” he said.
GOOD EVENING NIGERIA reports that the seven northern Nigeria states that share border with Niger Republic include Sokoto, Kebbi, Katsina, Zamfara, Jigawa, Yobe and Borno.