Mr Wale Adegbite, a former Chairman, Manufacturers Association of Nigeria (MAN), Ogun Chapter, has said that the closure of Nigeria’s land border had enhanced sales of locally produced goods in the market.
The borders were shut on Aug.20, 2019 due to economic and security threats.
Adegbite said that local companies now had a level playing field to compete with foreign goods imported into the country.
According to him, the closure of the border had stopped entry of goods into the country from the neighbouring countries without payment of appropriate duties, and, which thereby stifled sales of local goods.
Reacting to the Federal Government’s decision to extend closure of land border until January 31, 2020, former MAN chairman said that the decision was a welcome development.
” Our neighbours have not created a level playing field for manufacturers to operate as goods enter Nigeria through the land borders without payment of correct duties.
“Thus, creating a non-level playing field for manufacturers in the country and this affected their profit margins.” he said.
According to him, the closure of the border has resulted in less smuggled goods coming in from the land border.
He said that this development had generated more revenue for the country and the manufacturers could compete effectively with goods coming in through the ports, where proper duty is paid.
Adegbite advised the Federal Government to do all within its powers to protect industries in Nigeria.