isthatso:


No, China locked it's border for years which forced the Chinese to look inward and develop its own industries. The problem with Nigeria is we dont like short term pain for long term reward.


Any nation with a huge population that wants to truly grow must first develop and give advantage to it's own industries before allowing foreign competition.


When a country like Vietnam is lobbying to open our borders, it tells you how much of their economy and jobs is tied in producing rice for Nigeria. We no get farmers, we no get land?

Jimi24:


Its not just a thought. It is fact. Anchor Borrower Program loan defaults are high. The higher prices will push more educated people and financially literate people unto rice farming.
Aside from this, with high rice prices, people will partially shift to substitutes like yams, millet and cassava products. Those substitutes' prices will go up.and more people will invest in farming and its value chain.
This border closure will transform Nigerian economy. The people that will lose are the people that gained during PDP - lazy, city dwelling, middle class office workers. Unless they invest in.agro allied sector through crowd funding or direct participation

Empredboy:
LAGOS – As the impact of the closure of Nigerian land borders continues to bite, more than 98 firms operating in the country have relocated to other countries in West Africa in the past three weeks, while others have lost millions of naira and are near collapse.

Comrade Saviour Iche, the national president of the Association of Micro-Entrepreneurs of Nigeria (AMEN), made the disclosure while speaking at a press conference in Lagos at the weekend.

He stated the said the companies moved to other countries because of the negative impact the border closure was having on their businesses, adding that many others will follow suit if the situation persist.

He said that operating environment in other countries in west Africa are better, adding that governments of other countries offer incentives and support to entrepreneurs.

He said the closure of the borders has had some positive effect like increased revenue for the government, but argued that the negative impact was greater on the general economy.

According to him, there are many Nigerian businesses that export their goods and services across Nigerian borders, adding that most of these companies are losing millions of naira on a daily basis.

Iche disclosed that many of them have reduced their operations and their number of workers, adding that if the situation continues, many of them will close shop soon.

https://www.independent.ng/border-closure-98-firms-relocate-others-lose-millions/?fbclid=IwAR3mTW7Mb8pnzStjx9YU89kEBHEV2CR3fgq6YYyJ63tv7aD2i6WBCH75e7A

chriskosherbal:
Can we please know the names of the firms and what they are producing as this will go a long way in getting a good understanding of the issue at hand.

seunlayi:
Buhari closed borders but he is going to UK for private holiday. Nigerians, can't you see that we have bn duped? This is epic compared to yahoo boys

Afamed:



Below is a list of some of the big companies/organisations that folded up between 1999 and 2015 when PDP was in charge:

Osogbo Steel Rolling Company
NITEL
Nigerian Airways
NICOMTEX
Kaduna Textile Mill Ltd
Peugeot Assembly Plant
Leyland Motors
Nigerian Shipping Company
Bacita Sugar Company
Union Dicon
Michelin
Dunlop
Nigerchin
Jebba Paper Mill
Iwopin Paper Mill
Anamco
Volkswagen

No one knows the number of smaller companies that went under and the number of big ones that would have been added to this inglorious list if they had continue especially whrn oil price fell as low as $29 per barrel.
Can you forward the list of those that closed during PMB regime 2015 till date?

Asquare84:
dont mind them did the border closure include export from nigerian

chriskosherbal:
Can we please know the names of the firms and what they are producing as this will go a long way in getting a good understanding of the issue at hand.

americaninja1:
Dunlop Nigeria Plc and Michelin had relocated to Ghana. Patterson Zochonis (PZ) is also planning to relocate to Ghana, even as Cadbury Nigeria Plc, Unilever and the International Institute of Tropical Agriculture (IITA) this year, sacked sizeable number of their workers over reported high cost of production, decaying infrastructure.I will prefer to have my industry in an enabling environment where i can get access to my raw material at a cheaper rate through seaport. Togo doesnt have oil or gas they survive on importation to enable industries an access to their imported raw materials. U dont know aw economy work. Like what Sheik of UAE said Lets Build it first and they will surely come. What are we building? So u think Nigeria population is an asset to the industry, population dat 70% is surviving on less than a dollar per day. I rather go 4 20people with money than 10,000 with nothing.

paix:
Maybe you were in a hurry to respond and you didn't notice where I said RICE ETC. Read again. By the way, are the prices of the food items you listed still the same?

Mcreloaded:
I pray.

Super story, where will they relocate to when the market is here in Nigeria and those that left when Nigeria was in recession are now regretting it and are looking for ways to come back.

My own take is that this border closure should have happened at the early stages of planting season to prepare farmers to farm more lands and cultivate more rice farms, and secondly government should do something urgently about electricity as it is one of the major reasons industries relocated to Ghana in the first place and electricity availability will bring more industries to come to Nigeria as we have the population and petro dollars which makes Nigeria a strong market.

Wallade:


I strongly believe border closure negates the functionality of free-market system and Nigeria's economy isn't self sustaining and has no immediate potential to sustain itself just yet. It has created artificial scarcity and food inflation especially because local farmers can't meet the local demand for rice and some other food. The farmers capacity should have been developed gradually till we get to level of sufficiency.

If my suspicions earlier stated are true, then government and CBN are trying to make Nigerians pay for the bad loans while they share the returns on the super profit with farmers.

Though I feel the neighbouring countries must respect the desire of the government of Nigeria to prevent smuggling, dumping of goods and protect economy. We must also encourage international trade for balance of payments.

vaxx:
You people mention China to defend the closure of the border as if China and Nigeria are having the same economic fundamental model or all economic principle are equal in both nation. China was never poorly industrialized like Nigeria, it has history that is over 1000 years old as an empire, only India and Persia has the same historical advantage. China alongside India was once the economy power house of the world and China again is on the track to repeat history again.


When China closes his economy , over 52 billion dollar remittance of Chinese citizens working abroad are flowing in to the economy and this is was the cash used in developing the industrial sector of China. how much those Nigerians working abroad make? when/ where can Nigerians outsource money for his development without working and dealing with other country?

Jimi24:


What nonsense?
CBN has been meeting rice farmers, millers and merchants almost every month. At the last meeting, it was they who unanimously told FG, keep the door locked.
Nigerians should stop INVENTING news. It is pathetic. If a govt policy does not favour you, pray fir understanding and wisdom. Dont ever tell lies

meccuno:
Untill the 3rd mainland bridge falls down or the Abuja airport catches fire before this useless government knows that this policy has no weight or direction for the Nigerian economy. Buhari has a way of destroying any thing that he touches.

meccuno:
Untill the 3rd mainland bridge falls down or the Abuja airport catches fire before this useless government knows that this policy has no weight or direction for the Nigerian economy. Buhari has a way of destroying any thing that he touches.

niyisky:
You people will just sit in a corner and fabricate lies, just to discredit the government. Hate! I guess...98 firms without names, industry sectors etc...is easy to just relocate a business like that?

Haters, I hail una!

isthatso:

STFU and try and be patriotic for once instead of always trying to display poor knowledge with half education

seunlayi:
Buhari closed borders but he is going to UK for private holiday. Nigerians, can't you see that we have bn duped? This is epic compared to yahoo boys

chriskosherbal:
Can we please know the names of the firms and what they are producing as this will go a long way in getting a good understanding of the issue at hand.

KingGBsky:


What’s with Nigeria and this useless frequent wait for raining season when they can easily dig a borehole or a well on the farm land. People are talking irrigation we still talking raining season. Very lame.

vaxx:
You mean I should be patriotic to illiteracy like you , you even called my input poor knolwedge when you can't foolishly rebuked it....

ZombieTERROR:


[s]You must be a Yoruba Muslim

Is chevron nameless?

SMH for these people [/s]

FrLukas:


Is Chevron 98 firms?

isthatso:

STFU and try and be patriotic for once instead of always trying to display poor knowledge with half education

Jimi24:


Chevron is leaving Nigeria because of border closure?. That is what they told you?. I am weeping for you

niyisky:
You people will just sit in a corner and fabricate lies, just to discredit the government. Hate! I guess...98 firms without names, industry sectors etc...is easy to just relocate a business like that?

Haters, I hail una!