THE International Monetary Fund (IMF) has disclosed that the Republic of Benin has maintained a strong economic performance despite Nigeria’s closure of the land border connecting the two countries.

Nigeria on the 19 September 2019, had abruptly halted import and export activities on the border as one of its strategies of stopping smuggling, trafficking and other criminal activities.

Luc Eyraud, Deputy Division Chief in the IMF’s Fiscal Affairs who led the IMF team in its latest visit to Benin in a press release said the Beninese economic Real GDP is expected to grow by 6.4 per cent in 2019, mostly driven by the agriculture and transport sectors.

“Growth should accelerate in 2020 and remain sustained over the medium term, buttressed by vigorous cotton production, construction, and port activities.

“Consumer price inflation, affected by the high agriculture production, has been on a declining trend, falling by 1.4 per cent in the first nine months of 2019, relative to the same period one year earlier.

“It is expected to remain well below the 3.0 per cent regional ceiling in 2019 and 2020. The fiscal deficit for 2019 is estimated at 2.3 per cent of the recently rebased GDP.

READ MORE: https://www.icirnigeria.org/despite-nigeria-border-closure-benin-republic-maintains-strong-economy-imf/

Good for them. Let them follow their own economic path. They couldn't expect to grow by importing cars and food items for export to a neighbor who has prohibited those items.
Ghana will soon take their own economic measures.
The great economic influence of Nigeria to its neighbors should be harnessed to impact us. Nigerians should fill these vacuums in the supply chain of goods which were once imported into Benin and Ghana and geared towards a massive Nigerian market.

Let the boarder remain closed. Benin republic has a population 11.18 million. Nigerian imports gave birth to their customs. If not for Nigeria, Benin Republic could have still been struggling in their stone age.

I m not against this border closure but the suddenness. Many people goods where caught the transit, goods bought with loans, supplied on credit, etc A timely notice would have help many not to fall into their present distress and nobody is even willing to come to anybody aids. Even vehicles used in transportation were caught outside our borders as they begin to rust.

Whatever, it has happened already, let us move forward in the new other of the day. Let our custom men rise to the occasion because their negligence led to this situation.

Not bad.
Guess they improvised, unlike the noisy neighbors that threatened us and even went as far as chasing Naija traders out of their shops

why do I feel IMF is pained

They should continue to enjoy the money they've been making over the years until when the money finish we shall know.


Let's just be watching

.

Ok

Good to know. No nation's growth should be at the expense of another. Each country should map out and grow their economy organically.

Good ,so let the border remain closed.

Why was Benin Republic lamenting in the first place?

Or is IMF trying to sell us a bogus story?

The border closure is a welcome development... To me it should be closed for 5yrs...... Let anyone that want to do business come to Nigeria and invest.. You can't be calling a country corrupt when your entire economy depends on it.

Guys this is an opportunity to make millions..

Agriculture will flourish.... Chicken will be very expensive this December.... Don't keep your money in the bank... Go and invest in something.

Yet Benin Republic government and people are groaning in pain.

Abeg, this IMF too like akproko.

E be like this border closure follow dey pain IMF, even though I don't like Buhari but the fact that western financial services are worried means that there could be something tangible coming out of this harsh decision coupled with his visit to Russia and handing over Ajaokuta Steel to them.

Let's hope that Boko Haram does not deploy new tactics soon, when America failed to topple the Syrian government of President Assad using ISIS Al Nusra, FSA etc because of Russia sudden intervention, Trump came out openly recently to declare that US is in Syria for her oil.
Meanwhile Obama, CNN, BBC etc have been telling us for years that it is to bring Freedom and democracy to Syria.

IMF destroyed our economy by convincing IBB to do Structural Adjustment Policy (SAP) now they have been hovering around again.
Buhari should stand his ground on this one.

beresponsible:
Good for them. Let them follow their own economic path. They couldn't expect to grow by importing cars and food items for export to a neighbor who has prohibited those items.
Ghana will soon take their own economic measures.
The great economic influence of Nigeria to its neighbors should be harnessed to impact us. Nigerians should these vacuums in the supply chain of goods once imported into Benin and Ghana geared towards a massive Nigerian market.

I don't understand you

Let them maintain a strong economy. The better the economy of your neighbors, the more secure they are and the more secure your neighbors are, the more secure you are.

The government's ongoing action isn't targeted at their economy. That isn't our business. Our business is our border and not their economy.

For now, the border remains closed. EOD.

Good for them.....if the boarder remains closed all man will adjust with time.

Goods are still smuggled in from their country to Nigeria so why won't they maintain good economy. 20 new jeep passed ikorodu/itamaga axis on Wednesday night I'm sure they're smugglers that brought them in



I doubt if Nigerians can survive if another country try to invade us. The border is just too vulnerable

Better for them.

And what of the good for nothing Ghana?

Am sure they are still pained as to our border closure so that they can't think straight anymore because of Nigeria.

Nonsense

Forget this IMF news. I don't believe it. My people there are complaining.

#istandwithborderclosure

IMF?

They should keep it up....and IMF pls don't promote hatred between the two countries .thanks in advance

Very encouraging massage whereas Nigeria economy is declining everyday. It will never be well for people that vote certificateless president to power, even their children will enjoy the suffering too.

But how come Ghanaians are crying more than Benin republic. Is it that Ghana can't breath without Nigeria or what?

princeogbeide1:


I don't understand you

Jesus! I thought i was the only one o. Funny enough, the post was liked by his types or his other accounts.

@ op, anyhow Nigerians takes the border closure as torment on the Beninese or as a measure for Nigeria to better her economy; two things are certain, Benin will always look for ways to strengthen her economy, and i can't say same for Nigeria.

When Bribes are still being received

Lies

I knew it...
The Osogbo weed I gave that stupid IMF man(Luc Eyraud) is working.
Very soon we go hear say Afghanistan has the fastest growing economy in the world.
.

You think say them send you!!!!!

I can't forget Late Fela's swipe at IMF.

IMF and voodoo economics.

Nigeria should borrow a leaf and get to work... There are loads of untapped resources waiting around.

You can't truly move forward as a nation economically if all you do is borrow money to continuously import.