IMF Backs Nigeria On Border Closure And Urges Speedy Resolution

IMF Backs Nigeria On Border Closure And Urges Speedy Resolution

Austin Papi

Many have criticized the Nigerian government for the closure of her borders but the International Monetary Fund (IMF) has supported Nigeria's closure of its borders.

Recall, Nigeria had closed its borders to curb the issues of illegal border trading and import of illegal items.

The Director of the African Department at the IMF, Abebe Selassiez, has given his organization's position concerning the border closure during a media briefing on the sidelines of the World Bank/IMF annual meetings in Washington.

Abebe Selassiez, who was responding to a question on whether Nigeria' Border closure contradicts the African Continental Free Trade Agreement (AFCFTA), pointed out that although the free trade routes were critical to the economic growth of the African continent in general, it must be a legal consent and in line with agreement between all the countries involved.

"On the border closure in Nigeria which has been impacting Benin and Niger, our understanding is that the action reflects concerns about smuggling that has been taking place.

"It is about illegal trade, which is not what you want to facilitate,'' Mr Selassie said.

Mr Selassiez also urged all affected African countries to reach a prompt resolution, so that trading can commence amicably, as it would also help the economic growth of all countries involved, including Benin Republic, Togo and Nigeria.

Happenings Media