I have written quite a bit about this border closure, and I am tired. I suspect many are, but we can't keep quiet in the face of economic self-sabotage.
Today, @nigerianstat released figures that showed that inflation has reached its highest level in more than a year, food inflation even worse.
Consider that about 60% of Nigerians have nothing left to spend after they have paid for food, then these numbers become even scarier.
Consider that about 60% of Nigerians have nothing left to spend after they have paid for food, then these numbers become even scarier.
Permit me to also talk about the effect on Nigerian businesses.
Two FMCGs I'm aware of export to neighbouring countries. Since this border closure, they've been forced to declare force majeure more than once, meaning in all probability, their clients will look for alternatives.
Two FMCGs I'm aware of export to neighbouring countries. Since this border closure, they've been forced to declare force majeure more than once, meaning in all probability, their clients will look for alternatives.
Those alternatives are likely to be Chinese. Which means that Nigerian businesses may not be able to recover their market when the border reopens. This means that Nigerian businesses will downsize. Which means more Nigerians out of work.
That's just one.
That's just one.
Now to food the much-vaunted reason that the border was closed.
We have not sorted the basic problems of agricultural production in #Nigeria.
Quality of seed.
Yields.
Storage.
Transportation.
This means that our local production cannot meet our demand.
We have not sorted the basic problems of agricultural production in #Nigeria.
Quality of seed.
Yields.
Storage.
Transportation.
This means that our local production cannot meet our demand.
This means that the ban will only create an artificial scarcity, and lead to a rise in prices for those who can afford it, and starvation for those who can't.
Already there are stories of @ChickenRepublic having supply problems.
Already there are stories of @ChickenRepublic having supply problems.
I know that some other foodstuffs are creeping upwards in price, @nigerianstat confirmed this today.
This could lead to social problems such as the new jobless picking up guns at a time more people are using cash because electronic means of payment are no longer as friendly...
This could lead to social problems such as the new jobless picking up guns at a time more people are using cash because electronic means of payment are no longer as friendly...
One thing this border closure shows is the inability of @NigeriaGov to deal effectively with a complex problem.
Consider @CustomsNG raiding people for "smuggled" cars.
For 5 years you've had a ridiculous tariff on cars. Why not crash that tariff so cars will come here direct?
Consider @CustomsNG raiding people for "smuggled" cars.
For 5 years you've had a ridiculous tariff on cars. Why not crash that tariff so cars will come here direct?
Regarding rice, it is an unassailable fact that #Nigeria's rice production simply cannot meet our demand.
What have we done to incentivise production, storage, and getting the rice to the market on time?
Have we even mapped our country so as to know where the rice should go?
What have we done to incentivise production, storage, and getting the rice to the market on time?
Have we even mapped our country so as to know where the rice should go?
