98 Companies Leave Nigeria Over Border Closure

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No fewer than 98 firms have relocated from Nigeria to other West African countries, while others have lost millions on account of the country’s decision to close its borders.

The national president of the Association of Micro-Entrepreneurs of Nigeria .Saviour Iche, who made the disclosure at a press conference, said the companies moved to other countries because of the negative impact the border closure was having on their businesses, warning that many others will follow suit if the situation persist.

He added that 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 daily.

He explained that operating environment in other West African countries are better, and that as opposed to Nigeria where the emphasis of government is taxation, governments of other countries give incentives and support businesses.

According to him, while the closure has increased government revenue, its negative side far outweighs positives.

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