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Nigerian Manufacturers Reportedly Lose Billions to Border Closure

Nov 29, 2019 04:54 PM
Nigerian Manufacturers Reportedly Lose Billions to Border Closure Africa Business Radio, Local Manufacture, Nigeria, Border Closure, Africa Business News, Border Security, MANEG

Local manufacturers and exporters have continued to lament over the land border closure policy of the Federal Government as they disclosed that over N5 billion had been lost in respect of imported materials waiting to enter the country. The disclosure came from manufacturers under the Manufacturers Association of Nigeria Export Promotion Group (MANEG) as they demanded that goods with fully paid duties be allowed into the country. That the manufacturers noted that releasing the goods would enable them to offset credit facilities procured for the business. According to the report, over 1,000 trucks with containerized goods valued at about hundreds of billions of naira belonging to members of MANEG are still trapped at the borders despite payment of duties and tariffs.

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