Listen to ABR

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.

Get the latest headlines and unique ABR stories, sent every weekday.

BCX Brand Positioning-Awake Online_Voice-300x250-12-2019-Tracking Ad-BUS01034

Upcoming Events

Wed 17

ABR social sensitization on HIV & AIDs

Jul 17 @ 07 AM - Jul 24 @ 05 AM

Job Listing

Software Developer



News Updates

  • Marriott Reopens All Hotels In China As Travel Rebounds

  • US Economy Could Be Affected for A Decade Due to Coronavirus

  • Ugandan To Lose $1.6 Bln In Tourism Earnings As A Result Of COVID-19

  • Mali cotton output at 700,000 T in 2019/20

  • South African rand falls on U.S. protests, Sino-U.S. tensions

  • Hospital Operator Mediclinic Sees Full-Year Loss

  • ACEP Against Ghana Gas Acting as National Gas Aggregator

  • Marketers Cry Out as FG Cuts Petrol Price to N121.50

  • Senate, NNPC Clash Over $21 Crude Oil Production Cost

  • Oil Rises To $38 As OPEC+ Discusses Production Cut Extension