Experts say reopening borders will help stabilise food prices

Experts have commended the Federal Government for the reopening of some land borders across the country, saying it will help stabilise the prices of food items.

They said this in an interview with newsmen in Abuja on Sunday.

Supreme News reports that former President Muhammadu Buhari, in August 2019, shut all land borders in the country as part of efforts to curtail smuggling and boost local rice production.

However On December 6, 2020, Buhari ordered the immediate reopening of four land borders, and on March 15, 2024, Nigerian Customs reopened the Kamba Border in Kebbi State in compliance with the directive of President Bola Tinubu to reopen land borders with the Niger Republic.

Mr. Benjamin Ekeyi, a public finance management and governance expert, said the re-opening of the borders was a step in the right direction.

According to him, it is a long-overdue decision considering the negative effect the closure has had on Nigeria.

Ekeyi said reopening the borders would lead to increased trade, allowing for a greater flow of goods and services between Nigeria and neighbouring countries.

“This will in turn lead to a boost in economic growth through access to larger markets and the promotion of competition.

“With increased competition and a greater supply of goods, prices may decrease. This can benefit consumers by making goods more affordable.”

He said opening the borders could help stabilise prices by balancing supply and demand.

“Ensuring a steady supply of goods through open borders can help control inflation, especially for essential commodities.”

Ekeyi, however, said that re-opening the borders could pose security challenges, and he called on the government to put in place adequate security measures at the borders.

He said adequate infrastructure would be required to handle increased trade volumes efficiently when the borders are opened.

“Government may need to make significant investments in infrastructure and technology required to maximise the benefits of the open borders.”

Mr Greg Maduakolam, an economist, said the reopening of some borders was a welcome development as it would help reduce inflation in the country.

Maduakolam, however, said as a sustainable measure, the Federal

The government needs to engage in large-scale mechanised farming, adding that insecurity in the country must be addressed to be able to achieve this.

“It takes a long period for food production, so the borders should be open to import food to address the food shortage.

“We need to produce. The government needs to ensure people go to the farm. But how can they go when their lives are being threatened?

“The government has to do everything to tackle insecurity, which will enable the farmers to go back to their farms.

“The government should move to full-scale production by engaging in mechanised farming,” he said.

Mrs. Zainab Ali, a distributor and wholesaler of non-perishable food items, said the reopening of borders would offer some relief, but not to a very large extent.

“It is a welcome development, but the issue is that the prices of some items like pepper and tomatoes cannot be imported, so it will not affect their prices.

“We are also dealing with the issues of the exchange rate, insecurity, and transportation costs; the government needs to address these issues before we can witness any significant reduction in food prices.”