LAGOS, Nigeria – The State Governor, Babajide Sanwo-Olu has said that the closure of Nigeria’s border was necessary.
He stated that the policy was to protect the Nigerian economy.
Sanwo-Olu spoke at the Center for Values in Leadership (CVL) 17th Annual Lecture in Lagos.
The Governor, represented by his Deputy, Obafemi Hamzat, stressed that trade between nations thrived on the commitment of parties to the principles of fairness, integrity and equity.
“If these principles are breached with its attendant negative effects on the economy of one party, then the sustenance of trade relations and the mutual benefits that should accrue from such, would be threatened,” Sanwo-Olu said.
“It is wrong to view the border closure as an action against the objectives of promoting intra-African trade,” he added.
The governor remarked that countries “stand to gain a lot in terms of enhanced economic growth and development if greater attention is focused on improving the current level of intra-African trade”.
”The African Continental Trade Agreement (AfCTA), if well implemented, has a potential to increase intra-African trade by about 52 per cent by 2020,” Sanwo-Olu added.