Border reopening will help small businesses benefit from legitimate trade –Buhari

President Muhammadu Buhari Friday said the increased demand of legitimate cross-border trade would transform small businesses and agricultural enterprises that relied on Nigeria’s trade and commerce as the country reopened its borders.

“The message to our West African neighbours is that Nigeria is once again fully open for those willing to conduct business in a fair and equitable way,” Buhari told Nigerians in his New Year address Friday morning.

Nigeria re-opened four of its land borders to neighbours in December, after more than one year of closure, which government said was aimed at curbing smuggling and fostering self-sufficiency, especially in food production.

The move has kept food prices rising for months, driving inflation to 14.89 per cent in November, its highest point in 15 months.

“Our focus is on revamping the economy through the national economic diversification agenda that supports the primary goal of national food self-sufficiency.

Read also: Only God can supervise Nigeria’s border with Niger Republic – Buhari

“This has helped reduce the growing food related inflationary figures and have in considerable measure positively impacted our food security status during the long months of the pandemic lock down,” Buhari said.

He affirmed his administration’s commitment to rebuilding Nigeria’s infrastructure and bringing change via modernisation, expansion and rehabilitation of the railway system and other transportation modes.

Buhari expressed the optimism that current reforms in the power industry would bolster efficiency in a bid to grow the generation and distribution of electricity for domestic and industrial use.

“As an administration we are currently undertaking a series of special interventions designed to boost job creation and support the entrepreneurial drive of our youths,” Buhari said.

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