A recent border closure between Nigeria and Niger has put a $226.34 million trade relationship in jeopardy. This trade link, established through years of cooperation, is now under strain due to the border shutdown prompted by the political turmoil in Niger.
The border closure comes as a response to a military takeover that toppled the democratically elected government of President Mohammed Bazoum in Niger. As a result of the unstable situation in the country, Nigeria’s acting Comptroller General of Customs, Bashir Adeniyi, announced the closure, citing concerns for safety and security in certain areas.
The decision to close the borders was taken with the guidance of the Economic Community of West African Countries (ECOWAS), a regional organization that seeks to promote peace, stability, and economic integration among its member states.
Nigerian President Bola Tinubu’s letter to the Nigerian Senate detailed the various measures implemented to address the political upheaval in Niger.
These included shutting down land borders, reactivating border drilling exercises, cutting off electricity supply to Niger, and seeking international support for the ECOWAS communiqué.
According to data from the International Trade Center, the trade volume between Nigeria and Niger stood at $226.34 million in 2022. A breakdown of the data shows Nigeria imported goods worth $33.43 million from Niger while exporting products valued at $192.91 million.
This is not the first time Nigeria has resorted to border closures in response to tensions with its neighboring countries.
In 2019, Nigeria partially closed its border with Niger and other nearby nations, resulting in a substantial decline in trade. The latest closure could prove even more detrimental given the complex political backdrop.
The deterioration in diplomatic ties has left the future of this economic partnership uncertain. As queues of vehicles amass at the border between Niger and Nigeria, it is evident that the economic fallout of this decision is already being felt.
The $226.34 million trade hangs in the balance, a testament to the fragile nature of economic relations in times of political instability.
