“The border closure is a simplistic solution to a complicated, broader and multidimensional problem.” Nigeria
This comes as the Federal Government said its border closure decision had led to a reduction in the demand for the product, even as prices for rice and frozen foods keep rising due to restricted supplies.
NNPC Group Managing Director, Mele Kyari, in a tweet, said the drop might not be unconnected with the border restriction policy and other interventions of the security agencies aimed at curbing smuggling. For rice, poultry products and frozen foods in most local markets, their prices have gone up astronomically. While a bag of rice currently goes for N22,000 from N16,000 , a kilogramme of turkey that was N1,400 now sells for N2,000.
Its Director-General, Muda Yusuf, said: “The border closure is a simplistic solution to a complicated, broader and multidimensional problem. We should develop the culture of tackling the causes of problems, not fighting the symptoms. This is the way to solve a problem sustainably.” The state oil firm had earlier disclosed that it recorded a $1.6 billion savings from the arbitration between its flagship upstream subsidiary, the Nigerian Petroleum Development Company , and Atlantic Energy Drilling Concept Nigeria Limited, bringing the succour to $4.3 billion.
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