The Microeconomic Implication of Border Closure in Nigeria: A Review

Main Article Content

Umunna Nwagu

Abstract

Purpose: This study aims to present the ongoing implications resulting from border closure in Nigeria.


Approach/Methodology/Design: A systematic review of previous literature is conducted. All sources were collected from well-known databases.  


Findings: Nearly half the household budget is spent on food, even at comparable income levels. Land border closure by President Muhammadu Buhari has positively impacted agriculture. Many businesses are facing a loss. Most companies export 100% of their output to West African markets. Several parts of the Nigerian border were closed after the ACFTA was signed in 2019. The closure has angered ACFTA critics. Based on the NBS, food inflation increased from 13.2% in August to 13.51% in September, and from 13.51% to 14.09% in October 2019.


Originality/value: Border closure results in significant losses. The study recommended reducing production costs.  Agricultural extension services can help farmers adapt to climate change, improve yields, and provide modern techniques.

Article Details

How to Cite
Nwagu, U. (2023). The Microeconomic Implication of Border Closure in Nigeria: A Review. Journal of Advanced Research in Economics and Administrative Sciences, 4(2), 18-25. https://doi.org/10.47631/jareas.v4i2.607
Section
Review