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Nigeria, Benin Reach Agreement on Trade, Commerce
From Kunle Aderinokun in Abuja, 11.29.2004
Nigeria and Benin Republic have signed an agreement to allow free flow of trade and commerce across the borders of the two countries. Minister of State for Finance, Mrs. Nenadi Usman, signed on behalf of the Federal Government while Beninoise Minister of Commerce, Industry and Employment, Mr. Fatiou Akplogah, signed for his country. Speaking at the agreement signing ceremony of the Nigeria-Benin Joint Committee on Commerce (JCC), Usman said the business community in Benin had requested the Federal Government to open up the Nigeria-Benin borders for free flow of trade. Usman hoped that the opening up of the Nigeria-Benin borders would attract in the nation's coffers huge revenue flow into the hitherto blocked by smugglers. The minister also hoped that the development would increase the volume of trade between the two countries and foster the drive towards common economy in the West African sub-region. "It is going to be of huge economic benefit to Nigeria because before now, the goods were mostly smuggled into Nigeria and we were losing the revenues that ideally we should have collected if we allowed them to be officially brought in. What ordinarily is brought in without us getting duty we will now collect duty and I think instead of the money going into the smugglers' hands, it will go into Nigeria's purse. "Secondly and most important, we are part of the West African sub-region, and you are aware that we have this collaboration whereby there should be free trade, free movement of goods and we are moving towards having the same currency. So ideally, we are supposed to increase the volume of trade among our countries within the West African sub-region and we thought this is one way of increasing that volume of trade," she said. She noted that the two countries had agreed on a number of items/goods that could be brought in from Benin Republic through three ports of entry for these goods. "The first point of entry will be Krake-Seme Border, that is one corridor; the second is Nikki-Chikanda and the third is Igolo-Idi-Iroko. These basically are the three corridors through which these items can be brought in here," she added. She suggested that men of the Nigeria Customs Service, National Agency for Food, Drug Administration and Control (NAFDAC), Standard Organisation of Nigeria (SON) should make sure that the goods are not only manufactured in Benin Republic but also that they meet the standard the Nigerian government has set. "This is so because in times past, certain goods were brought from other countries into our neighbouring countries and from our neighbouring countries, they were brought into Nigeria. In order to ensure that that does not happen, we will have our officers stationed in the factories to monitor the production, to make sure these goods originate from Benin Republic," she added.
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