President of the Africa Export-Import Bank, Prof Benedict Oramah, has urged Nigeria and other African countries to deploy technology in monitoring their borders.
Oramah spoke at the second edition of the African Investment Forum, which opened in Johannesburg, South Africa, on Monday.
Answering a question on the relevance of African Continental Free Trade Area with the border closure by Nigeria, Oramah expressed confidence that Nigeria would resolve the issues with its West African neighbours before AfCFTA’s commencement in July 2020.
He, however, urged Nigeria and other African countries to learn to deploy technology in monitoring activities within their borders rather than resort to closing borders.
Oramah said the continental trade agreement was important in turning African countries to developed economies and expressed confidence that Nigeria would not turn its back on the agreement which it had signed.
He said, “Africa consists of 55 fragmented markets. AfCFTA will create one market in Africa. Unless we turn it to one market, the continent will remain underdeveloped.”
On the closure of the Nigerian borders, he said, “Trade deals on AfCFTA will start July 1, 2020. Nigeria will resolve its border challenges before then. Nigeria has signed the agreement and will not take the agreement lightly. Even in marriages, there can be challenges. The border closure is a temporary measure.”
