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Monday, April 15, 2019 / 06.32PM / Nifemi
Taiyese for Proshare WebTV / Header Image Credit: Pan African Magazine
In a recent interview with Proshare WebTV the
Ambassador of Nigeria to Benin Republic H.E Amb kayode Oguntuase re-emphasized the
need for the West African sub-region to drive economic integration.
Oguntuase was of the view that if this is achieved it
will bring economic prosperity to the region, which has a major socio-economic
challenge of youth unemployment.
For the Ambassador it was critical and beneficial to
Nigeria to have a deepening of economic integration because of its position as
the largest economy in the Sub-region.
Table 1 Sub-Saharan Trade Outlook
Source: World Bank
Getting A Handle on
Integration
Giving insight
into integration activities in the sub-region, the diplomat noted that for
Nigeria and in particular Benin Republic the country to which he is an
ambassador, there is already an established economic integration zone such
as the Co-Prosperity Alliance Zone (COPAZ) which comprises Nigeria, Benin
Republic, Togo and Ghana.
COPAZ according
to him provides an opportunity for members of the zone to maximize trade and
cooperation which can have a positive effect on their economies respectively.
On the
Nigeria-Benin Relations the Ambassador asserted that there are enormous
opportunities for both countries, if they remain committed to working together
considering their proximity.
Giving his view
on the issue of smuggling, the Ambassador decried the fact that the
activity was having a negative impact on Nigeria, particularly in the
case of rice that is imported from India, Malaysia and Pakistan. This
development from his observation was creating problems for Nigeria as it
is against ECOWAS protocol.
He called for
coherence between both countries in order to suppress and curb smuggling
through international borders.
Smuggling A Persistent Albatross
“Following the
realization that the issue of smuggling is not only between Nigeria and Benin
Republic, Niger Republic was brought into the scheme to curb smuggling
menance”, Oguntuase said.
Through his
position as Ambassador, he said a lot of work has been done to discourage
illegal trade. Speaking on the way forward he emphasized the need for
formal trade, and make the Nigerian regulatory bodies more flexible, which is
why they are now working with NAFDAC and Customs to ensure this is
achieved.
With the recent
establishment of the Seme-Krake border facility, Ambassador Oguntuase believes
trade between Nigeria and Benin will be more regulated improving the economies
of both nations.
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