High Hopes for Experiential Marketing in 2021 as Nigeria Re-opens Land Borders After 16 Months



Just days after a top experiential practitioner predicted better days for 2021 if Nigeria's

land borders are reopened, the federal government have gone ahead to do exactly that. Last Wednesday, the Nigerian government had ordered the reopening of four major land borders in Nigeria after almost 16 months. The borders were closed since August last year.

The borders posts reopened by government are Seme and Mfun in South West Nigeria, and

Ilela and Maitagari in the North West.


Many analysts believe reopening the borders will allow exporters in Nigeria to recapture their share of formal and informal trade that has been lost, while also allowing for exporters

beyond West Africa to have access to the Nigerian market. The reopening, many

feel. will also be a boost to the region's substantial informal economy.


Speaking earlier to Experiential NG, Kayode Olagesin, Managing Director/CEO Towncriers

Limited, Lagos and Pioneer President of Experiential Marketing Association of Nigeria

(EXMAN) had stated that reopening the borders will propel the economy back into growth

phase, and hopefully, going into the new year, dig the country out of the recession hole.

In His words: "If government opens up the boarders, you will begin to see a lot more

activities on the path of manufacturers. Right now, according to MAN, we have a situation

where there is a whole load of stocks sitting in the warehouses that they cannot even move.

The inflation is such that even consumer purchasing power is really low right now so the

ability to buy is impaired."


The manufacturers are also having their own issues too. So all of these `presents a huge

challenge. But if they open the boarder as promised, part of the huge stock can now be moved out to neighbouring countries. That means part of their problems has been solved because if you export, you actually can earn foreign exchange and some of their foreign exchange challenges can be addressed


Summarising his comments on expectations for 2021, Olagesin said he is cautiously

optimistic that both business and consumer activities will receive a huge boost coming into

the new year; "I want to believe 2021 will be a better year for the marketing communication

industry for as long as our clients are active and doing business, then we need to support their products and services" he concluded.


Generally, economic experts across the country have stated that the border reopening

directive by the Federal Government could have both positive and negative implications on

the country's economy. The Finance Minister, Zainab Ahmed, while disclosing that at the Federal Executive Council meeting said while the four borders are to be immediately reopened, the ban on importation of rice, poultry and other banned products still subsists and will be implemented by the border patrol team


Many commentators feel the border reopening has its human, economic and social impacts.

Many think there is a high probability that a lot of goods would come in and compete with

Nigerian-made goods while others have showered government with praises.

Muda Yusuf, the Director-General of the Lagos Chamber of Commerce and Industry noted

that government's decision to reopen the borders asserts Nigeria's economic leadership in

Africa. We cannot keep a closed border when we have signed on to free continental trade. It

will be a huge contradiction, he explained.


For Charles Onunaiju, Director of the Center for China Studies in Abuja, “It is a welcome

development and will be beneficial to the economy. Many small businesses depend on cross-border trade for a living and many manufacturers also leverage the ECOWAS Trade

Liberalisation Scheme to boost their business,”


Bureau Sources.

0 views0 comments

Subscribe to Our Monthly

Experiential Marketing Industry Intelligence Report

  • White Facebook Icon

© 2023 ExperientialNG

(A Member of ADVANTAGE)