Business & Investment

Border closure was unsustainable as food demand exceeded supply – Omotola

Private sector Lai Omotra said closing the Nigerian border was nothing more than a futile action, as long as high demand for food outweighed supply.

Omotra, who gave insights at the CFL Group’s year-end press conference in Lagos, said: “Last year, we said border closures wouldn’t achieve anything. Businesses will continue on demand. When there is demand for products, people try their best to get them, even if you try to stop them. In order to get the product, people compromise the personnel to check the influx of such products. It has happened at the border since it was closed in August last year. “

Explaining why he believed that the border closure was a mistake from the beginning, he said: “There are more than 200 million people in Nigeria as a country. We cannot produce enough to feed ourselves. We needed to import from other countries. For example, the Republic of Benin. Is a small country, but it produces more than the population needs, and Nigeria needs food from Cotonou and feeds her large population, so our production is low. Unless the local needs can be met, people have to do everything to bring in groceries. That is why border closures enrich many who were to enforce bans. It was decided to do. “

Omotra, managing director and chief executive officer of the CFL Group, said that when developing plans for his corporate group in 2021, the only way for a company to survive in times of adversity is not to fold. , Challenge.

“As a business, don’t close or run away. Don’t resign because of fate. You have to think big even when you’re short. Certain entrepreneurs Believes that the only way to stay on top of a declining economy is to stay on top. Ride the wave. Companies need to diversify to be in the midst of this recession. There is, “he said.

“Diversification is the secret to our sustainability. In today’s world, people need to learn multitasking. If Nigeria had diversified many years ago, we would be in the economic situation we are today. It’s not going to be. Keeping data and telecommunications companies in their current state is a creative idea. In the midst of the Covid-19 and the recession, they are growing. Group Our sustainability within was the ability to diversify into other sectors while others were having problems, “he added.

Border closure was unsustainable as food demand exceeded supply – Omotola

https://businessday.ng/news/article/border-closure-was-unsustainable-as-food-demand-outweighs-supply-omotola/ Border closure was unsustainable as food demand exceeded supply – Omotola

Back to top button