The recent exemptions of Dangote Cement and BUA Group from the Nigerian land border closure give a rare insight into trading in the West African sub-region. Not only has the closure taken a toll on neighbouring countries such as Benin, Togo, Ghana, Niger and Ivory Coast who rely on Nigeria’s market of over 200 million people for survival, it has also taken a toll negatively on the profits of legitimate Nigerian traders who sell to these countries and earn upwards of 10% on various commodities than in Nigeria.
These exemptions tell the discerning investor that although Nigeria has a huge market, the West African market offers double that – 400 million people in 15 countries – and an additional profit upwards of 10%. This market cannot be ignored by Dangote or BUA, therefore, they have found a way to open the land borders; for themselves. In anticipation of the full reopening of the Nigerian land borders to all Nigerian traders, which would significantly increase trading profits for Solva Global Trading Co., we continue to trade within Nigeria.
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