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The Speaker of the Lagos State House of Assembly, Mudashiru Obasa has said the closure of Nigeria’s land borders by the Federal Government will help the country to eradicate poverty.
Obasa said this on Wednesday while speaking to newsmen on the sidelines of the signing of a Memorandum of Understanding between the Lagos State Chambers of Commerce and Industry (LCCI) and the China Shandong Export Commodities (Nigeria).
The MoU was signed at the ongoing 2019 Lagos International Trade Fair taking place at the Tafawa Balewa Square (TBS), Lagos.
The agreement was signed by the President of the LCCI, Mr Babatunde Ruwase and Mr Fu Zhifang, President of the Shandong Province Commodity Export of China.
Obasa said despite the complaints about the border closure from within and outside the country, the move was a bold initiative by the government to stimulate local production of goods and services.
“The border closure has its pros and cons. Closing the border is an opportunity to encourage local producers to increase their output and make something positive out of the situation.
“When we close our doors to the importation of some goods, it shows that the locally made goods will enjoy patronage.
“By so doing we are increasing the Gross Domestic Product (GDP)of the nation, creating employment for our local people and at the same time, poverty will be eradicated.” he said.
On the MoU, Obasa expressed optimism that the bilateral cooperation between LCCI and the Shandong Province of China would attract more investments to the state.
“They are here to see the way and manner in which they can promote what they have in their country while we are also opening our doors for would be investors.
“We are very hopeful that this is going to be a success within the next five or six years with the Chinese having a huge number of investments in Lagos.
“By so doing we are talking about creating employment for our people, increase in revenue collections and other positive things,” he added.