Fear Grips Benin Republic Over Nigeria’s New Vehicle Importation Policy

The recent directive by the federal government banning imported vehicles from the land border is generating panic  in some among Francophone nations in the  West African sub-region; most especially Benin Republic, where  officials of the country’s  customs service have revealed revenue collection on the commodity has nosedived even before the January 1, 2017 take-off date.
Investigations conducted by Shipping Position Daily, between 28th and 30th of December 2016, revealed that the announcement on the ban in December 2016 has thrown the country’s government into confusion.
Although language was a barrier in the course of the investigations, but with the help of an interpreter, our correspondent who visited Cotonou confirmed that the Benin Republic specifically relies on Nigeria to sustain her economy and that the ban on vehicles and rice in 2016 alone is already negative impact on the country’s economy.
Shipping Position Daily also recalls that the ban on importation of rice mid last year through land borders had a negative effect on Benin Republic’s revenue, considering the large patronage by Nigerian shippers.
However the ban of vehicles imports through the land borders would place neighbouring Benin in further economic jeopardy.
Speaking with our correspondent  on  the development in Benin Republic, a top customs chief (names withheld) confirmed that the announcement of the ban did not go down well with the President of the his country.
He revealed that the country is panicking and thinking of the next line of action to help the country’s economy from the effect of the ban.
According to him, the Nigerian government decision to ban importation of vehicles through land border is a huge blow to the government of Benin Republic.
The senior customs official lamented that the issue of rice to an extent, has caused the country to lose majority of her revenue.
He added that the new policy on vehicles is a big blow to the Benin customs boss and even the president of the country.
He maintained that the Benin government is yet to have any concrete plan to ameliorate the situation, but indications have shown that some heads of government agencies in the country might be summoned to brainstorm on the next line of action to be taken.
The customs chief also stated that nobody has solution to the anti-Benin Republic policies by the Nigerian government and there has been no form of solution to the problem.
He also disclosed that the policies would affect its currency, because according to him , prior to the two policies, the Cfa was a fast rising and stronger currency, because of  the high demand for it by  Nigerian who patronise Cotonou port.
He also disclosed that Lebanese car dealers who rely greatly on Nigerian buyers might likely close shops because their market was essential set up for Nigerians buyers.