Chieftain of the African Democratic Congress (ADC), Kenneth Imansuagbon, has thrown his weight behind former Vice President Atiku Abubakar’s proposal to reopen Nigeria’s land borders, arguing that the policy could boost trade, attract investment and help ease the country’s economic hardship if implemented.
 
This was as Atiku renewed his call for the government’s intervention in Nigeria’s petroleum sector, arguing that targeted production support could help reduce fuel prices and ease the cost-of-living crisis.
  
He accused President Bola Tinubu of wrecking Nigerians’ purchasing power, emptying household pockets and pushing businesses to the brink through economic policies that have made everything more expensive while leaving ordinary citizens with less money to survive.
  
Imansuagbon’s position followed Atiku’s recent pledge that, if elected President in 2027 on the platform of the ADC, he would reopen Nigeria’s land borders and implement measures to facilitate the movement and importation of goods. 
  
Atiku had argued that prolonged border closures disrupted legitimate businesses, constrained regional trade and undermined economic growth.
  
In a statement, yesterday, the former Edo State governorship aspirant said the planned reopening of Nigeria’s borders with neighbouring countries, including the Benin Republic, Niger, Chad and Cameroon, would restore legitimate cross-border commerce, improve the movement of goods within the West African sub-region and create fresh economic opportunities.
  
He, however, criticised the economic reforms introduced by Tinubu’s administration, alleging that they worsened the cost-of-living crisis, weakened businesses, and left many Nigerians struggling to survive.
  
According to him, many businesses have either scaled down operations or shut their doors, resulting in job losses and a decline in economic activity.
  
“The reopening of the borders will restore legitimate trans-border trade, encourage investors, stimulate local businesses and ultimately reduce the prices of food and other essential commodities through healthy competition,” he said.
  
Imansuagbon also argued that persistent insecurity in parts of northern Nigeria constrained agricultural production, making regional trade an important complement to domestic food supply.

Meanwhile, Atiku said his proposed Production Subsidy would focus on supporting domestic production and refining, increasing supply and ensuring that the benefits are reflected in the prices Nigerians pay at the pump.
  
He made the position known in a statement issued yesterday by his Senior Special Assistant on Public Communication, Phrank Shaibu.
  
The former VP said: “Tinubu did not inherit this cost-of-living crisis from Nigerians. His policies created and deepened it. He took away relief from the people, made fuel, food, transport and basic survival more expensive, and now wants Nigerians to applaud statistics while their pockets are empty.
  
“Recent reports that a significant share of the short-term assets of some of Nigeria’s biggest companies is now trapped in unpaid customer bills tell the same story: companies may record sales, but customers increasingly cannot pay because Tinubu’s economy has drained their purchasing power.”
  
Atiku said the position being canvassed by the Crude Oil Refinery Owners Association of Nigeria (CORAN) for support for domestic refining, alongside President Donald Trump’s intervention to strengthen petroleum production and refining in the United States, further exposes the weakness of Tinubu’s argument against targeted support for Nigerian production.