In a startling report and a knock on Nigeria’s ease of doing business initiative, the World bank has stated that the cost of trade in Nigeria and Ethiopia is four to five times higher than what obtains in the United States due to insecurity, higher transportation costs, topography and poor road infrastructure.
This was contained in the Bretton Wood’s institute Africa Pulse publication released recently.
The global lender noted that market distortions across Africa result in price differences of imported food and non-food products, indicating lack of integration across African markets.
