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Cameroon-Nigeria: Slow down in business activities has led to heavy financial loss

Commercial activities between Cameroon and Nigeria has witnessed a severe moment of drought recently.

Figures published recenly by conpetent services of Cameroon's ministry of finanace indicates that, business has taken a shape fall from 52.8 billion fcfa in 2015 to 25.1 billion in 2016. According to the same source, experiencing a loss to the tune of 24.7 billion fcfa in economic exchange between both countries in a single year, is an indicator  of future economic crisis.
 
Nonetheless economic analysts have linked the causes of this unhealthy business climate between Cameroon and Nigeria to the terrorist activities of the barbaric group Book Haram in the northern part of Cameroon and north east Nigeria. The situation arrived its peak in the  late 2016 with the advent of the Anglophone Crisis in the North West and South West Regions of Cameroon.
 
Even though business interactions between both states have reduced greatly, Nigeria still remains at the advantage position because it exports much to mr Biya's country. This is simply why Nigeria is the second business partner of Cameroon behind China and in front of France based on statistics from Cameroon's Ministry of Commerce.
 
According to Business Day, a Nigerian magazine, Buhari's country might loss about 450 billion fcfa this year as export to  la republique du Cameroun should the Crisis persist. All hopes of increase in revenue  from fast  business activities with the tarring of the 403 kilometers of road linking Bamenda in Cameroon to Enugu in Nigeria have been dashed as the stalemate persist in these two Regions. 
 
More to that, the internal displacement of persons and their goods and the reluctance of the populations of the border towns of both countries in northern Cameroon to fully resume transborder economic activities for fear of Book Haram is another major worry.
Concord Newsdesk

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