Nigerian Traders Export Food to More Profitable Markets Abroad Amid Falling Naira, Worsening Business Conditions

Traders are increasingly selling grains like rice and maize to neighboring countries like Niger, Cameroon, and Chad where currencies are stronger compared to the falling value of the naira. This brings them bigger profits.

The declining value of the naira against the Central African CFA franc motivates Nigerian traders to export food to countries that use the currency.

Customs has intercepted trucks loaded with food items being smuggled across borders in Northern states like Sokoto and Katsina. But smuggling continues.

Some traders say harsh business conditions, insecurity, and poor infrastructure drive them to sell goods abroad.

Economists say traders are reacting rationally to maximize profits given economic realities. But this could worsen Nigeria's food crisis.