Impacts of border closure policy on entrepreneurial activities in selected main markets in Ibadan, Southwest, Nigeria

Abstract

Abstract Entrepreneurial activities are fast becoming the primary means of livelihood as an increasing number of people are embracing it to overcome socio-economic challenges. However, many in certain sectors of the entrepreneurial activities are faced with many policy challenges. This study seeks to find out the lived experiences of the retailers involved in entrepreneurial activities related to the border closure and the effect of the policy on entrepreneurs’ businesses as it influences the informal sector in the Ibadan metropolis. The study adopts the Mertons’ Functionalist theory to situate study concepts. The descriptive research design with the use of qualitative methodology was adopted for the study. The in-depth interview was conducted with 10 entrepreneurs in the Ibadan metropolis and analysed in themes in line with the study objectives. This is adjudged sufficient for a qualitative study and many of the responses were almost similar. Study findings show that there have been more complaints about their activities since the border closure policy was enacted. That is, the state of entrepreneurial activities has been deteriorating since the implementation of the policy. However, irrespective of the challenges, the study reveals that the entrepreneurs still make their profit, even though at a reduced rate. Based on the findings, it was recommended that entrepreneurs be educated and sensitised on the impact and usefulness of any government decision on the business environment to prevent opposition within the society. In addition, the porosity of the border (land border) and not the closure of the wall should be of much concern to the government and their officials; hence, the government should tighten up the borders by having strict regulations when it comes to trading, importation and exportation of commodities across borders.