AfricaBusiness & FinanceNigeria

Peterside questions FG over Dangote exemption from border closure

By Oluwaseun Sonde

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The Founder of Stanbic IBTC Bank, Atedo Peterside has questioned the Nigerian Government over not allowing legitimate exporters and importers to move their goods across the border except for Dangote Plc, which described as a no-brainer.

He made this known on his official social platform on Monday, he said this is why some Nigerians argue that Nigerian economy is rigged in favour of a handful of well-connected persons.

According to him, “Allowing legitimate exporters & importers to move their goods across the border should be a no-brainer.

“Why refuse everybody else & allow only one company (Dangote)? This is why some of us argue that the Nigerian economy is rigged in favour of a handful of well-connected persons”, he said.

Meanwhile, Nigerian government allowed Dangote Cement to resume exports across its land borders, despite the closure of all land borders by the government for over one year as reported by Bloomberg

The President, Muhammadu Buhari gave its authorisation for Africa’s biggest producer to export cement to Niger and Togo in the third quarter for the first time in ten months, Michel Puchercos, chief executive officer, said on an investor call in Lagos.

The exemption to Dangote Cement is seen as a softening of the government’s position on a border closure that started in August last year, and could open the way for other bushinesses to fully resume exports across the country’s land barriers.

Nigerian authorities closed borders with neighbouring countries including Benin and Niger to curb smuggling and boost local production.

Although the blockade encouraged the consumption of locally grown produce such as rice, it hurt factories across West Africa, which rely on Nigeria’s market of 200 million people.

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