Atedo Peterside has faulted the Federal Government’s approval of Dangote Cement‘s request to trade across the borders and opined that allowing everyone to engage in legitimate trade should be a “no-brainer”.
Peterside, the founder of Stanbic IBTC Plc, disclosed this on Tuesday morning after news of the approval went viral online.
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
— Atedo Peterside (@AtedoPeterside) November 10, 2020
He argued that the move should have been made possible for everyone, and that only allowing one person shows the economy is rigged for the connected.
“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.
What you should know
Nairametrics reported earlier that the Nigerian government has given Dangote Cement the approval to export Cement to West African countries through Nigeria’s land borders, which have been closed for over a year.
The cement manufacturer is the only company given such approval to export across the borders.
Dangote Chief, Michel Pucheros said the cement exports were made through “authorization given by this administration,” allowing Africa’s largest cement company to export to Niger and Togo during the 3rd quarter of the year.
(READ MORE: Dangote delays London Stock Exchange listing)
Nairametrics also reported in October 2019 that the Federal Government of Nigeria ordered the complete closure of the Nigerian border, placing a ban on both legitimate and illegitimate movement of goods in and out of the country.