BUA Cement Plc received a waiver from the government for the export of Cement to the Niger Republic via the Sokoto Border.
This was first disclosed in an earnings call held in July which provided investors with details on the second-quarter results of BUA Cement Plc. Nairametrics has also seen a letter from Customers approving the waiver.
Despite Closing the land borders for trade for over a year, Nigerian Cement companies were approved for land export to West Africa. In the document viewed by Nairametrics, BUA was also given the approval to export to Niger Republic. Dangote Cement announced on Monday that they have exported through land borders during an investors call.
The Nigerian customs granted approval to BUA Cement to transport Cement to Niger Republic in June. Dangote Cement and BUA Cement are competitors in the cement manufacturing space and are first and second respectively in terms of cement production capacity in the country.
The Customs letter signed by a Zonal Coordinator read in part:
” I am directed to forward herewith a letter from the office of the National Security Adviser …dated 17th, June 2020 on the above subject matter. The trucks will exit and return through Illela Border Station in Sokoto State. You are to monitor the movement towards ensuring that they are loaded only with Cement to Niger Republic and return back to Nigeria”
What you should know
Nairametrics 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.
Nairametrics also reported today that the Nigerian government has also 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.
This got the attention of other Businessmen including Atedo Peterside who said: “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 added.
Attached to the document where the details of the drivers and Truck license numbers.
The larger picture
Granting waivers for export suggests the government is willing to open borders even if it is for export purposes rather than stick to a policy that has stifled trade since it was introduced late in 2019.
- Granting the cement manufacturers, a waiver, also suggest the government will consider granting the same to other smaller Nigerian firms who are export-oriented.
- Export-oriented manufacturers have suffered losses due to the government policy on land border closure and will see this as a window of opportunity to commence exports.
- The government should, however, issue a policy guideline, rather than approve exports on a piecemeal basis which will not favour smaller exporters with little or no government connections.
- This could also be a precursor to Nigeria’s implementation of the African Continental Free Trade Area (AFCFTA), which would require movement of goods across borders and a reduction of tariffs in trade through Africa’s borders.
Correction: An earlier version of this article erroneously said the information was first obtained in an earnings call by Dangote Cement. Rather, it was in an earnings call by BUA Cement held in July 2020.
#DigitalSkillsTraining: FG announces conclusion of selection process
Only successful applicants that are contacted by the Ministry are to report at the training venue.
The Federal Government through the Ministry of Youth and Sports disclosed that the selection process for the upcoming Digital Skills Training has been concluded for the #DigitalSkillsTraining from April 11th to 30th, 2021.
This was disclosed in a statement by the Ministry of Youth and Sport on Sunday evening.
“The Federal Ministry of Youth and Sports Development wishes to inform the general public and all Nigerian Youths that the selection process has been concluded for successful applicants for the #DigitalSkillsTraining scheduled for April 11 to 30, 2021,” the statement said.
The Ministry added that only successful applicants that were contacted by the Ministry are to report at the training venue. Those who were not successful but arrive at the training would not be admitted.
“Upcoming #DigitalSkillsTraining Programmes of the Ministry will be widely publicized on youthandsport.gov.ng , on : noya.ng and on the Ministry’s social media handles,” the statement added.
What you should know
Recall that Nairametrics reported in November 2020, that the Ministry of Youths and Sports Development announced it will scale up its digital skills training to cover 500,000 youths across the country after securing funding under the COVID-19 stimulus budget.
FG to name new train station after Mobolaji Johnson
FG to name flagship train station located at Ebute Metta after the former Governor of Lagos State, Mobolaji Johnson.
The Federal Government is set to name its flagship train station located at Ebute Metta after the former Governor of Lagos State, Mobolaji Johnson.
This was disclosed by the Ministry of Transportation via its Twitter handle on Sunday.
It tweeted, “New indoor photos of our flagship station located at Ebute Metta. It is to be named Mobolaji Johnson Station after the former Governor of Lagos State. Please share your thoughts.”
New indoor photos of our flagship station located at Ebute Metta. It is to be named Mobolaji Johnson Station after the former Governor of Lagos State. Please share your thoughts. Thanks 🙏 pic.twitter.com/BgqGhrT4s4
— Federal Ministry of Transportation (@MinTransportNG) April 11, 2021
What you should know
The Federal Government has also stated why the China Civil Engineering Construction Company (CCECC) Nigeria Limited could not link the final part of the Lagos-Ibadan rail line to the sea, according to Nairametrics.
The government in its explanation said that it was due to disruption by trucks going in and out of the port complex.
According to a press statement signed by the Director, Press and Public Relations of the Federal Ministry of Transportation, Eric Ojiekwe, this disclosure was made by the Minister of Transportation, Rotimi Amaechi, while on a routine tour of the Lagos-Ibadan rail line project on Saturday, April 10, 2021.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Cornerstone Insurance Plc notifies stakeholders of late submission of financial statements.
- NSE approves delisting of 11 Plc shares.
- Berger Paints Nigeria Plc reports a 67% decline in Profits in FY 2020.
- MTN Nigeria raises N73.5 billion from CP Issuance to finance operations.
- Jaiz Bank proposes dividend worth N884 million for shareholders.