The Founder of Stanbic IBTC, Atedo Peterside has accused the Federal Government of suffocating other businesses to favour Dangote Industries Limited.
The former Cadbury Nigeria chairman was reacting to reports that the federal government had granted a border waiver to Dangote cement, a development which gives the company access to export and import items across the closed borders.
Confirming the development, the managing director of Dangote Cement, Michel Puchercos told an investor call that the company has resumed cement export to Niger and Togo in a controlled measure following a waiver from the federal government.
It would be recalled that Nigeria’s land borders with West African neighbours were closed in October 2019 following the orders of President Muhammadu Buhari.
The Federal Government said the closure of the border was necessary to stop smuggling activities and illicit export of subsidized petrol while boosting local production.
The impact of the decision has been devastating to businesses, households and the economy at large as Nigerians are still dealing with the hike in food prices caused by the policy.
Reacting to the border waiver granted to Dangote Cement, Peterside urged the Federal Government to allow legitimate exporters and importers to enjoy the same opportunity given to Dangote.
According to him: “Allowing legitimate exporters and importers to move their goods across the border should be a no-brainer.
“Why refuse everybody else and 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 on his Twitter handle.
