The founder Stanbic IBTC Bank Plc, Mr. Atedo Peterside has condemned the federal government’s favouritism in its approach to certain economic policies.
He was reacting to the waiver/exemption granted Dangote Cement and BUA Group to export their products to neighbouring African countries through the nation’s supposedly closed land borders.
In a tweet on Tuesday, in reaction to the concession, Peterside tweeted: “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.”
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Hours later, he updated the tweet saying: “I have since learnt that Bua Group were also allowed to export goods through Nigeria’s “closed” land borders. FG should please accept that what is good for the goose is also good for the gander. When will the FG consider small honest businesses that are not so well-connected?”
Recall that Nigeria had closed all its land borders, which shares boundaries with Benin, Niger and Cameroon in August last year, to the movement of goods in order to tackle smuggling.
However, Dangote Cement, BUA and another company are permitted to move their goods across the borders.
Explaining that, spokesperson for the Nigeria Customs Service, Joseph Attah, was quoted as saying three companies – Dangote Cement, BUA and a gas supply company – were granted approval by the presidency to export to neighbouring countries through land borders due to the need for their products in other West African countries.
He said the approval was granted based on special requests from the governments of the neighbouring countries.
“This by the way is not a new thing because the border was partially closed in August 2019 and since then, it has remained closed.
“Some three months ago, upon special requests from the governments of these neighbouring countries, the government agreed with their requests and approved that these companies should supply those things. It is a presidential approval,” the ANCS spokesman was quoted as saying.
