The founder of Stanbic IBTC Bank Plc, Mr. Atedo Peterside, has faulted the Federal Government’s decision to allow only Dangote Industries Limited to move goods across the country’s land borders, which have been closed for over a year.
Nigeria shut its land borders with its West African neighbours in August 2019, in the government’s efforts to efforts to check illegal cross-border trade which it said is hurting the local economy.
Peterside argued on Tuesday that legitimate exporters and importers should be allowed to move their goods across the borders.
“Allowing legitimate exporters and importers to move their goods across the border should be a no-brainer,” Peterside posted on his official Twitter handle, @AtedoPeterside on Tuesday.
“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 added.
The Nigerian government gave permission for Dangote Cement, the biggest producer of the building material in Africa, to export to Niger and Togo in the third quarter of the year, Michel Puchercos, chief executive officer, announced on an investor call on Monday.
In about five hours, Peterside’s tweet had over 6,000 Retweets and more than 5,000 Likes.
Peterside is the founder and president of ANAP Foundation, a non-profit organization committed to promoting Good Governance. Earlier this year, he resigned his membership of the Boards of Directors of Flour Mills Plc, Unilever Nigeria Plc, Nigerian Breweries Plc, and chairmanship of the Board of Cadbury Nigeria Plc, to focus on ANAP. He had been chairman of Cadbury for 10 years.
