TheCable

Atedo Peterside, the president and founder of Anap Foundation, says the Nigerian economy is rigged in favour of a handful of well-connected people.

Peterside was reacting to news that the federal government has granted Dangote Cement a waiver to export cement through the closed land borders.

“Allowing legitimate exporters & importers to move their goods across the border should be a no-brainer,” Peterside, who is also the founder of Stanbic IBTC Bank, wrote in a tweet.

“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.”

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

Michel Puchercos, managing director of Dangote Cement, told an investor call on Monday that the company has resumed cement export to Niger and Togo in a controlled measure following a waiver from the federal government.

In October 2019, President Muhammadu Buhari had ordered a closure of the land borders to curb the smuggling of arms, food items, and hard drugs into the country.

The closure, which is meant to boost local production and strengthen security, has taken a significant toll on neighbouring countries such as Togo, Ghana, and Cote D’Ivoire that rely on Nigeria’s market of over 200 million people.

Nigerian businesses have also not been able to export their products through the land borders as a result of the closure.