Founder of Stanbic IBTC Bank and investment entrepreneur, Mr Atedo Peterside, has shockingly said that Alhaji Aliko Dangote and other businessmen with political connections are profiting from federal government of policy on border closure to the disadvantage of many.
The investment banker and founder of Anap Foundation says the current border closure policy is skewed in favour of “a handful of well-connected persons” in the country including Dangote’s company which has been granted a waiver to move its products across the land border.
The entrepreneur who spoke through his verified Twitter handle on Tuesday wondered why the federal government, which had closed the country’s land borders in August 2019, curiously gave waiver to some business personalities like Alhaji Dangote, to transport their products to neighbouring countries.
Recall that Bloomberg news had reported Monday that the federal government, which shut the country’s borders since 2019 has granted a waiver for Dangote Industries to move its trucks across the border.
Recall also that in June 2020, reports had indicated that Dangote Cement announced that it has commenced the export of clinker, a product which is used to produce cement, to some neignhouring countries across the continent of Africa.
However, Atedo Peterside, an investment banker and businessman is furious and wondered why other legitimate Nigerian importers and exporters are not granted similar waivers.
According to him, allowing only Aliko Dangote and a handful of few politically connected businessmen to move their goods and services across the border amounts to double standard and a great disservice to others within the business community in Nigeria.
“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 declared.
Media reports show that Dangote’s owned, Dangote Cement Plc, which unveiled its financial performance report for the first nine months of 2020 recently, showed significant revenue growth despite challenges.
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Recall that since the closure of the country’s border more than a year ago, many organizations have been confronted with severe challenges and financial squeeze.
While some have consequently canvassed a re-opening of the Nigerian border to fast-track inter-country trade, others maintain that the continued closure of the border is meant to stem trans-border criminality and illicit smuggling.