People & Money

Dangote Resumes Exportation Despite Border Closure

The Nigerian government has granted Dangote Cement a waiver to resume exports across its land borders.

According to a report by Bloomberg, President Muhammadu Buhari‘s administration gave its authorization for Africa’s biggest producer to export cement to Niger and Togo in the third quarter for the first time in about a year.

Michel Puchercos, chief executive officer of Dangote Cement, made this known on an investor call in Lagos, Bloomberg reported on Monday.

Also Read: Dangote Refinery Reaches 80% completion, to Start Selling Petrol Next Year

Puchercos said the import approval was obtained “through authorization given by this administration.”

Analysts say the move raises hopes that Africa’s most populous nation may be opening up trade with neighboring countries after a year-long blockade.

Puchercos said that Dangote resumed land export with “restricted volumes,” and plans to grow the trade using the sea channels.

Also Read: Dangote Tomato Firm Demands Ban of Tomato Importation

IN CONTEXT

Last October, the Nigerian government closed borders with neighboring countries including Benin and Niger to curb smuggling of rice and other essential goods and boost local production.

The basis of the waiver granted Dangote remains unclear as of press time on Monday.

Over the years, the company has been accused of enjoying certain privileges that place it far above its competitors from different administrations.

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