Stanbic IBTC Bank PLC founder Atedo Peterside slams FG for reopening border only for Dangote

Atedo Peterside, the founder of Stanbic IBTC Bank PLC has called out FG for reopening border only for Dangote saying the Nigerian economy is rigged in favour of a handful of well-connected persons

Nigerian entrepreneur and investment banker, Atedo Peterside, has kicked against the Federal government’s decision to grant only Dangote cement access to export and import items across the borders.

Recall that 10 months ago, the Federal government closed borders with neighboring countries including Benin and Niger to curb smuggling and boost local production in a bid to boost the country’s economy.

Bloomberg reports that the Buhari administration has given its authorization for Africa’s biggest producer, Dangote, to export cement to Niger and Togo in the third quarter for the first time in ten months.

Reacting to the latest controversial development, the investment banker via his Twitter handle said such a move is why some Nigerians 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”

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