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

Atedo Peterside, the founder of Stanbic IBTC Bank PLC, called on FG for reopening the border just for Dangote saying that the Nigerian economy is rigged in favor of a handful of well-connected people.

Nigerian businessman and investment banker Atedo Peterside has criticized the federal government’s decision to grant only access to Dangote cement to export and import items across borders.

Recall that 10 months ago, the federal government closed the borders with neighboring countries such as Benin and Niger to stop smuggling and boost local production in an attempt to boost the country’s economy.

Edujandon reports that the Buhari administration has given its authorization to the largest African producer, Dangote, to export cement to Niger and Togo in the third quarter for the first time in ten months.

In reaction to the latest controversial development, the investment banker through his Twitter account said that such a move is the reason why some Nigerians argue that the Nigerian economy is rigged in favor of a handful of well-connected people.

“Allowing legitimate exporters and importers to move their products across the border should be a no-brainer. Why reject everyone else and allow only one company (Dangote)? That’s why some of us argue that the Nigerian economy is rigged in favor of a handful of well-connected people. “

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