President Muhammadu Buhari has exempted Dangote, BUA and a yet to be named gas supply company from the land border closure policy instituted some months ago to curb the influx of foreign products.
The authorisation allows Dangote to export cement to Niger and Togo through the land borders according to Michel Puchercos, the Chief Executive Officer, Dangote Cement.
Commenting on the authorisation, DC Joseph Attah said these three companies were exempted because of the demand for their items in other West African countries. Meaning, they are likely channeling their exports’ proceed through the Central Bank of Nigeria, a move that could help the apex bank augment the nation’s weak foreign revenue and intervene in the nation’s forex market.
DC Attah said “The Presidency, in its magnanimity, has approved the exemption of three companies, Dangote Cement, BUA and a gas supply firm from its border closure restrictions due to the need for what they export to other African countries.
“I cannot remember the name of the gas supply company now, but the company supplies gas to Niger and other West African countries.
“So as of now, these companies will be allowed to export their goods through our land borders to neighbouring countries.”
Asking if the authorisation might be extended to other exporting companies, Attah said he cannot comment on that for now.
“For now, only these three companies have been exempted. On whether the goodwill will be extended to others, I cannot talk on that since I am not in the Presidency. Ours is to carry out policies of government as regards the land border closure policy.”
