The founder of Stanbic IBTC Bank Plc, Mr. Atedo Peterside criticized the Federal Government’s decision that only Dangote Industries Limited is allowed to move goods across the borders amid the closure of the country’s land borders.
As part of the efforts to check the smuggling pf contrabands into the country, Nigeria’s land borders have been closed to its West African neighbours for more than a year. Peterside said on Tuesday that legitimate exporters and importers should be allowed to move their goods across the border. He therefore queried why the Federal Government would allow only Dangote to transport good through the closed land borders.
“This is why some of us argue that the Nigerian economy is rigged in favour of a handful of well-connected persons,” he said.
According to the Central Bank of Nigeria (CBN), the value of the nation’s non-oil export declined by 11.1 per cent to $320m in August on the back of the border closure.