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    Dangote Cement being Authorized by the Federal Administration of Nigeria to proceed exports from it’s Land Border Closure

    Posted On 16 Nov 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Abdul Rahman Bangura–

    Photo Credit: Premium Times Nigeria

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The national administration of Nigeria has enabled Dangote Cement to restart exports across its land borders, lifting confidences that the nation may be opening up trade with neighbors after a year-long blockade. President Muhammadu Buhari’s administration gave its permission for Africa’s biggest producer to export cement to Niger and Togo in the third quarter for the first time in ten months.

    Michel Puchercos – Chief Executive Officer of Dangote Cement was noted to have let out this during an investor call in Lagos. The export was made possible “through approval given by this administration,” he said. The privilege to Dangote Cement is seen as a softening of the government’s position on a border closure that started in August last of 2019, and could unwrap the way for other enterprises to entirely start again exports across the country’s land barriers. The federal government had closed borders with neighboring countries including Benin and Niger to thwart smuggling and boost local production. Although the siege motivated the consumption of locally grown produce such as rice, it injure factories across West Africa, which depend on Nigeria’s market of 200 million people.

    Dangote started again land export with “restricted volumes,” and schemes to grow the trade using the sea channels, according to Puchercos. The Lagos-based company’s plan to buy back some of its shares has been postponed by market volatility and low liquidity, which have influenced valuation, Guillaume Moyen – Acting Chief Financial
    Officer announced at the same conference call.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    10 Comments

    1. Michelle November 16, 2020 at 2:15 am Reply

      Thank you for the newsletters. Love it, always. Frankfort Germany. Michelle

      • New Africa Business News, Staff Correspondent November 16, 2020 at 2:16 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Kwasi November 16, 2020 at 2:21 am Reply

      Nigeria or any Country in the Continent should not be close and Africa should remove all these colonial hateful borders. Africa was a Country and should be borderless in the Continent. Kwasi in Dae es Salaam, Tanzania

      • New Africa Business News, Staff Correspondent November 16, 2020 at 2:22 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Lawrence November 16, 2020 at 2:30 am Reply

      Africa should remove all these borders. You cannot divide person’s body to 54 persons. Time to get to go borderless in our great and beautiful continent. Cape town South Africa. Lawrence

      • New Africa Business News, Staff Correspondent November 16, 2020 at 2:32 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Adeola November 16, 2020 at 2:39 am Reply

      Thank you for the report. Please continue covering the whole continent. Africa is one body and should be one. Time over due for these colonial borders. Lagos Nigeria. Adeola

      • New Africa Business News, Staff Correspondent November 16, 2020 at 2:40 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Fifi November 16, 2020 at 2:47 am Reply

      Our governments need to go borderless. Africa was a country before our northern neighbors came for exploitation. Make Afrika Great. Fifi in Accra Ghana

      • New Africa Business News, Staff Correspondent November 16, 2020 at 2:48 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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