{"id":5455,"date":"2020-11-10T05:27:57","date_gmt":"2020-11-10T04:27:57","guid":{"rendered":"https:\/\/thedailyleaks.com\/?p=5455"},"modified":"2020-11-10T05:38:42","modified_gmt":"2020-11-10T04:38:42","slug":"nigeria-exempts-dangote-from-land-border-closure-exports-cement-to-niger-togo","status":"publish","type":"post","link":"https:\/\/thedailyleaks.com\/nigeria-exempts-dangote-from-land-border-closure-exports-cement-to-niger-togo\/","title":{"rendered":"Nigeria exempts Dangote from land border closure, exports cement to Niger, Togo"},"content":{"rendered":"
The Federal Government of Nigeria has allowed Dangote Cement to resume exports across its land borders, raising hopes that Africa\u2019s most populous nation may be opening up trade with neighbours after a year-long blockade.<\/p>\n
President Muhammadu Buhari\u2018s administration gave its authorization for Africa\u2019s 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, said on an investor call in Lagos.<\/p>\n
The export was made possible \u201cthrough authorization given by this administration,\u201d he said.<\/p>\n
The exemption to Dangote Cement is seen as a softening of the government\u2019s position on a border closure that started in August last year, and could open the way for other business to fully resume exports across the country\u2019s land barriers, Bloomberg<\/a> said in its report.<\/p>\n ALSO READ:\u00a0N75bn ESP: Survival fund beneficiaries will be evenly distributed across states \u2014Presidency<\/a><\/strong><\/p>\n Nigerian authorities closed borders with neighboring countries including Benin and Niger to curb smuggling and boost local production. Although the blockade encouraged the consumption of locally grown produce such as rice, it hurt factories across West Africa, which rely on Nigeria\u2019s market of 200 million people.<\/p>\n Dangote resumed land export with \u201crestricted volumes,\u201d and plans to grow the trade using the sea channels, according to Puchercos.<\/p>\n The Lagos-based company\u2019s plan to\u00a0buy back some of its shares has been delayed by market volatility and low liquidity, which have affected valuation, Guillaume Moyen, acting chief financial officer said at the same conference call.<\/p>\n","protected":false},"excerpt":{"rendered":" The Federal Government of Nigeria has allowed Dangote Cement to resume exports across its land borders, raising hopes that Africa\u2019s most populous nation may be opening up trade with neighbours after a year-long blockade. President […]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":5456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,3,2],"tags":[1079,1080,1082,1081],"coauthors":[25],"class_list":{"0":"post-5455","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-latest-news","9":"category-top-news","10":"tag-dangote-cement","11":"tag-land-boder","12":"tag-niger","13":"tag-togo"},"yoast_head":"\n