The Founder, Stanbic IBTC Bank Plc, Atedo Peterside and Lagos Chamber of Commerce and Industry have condemned the selective approach of the go
The Founder, Stanbic IBTC Bank Plc, Atedo Peterside and Lagos Chamber of Commerce and Industry have condemned the selective approach of the government to economic policies. They spoke in reaction to the exemption of Dangote Cement, BUA and a gas supply firm from land border trade restriction policy of the government.
Peterside queried the decision of the government to allow only selected companies to move goods across the border, in a Tweet on Tuesday. He said all legitimate exporters should be allowed access to the border for export purposes. The tweet read, “When will the FG consider small honest businesses that are not so well-connected?
“I have since learnt that BUA Group was also allowed to export goods through Nigeria’s “closed” land borders. FG should please accept that what is good for the goose is also good for the gander.”
Peterside had earlier tweeted, “Allowing legitimate exporters and importers to move their goods across the border should be a no-brainer. Why refuse everybody else and allow only one company (Dangote)? This is why some of us argue that the Nigerian economy is rigged in favour of a handful of well-connected persons.”
The Director-General, LCCI, Dr Muda Yusuf, said the credibility of policymakers and the government was in doubt due to the selective approach to policymaking and execution. According to him, a fair policy regime demands that there should be a level-playing field in the policy and regulatory environment. He said the absence of a level-playing field for economic players was detrimental to investors’ confidence and inimical to the economic recovery aspirations of the government.
Nigeria had closed all its land borders, which shares boundaries with Benin, Niger and Cameroon in August last year, to the movement of goods in order to tackle smuggling. Nigerian manufacturers had been clamouring for the reopening of the land border as they were losing a lot of revenue to the restriction.
The Manufacturers Association of Nigeria at different fora advocated for a review of the border closure as it was not sustainable. The acting Director-General, Ambrose Oruche, had advised the government to put measures in place to guard against ill practices at the borders.
The spokesperson for the Nigeria Customs Service, Joseph Attah, said the aforementioned firms were exempted due to the need for their products in other West African countries. According to him, the approval was granted based on special requests from the governments of the neighbouring countries.
