12 °c
London
Sunday, May 22, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Nigeria exempts Dangote Cement from land border closure

Staff by Staff
November 10, 2020
in Africa, Cement, Construction, Economy, Export, Manufacturing, Nigeria
Reading Time: 2 mins read
824 8
0
Dangote Cement bag of goodies
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

The Nigerian government has allowed Dangote Cement to resume exports across its land borders, raising hopes that Africa’s most populous nation may be opening up trade with neighbours after a year-long blockade.

President Muhammadu Buhari‘s administration gave its authorization 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, said on an investor call in Lagos. The export was made possible “through authorization given by this administration,” he said.

The exemption to Dangote Cement is seen as a softening of the government’s position on a border closure that started in August last year, and could open the way for other businesses to fully resume exports across the country’s land barriers.

Nigerian authorities closed borders with neighbouring 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’s market of 200 million people.

Also read: Dangote Cement makes 204 consumers instant millionaires

Dangote resumed land export with “restricted volumes,” and plans 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 delayed by market volatility and low liquidity, which have affected valuation, Guillaume Moyen, acting chief financial officer said at the same conference call.

Source: Bloomberg

Related

Tags: bordersDangoteDangote CementExportsNigeriaNigeria exempts Dangote Cement from land border closureнигерияنيجيرياナイジェリア尼日利亚
ScanSendShare333Tweet208Share58Pin75Send
Staff

Staff

Related Posts

Guidelines for PanAfrican payments and settlement system in Nigeria
Economy

Africa’s 5 Wealthiest Nations in 2022

by The Exchange
May 22, 2022
Travel

5 exceptionally romantic hotels in Africa

by See Africa Today
May 21, 2022
Stock Exchange and its benefits to Ethiopia
Culture

Ethiopia wonderful hidden secrets

by FurtherAfrica
May 21, 2022
Business

Rihanna’s Fenty Beauty seeks expansion in the African Market

by The Exchange
May 21, 2022
Travel

Spain, Morocco reopen land borders

by FurtherAfrica
May 20, 2022
Great Limpopo Transfrontier Park
 
AFSIC 2022
 
MozParks

Translate this page

Read the Latest

Guidelines for PanAfrican payments and settlement system in Nigeria
Economy

Africa’s 5 Wealthiest Nations in 2022

by The Exchange
May 22, 2022
0

African countries' wealth measured using gross domestic product (GDP). Nigeria is mostly reliant on petrol but it is also a...

Read more

5 exceptionally romantic hotels in Africa

May 21, 2022
Stock Exchange and its benefits to Ethiopia

Ethiopia wonderful hidden secrets

May 21, 2022

Rihanna’s Fenty Beauty seeks expansion in the African Market

May 21, 2022

Spain, Morocco reopen land borders

May 20, 2022

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?