Business
Report of Sole Cement Export ‘Misleading’, Dangote Reacts
NOVEMBER 11, 2020
The management of Dangote Group has described reports that the company was granted sole approval to export cement through Nigeria’s land borders as “misleading”.
In a statement, on Tuesday, the company said it was not the only company enjoying such privilege to move goods through the land borders.
The Nigerian government had reportedly allowed Dangote and Bua Cements to resume cement export across its land borders.
Read also: After Dangote, Nigeria Govt Exempts Bua Cement Owned By another Northerner From Border Closure
According to Bloomberg, the Buhari-led 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.
The revelations were reportedly made by Michel Puchercos, chief executive officer of Dangote Cement, on an investor call in Lagos.
But in his reaction to the Bloomberg publication, the Group Chief, Branding and Communications, Dangote Group, Anthony Chiejina, said the report is misleading and mischievous because it focused only on Dangote Cement as the sole beneficiary of the partial special dispensation.
“Dangote Cement is a publicly quoted company and complies strictly with the Securities & Exchange Commission(SEC) and Nigerian Stock Exchange (NSE) full disclosure clauses and regularly update transparently our transactions to our shareholders and it is disheartening that such honest disclosure is being interpreted negatively,” he said in a statement Tuesday.
The statement said Dangote Cement and other companies in July 2020, got partial special dispensation to export their products with certain sequence of crossing at Ilela land border in Sokoto State and Ohumbe land border in Ogun State.
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
