Dangote group faults Bloomberg reports, says BUA also gets approval to export cement despite border closure

DANGOTE Group has debunked media reports claiming that only the company was granted waiver on the export of certain products despite the continued border closure of the nation’s land borders.

Bloomberg had reported that Dangote Cement was granted sole approval to export cement through the land borders.

But reacting to the reports the Group Chief, Branding and Communications, Dangote Group, Anthony Chiejina said the same approval was extended to a competitor, BUA Group and an unnamed gas company.

Chiejina described the Bloomberg report as misleading and mischievous because it focused only on Dangote Cement as the sole beneficiary of the partial special dispensation.

He noted that Dangote Cement as a publicly quoted company displayed transparency by making full disclosures of its transactions to its shareholders as required by the Securities & Exchange Commission (SEC) and Nigerian Stock Exchange (NSE).

He said, “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.”

The Group Chief Branding and Communications added that Chief Executive Officer, Dangote Cement, Michel Puchercos, in his presentation on investor call held this week made a detailed explanation but was heard amiss which led to the misleading report by Bloomberg.

Chiejina disclosed that 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.

“Chief Executive Officer, Dangote Cement, Michel Puchercos, in his presentation on investor call held this week explained that the company is continuously focused on exporting cement to West and Central Africa by sea through its export terminals.

“He added that six vessels of clinker were exported in the third quarter of 2020 via the Apapa export terminal, while plans are on track to commission the Port Harcourt export terminal before the end of this year.

“For the quarter, Dangote Cement exported only 69 kilotonnes of cement via the land borders, compared to previous volumes of 180 kilotonnes before the border closures, which indicates just 38 per cent of the export volumes,” Chiejina explained.

Based on the report by Bloomberg, renowned banker Atedo Peterside, had complained that only Dangote Industries Limited was allowed to move goods across the border amid the closure of the country’s land borders.

Peterside said on Tuesday that legitimate exporters and importers should be allowed to move their goods across the borders.

“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,” he said on his Twitter handle.