Business

Export Waiver: Dangote reacts, says report misleading, mischievous

The management of Dangote Group has reacted to reports going viral on social media that group granted sole approval to export cement through the land borders.

According to the company, it is not the only firm enjoying such privilege to export goods through the land borders.

The report has been circulating that President Muhammadu Buhari‘s administration gave its authorization to Dangote Group to export cement to Niger and Togo in the third quarter of the year.

Reacting to the widespread report,  the Group Chief, Branding and Communications, Dangote Group, Anthony Chiejina, downplayed the report, saying that it is mischievous and misleading, adding that the report focused only on Dangote.

.“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

According to the statement,  Dangote Cement and other companies in July 2020, got partial special dispensation from Federal Government to export their products

“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,” the statement said.

“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.”

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