FG Exempts Dangote From Border Closure

The Federal Government has allowed Dangote Cement to resume exports across its land borders, raising hopes that it may be opening up trade with neighbours after a year-long blockade, reports Bloomberg. The government gave its authorisation for Dangote Cement 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 authorisation given by this administration,” he said. The exemption to Dangote Cement is seen as…

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Shoprite Plans To Discontinue In Nigeria

Shoprite, the South African retail outlet has announced the commencement of a formal process to discontinue its operation in Nigeria. Shoprite Holdings Limited made the announcement on Monday in its operational and voluntary trading update for the year ended on June 28, 2020. The multi-national retail group, which announced a 6.4 per cent increase (R156.9billion) in total sales of merchandise for the outgoing year despite the challenges posed by the COVID-19 pandemic, announced that it took the decision to discontinue its Nigeria operation “following approaches from various potential investors, and…

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