President Emmanuel Macron of France has appointed billionaire businessman, Abdul Samad Rabiu, as the President of France-Nigeria Business Council.
The council is a private sector initiative to enhance business relations between the two countries.
The appointment came on the heels of a campaign against Rabiu by an Abuja based bakers’ association over a price hike of flour by BUA Group – IRS Flour Mill claiming that the hike is killing their businesses and may result in the abolition of many jobs if no action is taken.
Macron appointed Rabiu, Founder and Chairman of Nigeria’s BUA Group, as the inaugural President of the council at a business summit in France.
The newly inaugurated council also has Gilbert Chagoury of Chagoury Group, Mike Adenuga of Globacom and Conoil, Aliko Dangote of Dangote Industries, Tony Elumelu, Chairman UBA & Heirs Holdings, and Herbert Wigwe, CEO, Access Bank as the Nigerian members of the council.
The largest French companies including Dassault, Danone, Axens, Ponticelli and Total Energies are also members of the council.
Speaking at the inaugural meeting of the council, Rabiu thanked Macron for appointing him and pledged to use the platform to create better opportunities for businesses on both sides.
Additionally, Rabiu thanked the French president for “his vision in creating the French Nigeria Business Council which has led to a reset in the business relationship between Nigeria and France and has created a viable platform for business from both countries to partner and improve business ties.”
He said, “Nigeria is blessed with numerous potentials for French companies to do business across different areas, notably solid minerals, mining, manufacturing, agriculture, associated equipment, power, food processing, and even in the business of associated equipment or infrastructure for the value chains of these sectors”.
“Where French businesses have formerly been risk-averse or outrightly unable to do business with Africa’s largest economy, they can now be assured of a platform through which they can penetrate and mutually grow the market. Where Nigerian companies had not seen French companies or the French market as a viable destination due to a lack of information, they can now be sure of a platform to facilitate this. This is all thanks to President Macron’s foresight and vision.”
Industry watchers believed that the damaging media attack against BUA Group at home could have been intentionally plugged to water down Rabiu’s chances at the summit, especially when Dangote, his rival in the industry was also present at the same event.
It was no news that there had been several clashes between the two powerhouses for some time now.
Freelanews recalled how Dangote once petitioned the federal government asking the Ministry of Trade to shut down BUA Group’s Sugar Refinery located in Port Harcourt.
In the letter dated 28th January, 2021 signed by Aliko Dangote himself as the Chairman Dangote Industries Limited, the billionaire claimed that when the BUA Sugar refinery was opened, he warned the government and they told him that ‘no new refinery would be allowed to operate in Nigeria’. Dangote accused BUA of operating with impunity by contravening the laws as laid down in the National Sugar Policy by selling its products locally instead of producing for export alone.
Freelanews is the editorial byline of Freelanews.com, used for staff reports, news updates, press releases, and collaborative stories produced by the Freelanews Editorial Team.
