BUA Group Chairman Abdul Samad Rabiu made first president of France-Nigeria Business Council

French President Emmanuel Macron inaugurated the France-Nigeria Business Council on the sidelines of the Choose France Summit in Versailles, France, on June 28.

Abdul Samad Rabiu, founder of Nigeria’s BUA Group, was appointed as its president.

The council is a private sector initiative established to enhance business relations between the two countries.

Leading Nigerian industrialists Gilbert Chagoury (Chagoury Group), Mike Adenuga (Globacom and Conoil), Aliko Dangote (Dangote Industries), Tony Elumelu (Heirs Holdings) and Herbert Wigwe (Access Bank) are all members of the council.

Other members include the French multinationals Dassault, Danone, Axens, Ponticelli and Total Energies.

In his inaugural speech, Rabiu thanked Macron for supporting the creation of the France-Nigeria Business Council. He said the council has led to a reset in commercial ties between Nigeria and France, creating a viable platform for businesses to partner.

“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,” Rabiu said.

“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,” he added. “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.”

Macron praised Rabiu for having confidence in French businesses, which led to a partnership between BUA’s new 200,000-barrel-per-day refinery and the French government. He also pledged his government’s support to facilitate better dialogue between Nigerian and French businesses.

In April, French Foreign Trade and Economic Attractiveness Minister Franck Riester announced that Rabiu had been made the chairman of the France-Nigeria Investment Club.