Home » Nigeria’s second-richest man Abdul Samad Rabiu’s BUA Group hits back at Aliko Dangote

Nigeria’s second-richest man Abdul Samad Rabiu’s BUA Group hits back at Aliko Dangote

by Yusuf Abdulfatai
Abdul Samad Rabiu and Aliko Dangote

BUA Group, a prominent Nigerian infrastructure and manufacturing conglomerate led by billionaire Abdul Samad Rabiu, has issued a resolute rebuttal to allegations made by fellow Nigerian billionaire, Africa’s wealthiest man Aliko Dangote, dismissing them as baseless and characterizing them as “cheap attempts at blackmail.” 

In a recent statement signed by BUA Group’s management, the conglomerate staunchly defended its integrity and underscored a history marked by resilience in the face of deception. BUA also revealed that Dangote has allegedly orchestrated months of sponsored campaigns against them through third-party platforms.

Condemning Dangote’s accusations as groundless attempts to undermine BUA’s integrity and disrupt its business operations, the conglomerate illuminated the enduring animosity between the two industry giants. 

Abdul Samad Rabiu’s BUA Group counters accusations with a history of perseverance

In 1991, during a severe sugar shortage in Nigeria, BUA Group, a key player in the industry, was approached by Dangote for a sugar purchase. However, what seemed like a lifeline from Dangote turned out to be the first move in a series of schemes set by him, according to BUA’s claims. Dangote issued a check from Societe Generale Bank of Nigeria to BUA, only for it to bounce when presented to the bank. This led to a court-approved freeze of BUA’s assets.

Despite these adversities, BUA Group survived and persevered. The conglomerate also recounted a subsequent episode in which it leased land from Usman Dantata at the Tincan Island Port in Lagos to establish a sugar refinery. However, the lease was revoked by former President Olusegun Obasanjo, who awarded it to Dangote.

BUA was given just 24 hours to vacate the land, creating a severe setback. Fortunately, the late Sheikh Isyaku Rabiu, Abdul Samad Rabiu’s father, intervened and generously handed over the land on which the Lagos Sugar Refinery stands today, allowing BUA to rise from the ashes of deceit and become the largest sugar refining concern in West Africa.

BUA Group extends Olive Branch to Dangote, focusing on nation-building

The statement also highlights BUA’s resilience in the face of obstacles when expanding into the cement industry and establishing BUA Cement. BUA faced resistance when trying to dock a floating terminal in Lagos. Despite these hurdles, the intervention of late President Yar’Adua ensured that BUA’s right to contribute to the nation’s growth was upheld.

Moreover, the statement references the challenges encountered during the construction of BUA Cement’s Edo plant, the Port Harcourt sugar refinery, and even leaked emails allegedly involving Dangote Group’s staff.

Throughout all these tribulations, BUA Group remains resolute and committed to its ethos of innovation, integrity, and inclusiveness. It pledges to continue serving Nigeria with dedication and honor, undeterred by unfounded criticism, and focused on building and developing the nation.

In closing, BUA Group extends a message of cooperation to Dangote, stating: “Let us build, not battle. Let us cultivate, not conquer.” The group emphasizes its commitment to the prosperity of Nigeria, free from the winds of unfounded criticism, as it strives to contribute to the nation’s growth and development.

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