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Abdul Samad Rabiu – “We have de-risked the Nigeria/France relationship”

In depth
This article is part of the dossier: Nigeria/France: Le Nouveau Chapitre

By Nicholas Norbrook, in Lagos
Posted on Monday, 28 June 2021 14:29

Abdul Samad Rabiu, Chairman and CEO of BUA Group
Abdul Samad Rabiu, Chairman and CEO of BUA Group, at the signing ceremony of a new refinery, in Paris (photo: Bruno Levy)

Abdul Samad Rabiu, the CEO and Chairman of BUA Group, has signed several major deals with French companies in recent times, from Axens as technical partner to his new refinery, to a 300tn plasterboard factory deal with French construction giant St Gobain. He intends to list a segment of his business empire on the Lagos Stock Exchange later this year.

After the announcement in October 2020 that BUA Group had signed up French company Axens to deliver the technological heart of a new 200 barrel-per-day oil refinery, attention turns to the next phases of the project. The site location, in the southern coastal state of Akwa Ibom, has been picked for “its proximity to feedstock, and the deepwater draft of 14-16m”, says BUA’s founder and CEO Abdul Samad Rabiu.

Also in this in Depth:

Nigeria/France: Mike Adenuga – ‘This is a strategic relationship’

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Nigeria/France: Gilbert Chagoury ‘The concept is work and play. You don’t need to leave’

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Nigeria/France: Aliko Dangote wants to “make Africa self-sufficient”

Nigeria's leading industrialist is pushing ahead with his refinery, which should see mechanical completion by the end of the year. He is attending President Macron's Choose France summit at Versailles on 28 June to build new links to French industry.

Nigeria/France: Tony Elumelu – “The Central Bank has a mandate”

Tony Elumelu is slowly linking up the composite parts of his business empire. The latest example: his recent oil field purchase, set to supply gas to a power plant in the Niger Delta.

Nigeria/France: Herbert Wigwe – “We want to be the Citibank of Africa”

Herbert Wigwe, the managing director of Nigeria's Access Bank, has been working on acquiring a French banking licence. It is all part of the plan to become the 'Citibank of Africa', and help plug the gaps in the global financial architecture that have left African companies shut out of financial markets.

Nigeria: Macron banks on Rabiu to dodge Sahel trap

France's President Emmanuel Macron spent a formative period in Nigeria and is now pushing French corporates to seek opportunities beyond their comfort zone. The Choose France summit of global business leaders held at Versailles on 28 June will be noticeable for a special Nigeria event, which will bring together leading Nigerian and French industrialists. Nigeria is the only country receiving this treatment at Choose France: a sign of how important France's economic diplomacy in Nigeria is to Emmanuel Macron.