Two Nigerian billionaires, Aliko Dangote and Abdul Samad Rabiu, have reignited their long-standing feud over control of key industries. Dangote, Africa’s richest person, owns Dangote Industries Limited, while Rabiu is the founder of BUA Group. Their rivalry spans decades and revolves around dominance in the sugar and cement sectors, with a new front emerging in the oil industry, as Rabiu is building his refinery while Dangote’s is already operational.
Dangote’s empire, the largest industrial conglomerate in West Africa, has a net worth estimated at $16.1 billion as of November 2023, making him the richest individual in Africa. In contrast, Rabiu, a significant competitor in the sugar and cement businesses, has experienced substantial growth, with an estimated net worth of $6.7 billion as of January 2023.
The cement rivalry began in 2008 when BUA Cement entered the market, challenging Dangote Cement’s dominance. In 2020, tensions escalated when BUA Cement accused Dangote Cement of blocking access to a limestone quarry in Edo State, resulting in an ongoing court case.
The battle between these business giants continues, reflecting their intense competition and the significance of their industries within Nigeria’s economy. Despite previous interventions to reconcile their differences, the feud persists, leaving the business community and observers wondering what the future holds for these influential billionaires.
Source: Nigerian Bulletin
