President of Dangote Group Aliko Dangote has met his rival Abdulsamad Rabiu, founder of BUA Group, in France.
The duo alongside other business leaders met in Paris, France for the International Business Summit hosted by French President Emmanuel Macron.
Other Nigerian billionaires attending the summit are chairman of Globacom and Conoil Plc Mike Adenuga, and founder of Heirs Holdings, Tony Elumelu.
In April, Dangote retained his position as Africa’s richest man in Forbes’ 2021 World’s Billionaires list.
Dangote saw his net worth jump to $11.5bn from $8.3bn in 2020, making him the 191st wealthiest person in the world.
Rabiu’s wealth surged to $4.9bn from $2.9bn in 2020, making him the 574th richest person in the world and the sixth in Africa.
In 2008, BUA broke Dangote Sugar’s eight-year monopoly in the Nigerian market by commissioning the second largest sugar refinery in sub-saharan Africa. The company later acquired a controlling stake in a public company, Cement Company of Northern Nigeria, in 2009. This enabled BUA to commence construction of a $900 million cement plant in Edo State commissioned early 2015.
Dangote, 64, and Rabiu, 60, both Kano indigenes, earlier this year clashed over a new sugar refinery plant linked to BUA Group.
Dangote and Flour Mills accused BUA’s refinery in Bundu Free Trade Zone, Port Harcourt, Rivers of undermining the national sugar master plan (NSMP).
The fued was later resolved by Kano State Governor Abdullahi Ganduje and other stakeholders.
