Business
Dangote, Rabiu renew bitter business rivalry, feud, fight dirty
Dangote, Rabiu renew bitter business rivalry, feud, fight dirty
Aliko Dangote and Abdul Samad Rabiu, two Nigerian billionaires, are at each other’s throat again.
They are currently locked up a bitter war over who controls the cement sugar industries in the country.
The latest dangerous trend is an allegation of illegal business deals and economic sabotage.
Dangote is Africa’s richest man and owns Dangote Industries Limited. Rabiu is the founder of BUA Group.
The two moneybags are no strangers to bitter business rivalry and feud. Their business disputes span three decades.
Dangote Cement is considered the largest cement producer in Nigeria, with a market share of over 60 per cent.
BUA Cement is the second-largest producer, with a market share of about 20 per cent.
The latest media war between the duo was ignited on Thursday when Dangote, in an advertorial in the national dailies accused Rabiu of sponsoring false reports against him and his businesses.
The Dangote Industries Limited (DIL) refuted allegations of being engaged in illegal foreign exchange deals, warning those peddling the allegation of economic sabotage against the company to desist.
It boldly mentioned the name of Rabiu in the advertorial.
The company described the report as a rehash of a similar report peddled out of malice in 2016.
But BUA Group, in its response, accused Dangote and his company of trying to ruin its cement and sugar business over the years.
The DIL made reference to an allegation in some online media, suggesting that the company was being probed over alleged illegal foreign exchange laundering running to $3.4bn allegedly perpetrated by the Central Bank of Nigeria under the leadership of Godwin Emefiele over the years.
Dangote said as an organisation, it was not in its custom to respond to any spurious allegation, but that “since it is a rehash of a similar report peddled out of malice by a competitor masquerading as a concerned Nigerian in 2016, we are constrained to provide context to this issue.
“The reporting of this spurious foreign exchange allegation by some media houses was turned down by some credible traditional and online media news until it was featured as a paid advertorial in two Nigerian newspapers BusinessDay and Leadership (Published on March 14, 2016) titled “Acts of Economic Sabotage by Dangote Cement” published in the name of David Osa Ighalo, from Benin, Edo State.
“It is saddening to note that this publication of Monday, March 16, 2016, in BusinessDay and Leadership newspapers wherein the author alleged that ‘monies went from the company in question to other sister Dangote Companies Outside Nigeria.”
The company said it was estimated that $3bn had been taken out of Nigeria through these means.
It stated, “This encourages round-tripping and, in effect, money laundering since there is no proper documentation has recently been given a fresh false slant by one Ahmed Fahad, purporting it to be a new petition directed to the attention of President Bola Ahmed Tinubu and Mr. Jim Obazee, the Special Investigator probing the CBN.”
BUA fired back in a statement, accusing Dangote of cheap attempts at blackmailing the company.
BUA alleged that in August 1991, “a young BUA was doing its commodities trading business just as Nigeria faced a scarcity of sugar. As sugar was scarce, BUA was lucky to be one of the few with any stock for sale, and we stood prepared to supply the nation’s needs as best as our stock could.”
It also stated, “It was during this period Aliko Dangote approached us to purchase sugar. If only we knew he was setting the first of many traps in our business history.
“He gave us a Societe Generale Bank of Nigeria cheque, which bounced upon presentation to the bank. Unbeknown to us, this was a ruse that would lead to a court-sanctioned freeze of our assets orchestrated by Dangote.
“For three agonising months, our accounts were garnished, warehouses shuttered, and our spirit tested. Yet, from the ashes of deceit, BUA survived.”
BUA also alleged that a few years later, it decided that since it was making good progress in its various businesses, it should open a sugar refinery.
The company said they approached Usman Dantata, Dangote’s uncle, and leased his NPA waterfront land (4.5 hectares) at the Tincan Island port, ‘Polo House.
It said, “We took the land, signed an agreement with the consent of NPA, and paid all applicable dues.
“Dangote waited until our contractors and equipment had been mobilised to the site, then he went to former President Obasanjo. President Obasanjo had the land revoked entirely and gave the lease to Dangote.
“As a result, even his uncle lost the land. BUA was only given 24 hours to vacate the land.”
BUA said it took them over a year to get another land, saying that its survival as a business, especially its Lagos sugar refinery was a legacy handed to it by a loving father who, seeing his son’s distress.
BUA stated, “With unwavering faith, our Chairman’s late father – may his soul rest in eternal peace – handed him the land on which our Lagos Sugar Refinery stands today.
“This land was the location of one of his thriving businesses with a warehouse, which he shut down handed to us without asking for compensation. He just saw the pain of our chairman, Abdul Samad Rabiu, called him one day and handed him the papers to the land. His gesture was a beacon of hope in one of our darkest hours.
“And so, BUA survived again another Dangote trap. Today, we are now the largest Sugar refining concern in West Africa.
“Our businesses continued to surge forward amid several other attempts, too many to mention now.
“In 2007, under President Yar’Adua’s visionary mandate to broaden Nigeria’s cement industry and break the monopoly in the sector, BUA was among the six companies selected and granted licences.
“Our approach was unconventional but effective: we introduced a floating terminal – ‘BUA CEMENT I’, which is a cement factory built into a large ship, as a stopgap while we were working on securing our land-based cement plant. “What followed, however, was another act intended to drive us out of business. Our application to dock the floating terminal in Lagos met with resistance.
“We then decided to berth the ship at the terminal we owned in Port Harcourt. Despite this, we faced considerable pushback and it took the decisive intervention of late President Yar Adua, who directed that the Minister of Transport and the Chairman of NPA honour our right to contribute to the nation’s growth,” the company explained.
“But the hurdles didn’t end there. The drama intensified when Orwell Brown, a Deputy Comptroller General who was also an older brother to a Dangote staff, launched a sudden strike, attempting to deport our vessel’s entire expatriate crew.
“It was a Friday that is forever seared into our memory-the shock of our expatriates rounded up, their confusion as they were shepherded onto a Dangote-funded one-way local flight from Port Harcourt to Lagos en-route Asia via Emirates.
“Upon hearing of what had happened, we reached out to Tanimu Yakubu, the then Chief Economic Adviser, who acted with the urgency that the situation demanded.
“His call to the CG of Immigration was a lifeline, and our expatriate team was brought back from the Emirates aircraft and not deported.
“The aftermath was swift action by the President, who ensured that such a misuse of power would not go unchecked. DCG Brown, caught in a tangle of undue influence, admitted what he did to the Minister, and he was later dismissed.”
Auto
Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT
Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT
Jetour Nigeria is taking its seven-seater X70 Plus SUV to Abuja as rising interest from motorists in the Federal Capital Territory and neighbouring states fuels the brand’s latest push to deepen its presence across Nigeria.
The X70 Plus will headline the Jetour Experience Abuja, holding from September 22 to 24 at Maha Event Centre, Area 8, Garki, following the strong response recorded during the Lagos edition, where motorists turned out for test drives and made enquiries about Jetour models.
The Abuja activation is designed to give prospective buyers direct access to the X70 Plus and other models, with opportunities to test-drive the vehicles, engage product specialists and experience their technology, safety and comfort features.
The X70 Plus is positioned as a family-oriented SUV, offering seven-seat capacity and a range of features targeted at customers seeking comfort, technology and practicality.
The SUV is available with 1.5-litre and 1.6-litre turbocharged engine options, with outputs of up to 145kW and 290Nm of torque, paired with a dual-clutch automatic transmission.
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Its safety equipment includes front, side and curtain airbags, Vehicle Stability Control, Hill-Start Assist, Hill-Descent Control and a 360-degree panoramic camera with 2D and 3D viewing modes. Advanced Driver-Assistance Systems are also available.
Inside the cabin, the X70 Plus features a 10.23-inch LCD touchscreen, dual-zone climate control with air purification, wireless charging, a panoramic sunroof and an eight-speaker audio system.
Jetour Nigeria, the authorised distributor of the brand in the country, currently operates through seven accredited dealers: Elizade Nigeria Limited, Mandilas Autos, R.T. Briscoe Motors, Germaine Auto Centre, Kojo Motors, Tab Autos Limited and New Era Auto Vehicle Services Limited.
The company said the dealer network supports vehicle sales, genuine spare-parts supply and after-sales services across the country.
Jetour has also received recent industry recognition in Nigeria, including Fastest Growing Auto Brand by the Nigeria Auto Journalists Association and Auto Brand of the Year at the Nigeria Transport Lecture and Awards.
The Abuja experience is expected to provide prospective customers in the FCT and surrounding states with direct access to the X70 Plus and other Jetour models as the brand continues its national market expansion.
Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT
Auto
Jetour Unleashes F700 Hybrid Pickup as Abuja Experience Begins Tuesday
Jetour Unleashes F700 Hybrid Pickup as Abuja Experience Begins Tuesday
Jetour is taking its premium pickup game to Abuja as the automaker prepares to showcase the powerful F700 hybrid pickup at the Jetour Experience Abuja, bringing a blend of electrified performance, luxury and rugged off-road capability to the Federal Capital Territory.
The three-day event, scheduled for September 22 to 24 at Maha Event Centre, Area 8, Garki, comes on the heels of strong reception in Lagos and is expected to draw commercial fleet operators, corporate buyers and luxury pickup enthusiasts keen to experience Jetour’s latest hybrid workhorse.
Following high-impact reception in Lagos, the Abuja activation, which holds at Maha Event Centre, Area 8, Garki, answers massive demand from commercial fleet leaders, corporate buyers, and luxury truck enthusiasts eager for an electrified workhorse built without compromise.
Jetour’s rapid ascendancy as Nigeria’s Fastest Growing Auto Brand and Auto Brand of the Year is backed by nationwide after-sales infrastructure, certified technicians, and genuine parts availability through its authorized dealer network including Elizade Nigeria Limited, New Era AutoVehicle Services, Germaine Auto Centre, Kojo Motors, Mandilas Autos, R.T. Briscoe and
Tab Autos.
The Ultimate Hybrid Powerhouse
Engineered on the heavy-duty platform of Jetour’s G700 luxury SUV, the double-cab F700 redefines utility.
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Stretching nearly 5.5 meters, it commands road presence via a high-tensile ladder-frame chassis and independent double-wishbone suspension engineered for punishing industrial demands and refined highway cruising alike.
Under the hood lies the revolutionary Kunpeng Super Hybrid CDM-O powertrain—pairing dual high-output electric drive motors with an onboard turbo petrol generator that seamlessly feeds the battery pack on the fly, eliminating range anxiety entirely.
According to Jetour, an advanced CATL 800V architecture surges the battery from 20% to 80% in just 10 minutes, achieving ultra-fast charging.
The vehicle delivers a monumental combined cruising range of up to 1,300 km on a single charge and tank, and achieves exceptional fuel economy, sipping as low as 1.39 L/100 km.
Conquering Terrain in First-Class Luxury
Engineered for unforgiving terrain, the F700 deploys Jetour’s intelligent XWD all-wheel-drive system governed by front, center, and rear mechanical differential locks.
With 9.5 inches of ground clearance and an imposing 900 mm water-wading capability, the F700 glides through deep water crossings, unpaved construction corridors, and rocky trails effortlessly.
Inside, the cabin abandons utilitarian compromises for bespoke executive refinement, featuring
35.4-inch Panoramic “Sky Screen” dominating the dash architecture.
Also, it features the 15.6-inch Central Command Touchscreen for seamless telematics and vehicle dynamics, Sculpted Luxury Finishes combining aviation-grade acoustic insulation, premium materials, and active driver-assist safety suites.
The three-day Jetour Experience Abuja will feature live technical walkarounds, rugged dynamic tests, and hands-on driving trials at the capital.
Jetour Unleashes F700 Hybrid Pickup as Abuja Experience Begins Tuesday
Auto
26th Abuja Motor Fair: NADDC, BKG Set November 10 Date for Auto Industry Show
26th Abuja Motor Fair: NADDC, BGK Set November 10 Date for Auto Industry Showcase
The National Automotive Design and Development Council and BKG Exhibitions Ltd have unveiled plans for the 26th Abuja International Motor Fair, scheduled to hold from November 10 to 13, 2026, at Eagle Square, Abuja.
The four-day event is expected to bring together major players across the automotive value chain, such as vehicle manufacturers and assemblers, component producers, financial institutions, technology firms, transport operators, logistics companies, development partners, investors and government agencies.
A three-day conference will also feature prominently at the fair, with the theme, “Driving Nigeria’s Automotive Transformation: Policy, Production, and Prosperity.”
A statement on Friday by BKG Exhibitions said the conference would examine key issues shaping the development of Nigeria’s automotive industry, with speakers drawn from various sectors of the industry and related fields.
Chairman of the Organising Committee and Managing Director of BKG Exhibitions, Mr Ifeanyi Agwu, said the conference would feature a keynote address by the Director-General of NADDC, Otunba Joseph Osanipin, alongside presentations and speeches by leading stakeholders in the automotive and transport sectors.
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According to him, the fair will provide participants with opportunities to engage industry leaders, investors, government officials and business executives while exploring emerging vehicles, technologies, products and investment opportunities.
Other highlights of the event are the Nigeria Automotive Excellence Awards Night, Abuja Automotive Road Show, Ultimate Test-Drive experience, exotic automobile displays and the Automotive and Future Mobility Arena.
Visitors will also have access to professional advice, technical papers and a showcase of some of Abuja’s finest cuisine.
The Abuja International Motor Fair has, over the years, evolved into one of Nigeria’s major automotive exhibitions and platforms for industry and policy dialogue.
The organisers said this year’s edition would further strengthen the platform’s role in promoting investment, innovation, local production and sustainable growth across Nigeria’s automotive sector.
26th Abuja Motor Fair: NADDC, BGK Set November 10 Date for Auto Industry Showcase
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