What can learnt from Dangote, Rabiu
TWO leading Nigerian businessmen, Abdul Samad Rabiu of BUA Group and Alhaji Aliko Dangote of the Dangote Group, have shown all that truly the “sky is big for all birds to fly” and two people can excel in the same thing without being enemies.
For years, the duo has been the leading producers of cement in Nigeria and share many similarities. They both hail from Kano State.
During the week, Rabiu kick-started a move to build a refinery in Nigeria by collaborating with France’s Axens. The new project will go head-to-head with a refinery project being built by the Dangote Group.
While some industry watchers may conclude that Rabiu is only trying to continue a rivalry as he seems to be interested in everything Dangote does, the sector is big enough for more players to come in, which will be in the best interest of Nigeria as a country. It is on record that Nigeria imports 90% of its petroleum products and spends 35% of the country’s foreign exchange on importing petroleum products.
Also, healthy competition is allowed in businesses provided all parties are winning. That seems to be the case between Dangote and Rabiu.