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Billionaire’s war! I’ve borne your wickedness for 32 years, BUA counters Dangote
There seems no letup in the internecine war between BUA Group and Dangote Industries Limited (DIL), two of Nigeria’s elite industrial concerns, indicating that Nigerians might be in for a long period of bitter clatter of offensive weapons that might be coming from the pair as they dip deeper into the morass the seemingly endless conflict.
On Friday, Dangote, owned by Africa’s Richest Man (ARM), came out smoking, accusing BUA, owned Abdul Samad Ishiaku Rabiu, of being behind the campaign that DIL of underhand deals with the Central Bank of Nigeria (CBN), under the now embattled Governor, Godwin Emefiele, where it was said to have illegally obtained a whopping $3billion.
The BUA group, which incidentally is in the same business of sugar, cement, and other concerns, was specifically accused of sponsoring publications in the media to smear Dangote, a move which it reportedly began in 2016, while denying that it ever engaged in untoward practices in its dealings, including that of engagement with the apex bank.
But in a quick riposte, BUA came out with a detailed story of Dangote’s series of attacks against the company in apparent bid to sink its operations, directly accusing the ARM, of direct involvement, including influencing several governments for this purpose, but had at each point not succeeded, while also denying that it had no hand in the present ordeal of the rival company.
Read the detailed story: “It’s with a profound sense of responsibility and a heavy heart that we address the claims and very cheap attempts at blackmail levelled against BUA by Aliko Dangote in a recent 7-page editorial following months of sponsored campaigns of calumny against us using third-party platforms. To put things in perspective, it’s imperative to revisit history—a history not of rivalry but of resilience; not of enmity, but of endurance.
“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 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 garnisheed, warehouses shuttered, and our spirit tested. Yet, from the ashes of deceit, BUA survived. (see attached court order)
“Fast forward a few years later, we decided that since we were making good progress in our various businesses, we should open a sugar refinery. We approached one Usman Dantata (now late), Aliko Dangote’s uncle, and leased his NPA waterfront land (4.5 hectares) at the Tincan Island port, ‘Polo House’. 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.
“It took us over a year to get another land. How? Our survival as a business especially our Lagos sugar refinery is a legacy handed to us by a loving father who, seeing his son’s distress, did what only the noblest and kindest of hearts could do. 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 and 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 licenses. 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.
“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.
“Through all these tribulations, BUA’s resolve has only strengthened. These events narrate not just the trials of a company but the resolve of its people, bound together by a shared vision and an unwavering belief in justice and fairness.
We also know what transpired whilst we were building our Edo Cement Plant. Everyone knows the issues we faced. The plant we are operating in Edo would not have been operating and contributing immensely to the economy, if not for the former President Buhari who had to intervene by calling Governor Obaseki that no staff must lose their jobs and the plant must not be shut down, no matter what happens. We cannot say more as the matter is currently sub-judice – and is at the Supreme Court. During that time, Edwin Devakumar and Sunday Esan (two long-time and current staff of Dangote) were caught in leaked emails, whose content were not limited to sending thugs to foment trouble, close our factory as well as pushing bad press against us (See emails attached).
“Same thing happened again with our Port Harcourt sugar refinery – the only sugar refinery in Nigeria that is outside Lagos. Dangote utilized every means possible to ensure the refinery did not take off and we raised the alarm. At some point, the terminal was taken away from us and was to have been given to someone else at the behest of Dangote. There had to be a presidential intervention again for NPA to do the right thing. Yet, we survived.
“For over 32 years, we have been cast as the antagonists in a narrative woven with malice. We have not just survived; we have thrived, expanding our operations and contributing to Nigeria’s economy without resorting to subterfuge.
“To Mr. Dangote and the Dangote Group, we say: Let us build, not belittle. Let us cultivate, not conquer. While we may share the marketplace, we need not share malice. We have nothing to do with your self-inflicted issues. Blame no one but yourself.
In closing, we at BUA remain committed to our ethos of innovation, integrity, and inclusiveness. Our history is not one of being handed anything on a silver platter. We will continue to serve our beloved country and its people with the diligence and honour they deserve. Our past, present, and future activities are rooted in the prosperity of Nigeria, undeterred by the winds of unfounded criticism. We remain focused on building and developing Nigeria.”
After years of public outcries by individuals, groups and civil society organisations, the Imo State Police Command finally took steps against the controversial Anti-Kidnapping Unit, popularly known as Tiger Base.
The agency, described by many as notorious for rights abuses, was scrapped, by the Command, along with other tactical squads with similar identities, which have now been replaced with a newly created Violent Crime Response Unit (VCRU) aimed at tackling rising violent crimes across the state.
The development was announced at the Police Command Headquarters in Owerri, the Imo State capital, marking one of the most significant policing reforms in the state in recent years following growing public concerns over the activities of Tiger Base.
Other tactical formations affected by the disbandment include the Scorpion Unit and the Lion Squad, whose operations were closely linked to the now-defunct outfit.
Speaking during the inauguration of the new unit, the Commissioner of Police, CP Audu Garba Bosso, said the reform was in compliance with the directive of the Inspector-General of Police, Kayode Egbetokun, to reposition tactical operations nationwide and strengthen professionalism within the Force.
Bosso said the newly established VCRU would focus on intelligence-driven operations against armed robbery, kidnapping, cultism, terrorism, illegal possession of firearms, and other violent crimes.
According to him, officers drafted into the unit were carefully selected based on competence, discipline, integrity, and operational experience.
He disclosed that the operatives had undergone intensive training in tactical response, intelligence gathering, crisis management, and human rights compliance to ensure lawful and professional conduct.
“The inauguration of the VCRU reflects our commitment to professional policing, public safety, and improved service delivery to the people of Imo State,” the police commissioner stated.
In a move seen as an attempt to rebuild public trust, the command also inaugurated a Civilian Oversight Board comprising representatives of the Nigerian Bar Association, civil society organisations, traditional rulers, religious leaders, and the Nigeria Union of Journalists.
The board is expected to monitor the activities of the unit, receive complaints from members of the public, and provide independent feedback to the Commissioner of Police.
The event attracted top government officials, heads of security agencies, members of the Police Community Relations Committee, youth organisations, and human rights groups.
Governor Hope Uzodinma, represented by the Chief Principal Security Officer, ACP Gboyako Shaba Adamu, commended the initiative and pledged continued support for security agencies in combating insecurity across the state.
Observers believe the scrapping of Tiger Base and the creation of the VCRU may signal a new chapter in tactical policing in Imo State, especially amid increasing calls for accountability and respect for human rights by security operatives.
The ceremony featured the unveiling of the VCRU logo, presentation of its operational dress code, and goodwill messages from stakeholders.
Residents were urged to support the new unit with credible information to aid crime-fighting efforts across the state.
Nigeria Democratic Congress (NDC) has released a list of nomination fees for all its elective positions in 2027, with that of presidential office pegged at N60million – N20million for Expression of Interest and for Nomination Forms, respectively, while putting that of the governorship at N30million.
The forms which would be on sale from Wednesday, would also has those of the Senate put at N8million cumulatively, that of the House of Representatives is pegged at N6million, while aspirants for Houses of Assembly in states are to pay N2.5million.
In a statement signed by Moses Cleopas Zuwoghe, National Chairman and Ikenna Morgan Enekweizu, National Secretary the party also released the timetable and deadlines for the purchase and return of the forms.
Specifically for the governors, the NDC fixed N10 million and N20million for the Expression of Interest and Nomination Forms, respectively, N3 million and N5 million respectively, for the Senate and N2 million and N4 million for the Nomination Forms respectively for the Reps.
State House of Assembly aspirants would be required to pay N1 million for the Expression of Interest and N1.5 million for the Nomination Forms respectively, the statement said, adding that sale of the forms for all elective positions would commence Wednesday, May 13, 2026, and close on Monday, May 18, 2026.
All aspirants would undergo screening and interviews between May 19 and May 21 before becoming eligible to purchase Nomination Forms, the statement noted, adding that the sale of Nomination Forms would commence immediately after the screening exercise and run from May 21 to May 23, while completed forms must be returned not later than May 25.
Disclosing that appeals arising from the screening process would be handled on May 25 and 26, while primary elections for various offices would hold on May 27 and 28, the party put its presidential primary election for May 29, 2026, in Abuja.
While aspirants for the state assemblies would be screened in their respective states, those for National Assembly and presidential aspirants would take place at the party’s national headquarters in Abuja.
For the governorship primaries the assignment would be conducted at the local government level, the statement said, adding that all aspirants seeking its tickets would be required to sign undertakings in line with the party’s code of conduct and electoral guidelines.
Assuring members and aspirants of what it described as a transparent, inclusive and credible primary process capable of producing competent candidates for the 2027 elections, the statement said: “The party remains committed to a transparent and democratic process that guarantees fairness, inclusiveness and internal democracy in the conduct of its primaries.”
In the conduct of the primaries, the party said it had adopted “open secret ballot” system, to strengthen credibility and transparency during delegate voting, adding that its nomination fees remained among the lowest when compared with those charged by other major political parties in the country.
Announcing concessions for female aspirants and persons living with disabilities, the statement said while women would pay only 50 per cent of the approved fees, while PWDs would enjoy a 75 per cent waiver across all categories.
The statement further added: “The Nigeria Democratic Congress (NDC) has officially announced the commencement of the sale of Expression of Interest and Nomination Forms for aspirants seeking to contest various elective positions on the platform of the party ahead of the 2027 general elections.
“The screening and interview of aspirants, which will determine eligibility for the purchase of Nomination Forms, will hold from Tuesday, May 19, to Thursday, May 21, 2026. The sale of Nomination Forms will commence immediately after the screening exercise, from Thursday, May 21, to Saturday, May 23, 2026, while completed forms must be submitted on or before Monday, May 25, 2026.
“The NDC further stated that appeals arising from the screening process will be entertained on May 25 and 26, while primary elections for various elective offices are scheduled to hold on May 27 and 28, 2026.
“The Presidential Primary Election is slated for May 29, 2026, in Abuja.
“The party explained that aspirants seeking tickets for State Houses of Assembly will be screened in their respective states, while screening for aspirants to the National Assembly and Presidential positions will be conducted at the party’s National Headquarters in Abuja.
“It also disclosed that governorship primaries would be conducted at the local government level. All aspirants will be required to sign an undertaking in line with the party’s guidelines and code of conduct.
“The NDC assured members and aspirants of a transparent, inclusive, and democratic process in the sale of forms and conduct of primaries.
“The party also announced that it would adopt the “open secret ballot” system for its primaries in order to guarantee credibility, fairness, and internal democracy.
“The NDC noted that its approved nomination fees remain among the lowest compared to those of other major political parties in the country.
“A breakdown of the approved fees is as follows:
- State House of Assembly:
Expression of Interest Form – N1 million
Nomination Form – N1.5 million - House of Representatives:
Expression of Interest Form – N2 million
Nomination Form – N4 million - Senate:
Expression of Interest Form – N3 million
Nomination Form – N5 million - Governorship:
Expression of Interest Form – N10 million
Nomination Form – N20 million - Presidency:
Expression of Interest Form – N20 million
Nomination Form – N40 million
Meanwhile, female aspirants and persons living with disability (PWDs) are to pay 50% and 25% of the fees across all categories.
“The party reaffirmed its commitment to a transparent and credible primary election process capable of producing competent candidates for the 2027 general elections.”
For President Bola Ahmed Tinubu there is no other way for African countries to get out of the woods but to engage in massive industrialisation – transforming their rich mineral resources into finished products rather than exporting them in their raw states.
This was the major highlight as he took the podium on Tuesday at the ongoing Africa Forward Summit at the Kenyatta Convention Centre in Nairobi.
Tinubu, who led Nigeria’s government, diplomatic, and business delegation to event, told his audience that Nigeria was ready to assist in the deeper economic integration and industrial growth and prosperity he envisaged for the continent.
Highlighting Nigeria’s blue economy potential as a key driver of Africa’s development, and decrying its underutilisation due to insecurity and uncertainty, he said: “Today, I make an explicit commitment: Nigeria will intensify regional coordination by offering our Deep Blue Project’s maritime intelligence infrastructure as a shared data hub for willing Gulf of Guinea states.
“Interoperable systems, harmonised laws, and seamless joint enforcement must become the daily reality, not an aspiration on paper. Let no one misunderstand: maritime sovereignty does not repel investment — it attracts it. Secure sea lanes, predictable regulation, and functional courts are the preconditions that unlock private capital. Governance has de-risked Nigeria’s maritime proposition. We now invite partners to build on these gains as we advance climate-aligned port modernisation and the digital transformation of our maritime sector.
“As we endorse the Nairobi Declaration, Nigeria affirms that maritime sovereignty and ocean governance are the non-negotiable foundations of Africa’s Blue Economy transformation. We will continue to earn that sovereignty — through institutions, through assets, through law, and through iron-clad regional solidarity that turns our waters from a theatre of risk into a story of shared resilience.
“The oceans have no duplicate as a common heritage of mankind. For Africa, moving from sea blindness to ocean sovereignty is not a choice — it is a generational duty. Nigeria is ready, and we invite all present to join us in that duty.”
Blaming international financial system, for the poor state of industrialization in Africa, Tinubu insisting that Africa must not remain locked into raw-material exports while importing finished goods.
Hear him: “Last September, from the podium of the United Nations General Assembly, Nigeria warned that the international system must reform or risk irrelevance. We spoke not only of the Security Council but of the financial and trade structures that quietly de-industrialise our nations. The evidence is before us. Despite decades of independence, Africa’s share of global manufacturing value added remains below 2 per cent.
“We export raw minerals, crude oil, and agricultural commodities, and we import processed goods at a premium. This pattern is not an accident. It is the product of a global financial architecture that starves our industries of affordable capital, tolerates massive illicit financial flows, and imposes policy constraints that our competitors themselves never observed when they built their own industrial bases.
“Nigeria does not come to this discussion as a supplicant. We come as a nation that has taken painful, homegrown decisions to put our house in order — removing fuel subsidies, unifying our exchange rate, recapitalising our banking system with over US$3.4 billion, and exiting the FATF grey list. These reforms were sovereign choices, not external conditions. They have delivered a declining debt-to-GDP ratio, now projected at 32.3 per cent in 2026, stronger external reserves of $45.5 billion, and a return of investor confidence. But, Excellencies, even a reforming nation like Nigeria is being forced to de-industrialise by a financial system that is stacked against us.”
The President added that in 2026, Nigeria will spend about US$11.6 billion on debt servicing — nearly half of projected revenue.
“Every single dollar that leaves our treasury to pay punitive interest rates is a dollar that did not go into our steel sector, our textile mills, our agro-processing plants, or our digital industries. It is a dollar that did not train a young Nigerian engineer or provide affordable power for our factories. Our industrial base is being starved of the blood it needs — long-term, affordable finance — while creditors and rating agencies treat African sovereigns as permanent high-risk borrowers, regardless of our fiscal performance.
“So, I ask this gathering: how can an African manufacturer compete with a competitor in Europe, Asia, or North America when the cost of borrowing in our nations is five to ten times higher? How can we build cross-border industrial value chains under the African Continental Free Trade Area when our infrastructure projects face a financing gap deepened by the very institutions meant to bridge it? The answer is plain: we cannot. The international financial architecture, as currently constituted, is an instrument of industrial disarmament for Africa.
“Nigeria is not asking for charity. We are demanding a financial system that intentionally enables Africa to industrialise — to process its own minerals, refine its own crude oil, manufacture its own pharmaceuticals, and compete fairly in global markets. We will continue to borrow responsibly, but we insist that our creditworthiness be measured by our economic fundamentals and our industrial potential, not by outdated stereotypes,” he noted.
On migration, Tinubu said addressing root causes was essential, stressing that people would not risk dangerous journeys if opportunities existed at home.
He said Nigeria had embedded migration management within its broader economic reforms, including subsidy removal, banking recapitalisation, and agricultural modernisation.
He also called on international partners to increase investments in climate adaptation, energy access, digital skills, and job-creating sectors, urging that a portion of Official Development Assistance (ODA) be directed toward reducing irregular migration pressures.
Tinubu also called for stronger African cooperation in shaping global migration governance, saying existing frameworks such as the Global Compact for Safe, Orderly and Regular Migration remained insufficient due to their non-binding nature.
He expressed support for African Union initiatives including the Migration Policy Framework and the Khartoum Process, while urging stronger links between regional and global systems.
The Africa Forward Summit, co-hosted by Presidents Emmanuel Macron and William Ruto, brought together leaders and officials from over 30 countries.
Opening statements were delivered by Macron, Ruto, UN Secretary-General António Guterres, and African Union Commission Chair Mahamoud Ali Youssouf.
On the sidelines, Tinubu met Madagascar’s President Michael Randrianirina and held talks with CAF President Patrice Motsepe, where he reaffirmed Nigeria’s readiness to host the 2026 CAF Awards.
He was accompanied by senior government officials, including ministers of foreign affairs, finance, agriculture, marine and blue economy, environment, industry, communications, as well as leading private sector figures such as Aliko Dangote, Tony Elumelu, Abdulsamad Rabiu, and Aigboje Aig-Imoukhuede.
The summit featured discussions on investment, AI, digitalisation, agriculture, creative industries, climate change, and strategies to translate policy discussions into industrial development across Africa.
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