French President, Emmanuel Macron has inaugurated the France-Nigeria Business Council, a private sector initiative to enhance business relations between the two countries with the Founder/Chairman of BUA Group, Abdul Samad Rabiu, as the inaugural president of the council.

The newly inaugurated council has Gilbert Chagoury of Chagoury Group; Mike Adenuga, Chairman Globacom; Aliko Dangote, Chairman Dangote Industries; Tony Elumelu, Chairman UBA & Heirs Holdings, and Herbert Wigwe, CEO, Access Bank as the Nigerian members of the council, according to ThisDay.

The largest French companies including Dassault, Danone, Axens, Ponticelli and Total Energies are also members of the council.

What the Chairman of BUA Group said

Rabiu in a statement expressed gratitude to the French President for his vision in creating the French Nigeria Business Council which he said had led to a reset in the business relationship between Nigeria and France and has created a viable platform for businesses from both countries to partner and improve ties.

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He said, “Nigeria is blessed with numerous potentials for French companies to do business across different areas, notably solid minerals, mining, manufacturing, agriculture, associated equipment, power, food processing, and even in the business of associated equipment or infrastructure for the value chains of these sectors.

Where French businesses have formerly been risk-averse or outrightly unable to do business with Africa’s largest economy, they can now be assured of a platform through which they can penetrate and mutually grow the market. Where Nigerian companies had not seen French companies or the French market as a viable destination due to a lack of information, they can now be sure of a platform to facilitate this. This is all thanks to President Macron’s foresight and vision.”

The BUA Chairman also thanked President Macron for appointing him to be the first President of the France-Nigeria Business Council and pledged to use the platform to create better opportunities for businesses on both sides.

Speaking at the inauguration, Macron, praised the BUA Chairman and newly appointed president of the council for having confidence in French businesses which led to a partnership for BUA’s new 200,000 barrels per day refinery. He also pledged his government’s support to facilitate better dialogue amongst the Nigerian businesses present and their French counterparts.

In case you missed it

It can be recalled that in April 2021, President Macron through the French Minister for Foreign Trade and Economic Attractiveness, Franck Riester invited the Chairman of BUA Group, Abdul Samad Rabiu, to attend the Choose France Summit in Paris.

The French President also commended Rabiu for his commitment to developing lasting relationships between French and Nigerian businesses.

The BUA Group and a French company, Axens, a few months ago, signed a progress acknowledgement statement for BUA’s proposed 200,000 barrels per day refinery in Akwa Ibom.