- Both parties issue joint statement on cordial sugar supply, pricing
Leading Nigerian business entrepreneurs and top sugar producers in Africa, Aliko Dangote, Chairman Dangote Group of Company and Abdul Rabiu, Chairman BUA Group have quelled disputes relating to control over sugar pricing, demand and supply in the Nigerian market.
- Soaring import stifles self-sufficiency goals on local sugar output
- Dangote Fertiliser plant will foster UN development goals, says envoy
- Dangote Cement rated major contributor to Senegal’s economic development
- Insecurity: Nigeria and its contiguous neighbours
- Nigeria, ravaging locusts and road to the forlorn (1)
The two business tycoons and major competitors in the sugar trade, during a meeting brokered by Abdullahi Ganduje, Kano State governor held on Wednesday, April 14 in Abuja, agreed to work harmoniously towards ensuring a fixed price for sugar and smooth supply of the commodity to consumers without posing threats or causing disruptions in the market.
It would be recalled that the media had been awash earlier last week with stories stating that the businessmen were engulfed in a trade dispute over the control of sugar sales. While Dangote had accused BUA of attempting to appropriate undue advantage in the sugar market, BUA on the other hand had accused Dangote of monopolising the sugar market as well as manipulating prices in his favour.
In a bid to therefore halt the unfavourable situation, the Kano State governor invited the duo to the meeting attended by Aminu Dantata, Kano State statesman and business entrepreneur, Niyi Adebayo, the Minister of Industrial Trade and Investment, Sarkin Babba, the representative of the Emir of Kano, Adamu Fanda, chairman, NEPZA as well as other dignitaries.
Commenting on the sugar dispute, Dangote and Rabiu both dismissed as untrue the allegation that Dangote was pressurizing the BUA chairman to increase the price of the product. The duo also promised to work amicably to ensure that the price of sugar is stabilised and market demand is effectively met by both companies.
On their parts, Aminu Dantata and the Kano State governor admonished the two businessmen on the danger a trade dispute between both of them would cause the Nigerian economy and encouraged them to avoid any possible misunderstanding in the future.