The Chairman and Founder of the BUA Group, Alhaji Abdulsamad Rabiu in this interview spoke about a wide range of issues which included opportunities in the African Continental Free Trade Area agreement as well as the need to liberalise the cement industry so as to boost production and subsequently crash the price of the commodity. Obinna Chima and Goddy Egene provide the excerpts:
The BUA Group recently sealed a deal for a refinery project, can you take us through the expectations from that project and when is it expected to be commence production?
Nigeria is consuming a lot of petroleum products and we spend a lot of revenue in importing refined products. We spend a lot of money to transport crude oil and bring back the finished products. Most people ask why we are setting up a refinery when a big project that people believe would be producing a substantial amount is coming up. I believe Nigerians consume about 50 million litres per day. Then again, if you look at the region, there is a huge potential. If you also look at it, the timing and the location that we have is better than any location.