Capital expenditure is there, and it’s quite a bit of money. Words mean more than what is set down on paper. BUA’s sugar venture has been a cash cow. It takes the human voice to infuse them with deeper meaning. Abdul Samad Rabiu, son of Isyaku Rabiu was born in Kano, Nigeria where he did his early education. “We’ve known each other since childhood. BUA further enhanced its scope of operations and ventured into steel, billets and iron ore importation and supplying multiple rolling mills in the country. With the substantial profits he had made from the steel venture, Rabiu invested in Tropic Commercial Bank, which operated in Nigeria. Rabiu says he planned to head to China for a meeting with CDMI, a Chinese cement plant manufacturer, to put up another plant in Ilaro. The government agencies tried to seize the goods, so we were discharging. “Everybody says we have issues with infrastructure and power; it’s nonsense. Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. He had most of his early education in Kano and later obtained his Bachelor Degree in Economics from Capital University in Columbus, Ohio. Glusea brings to you Abdul Samad Rabiu net worth. “The price of cement in Nigeria is probably the highest anywhere in the world, apart from possibly Zambia, at $8.80 per bag, which is $173 per ton. Margaret 04/09/2020 At 1:39 am. I had to take a lot of important decisions, and don’t forget that this happened suddenly,” says Rabiu. In the capital, Abuja, Rabiu’s BUA group has a huge housing project of 200 homes to be completed by early next year. Abdulsamad Rabiu, a Nigerian businessman and industrialist, has increased his fortune from $1.6 billion in 2019 to $3.1 billion in 2020.. ( Log Out / Abdul Samad Rabiu, Executive Chairman/CEO, BUA Group(left) and Wamkele Mene, Secretary-General AfCFTA, during his courtesy visit by the AfCFTA Secretary-General to BUA headquarters in Lagos. “We want to capture part of the south western market, because that is the biggest market in Nigeria today,” he explains, adding that Nigerian demand is greater than estimated. Alhaji Isyaku Rabiu was the head of a very large family of four wives and many children. Mr Buhari commends the large-heartedness of the business mogul. Abdulsamad Rabiu, is the billionaire (net worth $1.2 billion) chairman and CEO of BUA Group, a privately-owned conglomerate with annual revenues estimated at $2 billion, and interests in manufacturing, port concessions, real estate development, oil & gas and shipping.BUA Group started business in 1988 as a Private Limited Liability Company specializing in the importation and marketing … It doesn’t make sense at all,” laments Rabiu. Besides his assets in the BUA Group, Rabiu owns property in Britain worth $62 million, and in South Africa, worth $19 million. He grew the business, he did everything, everybody reported to him, and then he wasn’t there anymore. Production at the Delta Steel Company had been beggared by the Nigerian government’s decision to reduce grants. “The biggest challenge was that there were restrictions on confirming letters of credit because of the coup. Abdul Samad Rabiu, a graduate of Economics from Capital University in Columbus, Ohio was instrumental to the successes recorded by his father’s business empire as an Executive Director before establishing BUA International Limited in 1988 solely for trading and importation of rice, edible oil, flour, iron and steel. Acquisition of the Largest Edible Oil Processing Company in Nigeria. I just got rid of it.”. Making Africans proud! Reply. Olatorera Consultancy Limited is a new-generation consulting company providing business development and consulting services to established companies and high net-worth individuals. Abdul returned to Nigeria at the age of 24 to overseer the family business. “We want to ensure that we have at least 30,000 hectares cultivated for sugar plantation in the next three years. Abdul Samad Rabiu : Débuts. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a […] On his part, the Governor of Kwara State, Abdulrahman Abdulrazaq thanked for Abdul Samad Rabiu for his investment and his commitment made to end the COVID-19 pandemic in the state. In 1995, BUA acquired Nigeria Oil Mills, a peanut processing company in Kano, for more than $20 million. ( Log Out / Abdul Samad Rabiu is a foremost industrialist, billionaire businessman, philanthropist and the Founder/Executive Chairman of BUA Group – a company which he founded in 1988 and has become one of Nigeria’s largest privately owned foods, mining and infrastructure conglomerate with diversified investments spanning across key business sectors of the Nigerian economy. Nigeria is the largest importer of steel and steel products in sub-Saharan Africa. Hear our Founder/Executive Chairman, Abdul Samad Rabiu speaking to CNN on the Future of Africa as a hub for industry and innovation. This is Abdulsamad Rabiu, the unassuming Nigerian business tycoon, full of life, with a keen ear and a great business story. Refineries in Nigeria can be like buses: you wait for ages, and then three come along at once. “Nigerian cement mogul Abdulsamad Rabiu, who runs and owns the BUA Group, returns to the list for the first time since 2015. A List Of His Other Achievements. The first step was to secure a license to import cement. Here are 10 things you probably didn’t know about the Nigerian billionaire, Abdulamad Rabiu: 1. When we started, our dad was not there. Power is cheap in Nigeria. On forbes lists #1425 Billionaires 2019 #16 Africa’s Billionaires 2019 Stats. Abdul Samad Rabiu est né à Kano, dans le nord-ouest du Nigeria. His ambitions are anything but, as revealed by his plans to invest more than $500 million in Nigeria’s economy over the next few years. C’est là qu’il suit sa scolarité. Rabiu now owns 97% of … Abdul Samad Rabiu, son of Isyaku Rabiu was born in Kano, Nigeria where he did his early education. Change ), You are commenting using your Twitter account. He said “On behalf of my family, the people and government of Kwara State, I congratulate the founder and chairman of the BUA Group, Alhaji Abdul Samad Rabiu (CON), on his 60th birthday anniversary. Two years later, BUA Flour Mills’ first factory was established in Lagos. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. ReDahlia 09/05/2020 At 6:22 pm. BUA set out to meet the requirements, starting with the acquisition of the Cement Company of Northern Nigeria (CCNN) for nearly $100 million from Scancem International in 2007. And checks revealed the reason for this is simple. It’s around $40 anywhere else in the world. The company was able to reap huge margins due to the difference in duties for imports of raw sugar, which was 5%, and that of finished, or white, sugar, which is 50%. Reply | Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. He returned home to find his father’s business in a precarious state following his incarceration. Rabiu jets around the world on an 8-seater Gulfstream G550 worth $44.9 million, powered by a Rolls-Royce BR710 turbofan engine, as well as an $18-million Legacy 600 aircraft. It was a trying period for the Rabius. A l'âge de 24 ans, il retourne au Nigéria pour s’impliquer dans l’entreprise familiale. Rabiu exudes an … FORBES AFRICA, working with FORBES magazine in the U.S., calculates that Rabiu’s stake in his commodities and cement empire, plus his real estate holdings in South Africa and London, are worth $1.2 billion, up from $670 million a year ago, primarily due to better information on Rabiu’s holdings and the revenue of his companies. He set up his own business in 1988, importing rice, sugar and edible oils as well as iron and steel rods. The company was considering approaching private business to finance the procurement of raw materials and Rabiu saw the promise. He also owns a penthouse at The One & Only Hotel, in Cape Town. At the end of his tenure, he left the BOI richer and stronger than he met it thus making him the best thing to happen to the bank in a while. Founder of BUA Group, Abdul-Samad Rabiu, has announced a donation of N1 billion cash through the BUA Foundation. H e is also a recipient of several awards, as in 2011 he was honoured as Commander of the order of the Niger (CON) one of the most prestigious honours in Nigeria. Although people seem to think that we are doing the sort of business that Aliko is doing, I keep telling them that this is a business that my family has been involved in before Aliko even started.”. The company was involved in in the importation of rice, edible oil, flour, and iron and steel. He became the chairman of the bank after buying a majority shareholding. According to Forbes 2020, Abdul Samad Rabiu has a net worth of $3.2 billion which ranks him 716th in the list of global billionaires club. This is the case of Abdul Samad Rabiu, the son of Khalifah Isyaku Rabiu, a renowned Kano businessman who made fortune in trade and industry in the 1960s and 1970s. Since it would have taken over a year to build one, Rabiu made the smart move to acquire a floating terminal. Among his children were his first son, Nafiu Rabiu, a prominent businessman; Abdulsamad Rabiu, the Chairman/CEO, BUA Group; and Rabiu Rabiu an equally successful businessman with extensive interests in aviation. 2016: Nigeria's Kaduna refinery expected to resume by mid-April - NNPC: RE. Lui ,c’est Abdul Samad Rabiu, fils de Khalifah Isyaku Rabiu, un des plus grands grands entrepreneurs du continent africain et l’un des plus grands philanthropes de la planète. Rabiu simply focuses on his enterprise and applies himself to it conscientiously and with a towering sense of personal and professional business ethics. “We are both from Kano and our parents were doing more or less the same kind of business, so we grew up in the trading environment. We were taking back. Afficher les profils des personnes qui s’appellent Abdulsamad Rabiu. He is working so hard to close in on his city man. Few years down the line, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria and later set up 2 flour milling plants in Lagos and Kano in 2005. https://highstreet.ng/this-is-our-nigeria-abdul-samad-rabiu-con The dwarfing feats being recorded by his BUA industry has transformed him a man to be courted on all fronts and seen with to be taken seriously by the powers that be. Sa'adatu Abdullahi 09/05/2020 At 5:59 am. He then proceeded to Capital University in Columbus, Ohio to further his education and returned to Nigeria at the age of 24 to oversee the family business at the time his father was detained by the administration of General Muhammadu Buhari on the allegation of duty aversion on rice imports. Abdul Samad Rabiu : Le siège social a continué de fonctionner, en télétravail, mais nos usines ont dû réduire leur activité. Rabiu, the son of a businessman, inherited land from his father. The company went on the acquire a controlling stake in a publicly listed Cement Company of Northern Nigeria in 2009 and commenced the construction of a $900 million cement plant in Edo State commissioned early 2015. Je sais où sont les opportunités, où est l’argent. The country does not have an integrated steel plant. Rabiu’s taste for good living is plain to see; he has bought homes from Eaton Square to Avenue Road, also known as Millionaires’ Row. Abdulsamad Rabiu a une licence en économie (Université Capitale, Colombus - États-Unis) Il fut honoré avec le titre de Commandeur de l’ordre du Niger; Monsieur Abdulsamad Rabiu est musulman. Remember the $1billion ultramodern […] Gas is cheap. He next attended Capital University in Columbus, Ohio, and returned to Nigeria at the age of 24 to oversee the family business. Abdulsamad Isyaku Rabiu was born on 4 August 1960 in Kano, Nigeria. Abdulsamad Rabiu a une licence en économie (Université Capitale, Colombus - États-Unis) Il fut honoré avec le titre de Commandeur de l’ordre du Niger; Monsieur Abdulsamad Rabiu est musulman. The Kano flour factory was launched in 1998. While cement has been a key focus of the group’s activities in recent years, Rabiu also has his eyes on the steel industry. He imported rice, sugar and edible oils, as well as iron and steel rods. At the same time, we are also looking at Ilaro, west Nigeria.”. Olatorera Consultancy provides the seal and stamp of Africa’s Best to enable great companies compete stronger on a global scale. Abdul Samad Rabiu, comme un bon musulman, consacre d’importantes ressources à la philanthropie à travers de la Fondation BUA His matchless finesse as BUA Chairman landed him the privileged role of the Bank of Industry (BOI)’s substantive Chairman until his retirement. How Did Abdulsamad Rabiu Become Chairman Of Nigeria’s Bank Of Industry? The payment method was favorable for Rabiu and his company because the price of the products was government controlled. Rabiu wants to see the price of products decrease so that demand will increase. The Africa 2018 Forum is an international, landmark event hosted under the … He gives the impression of one who values his achievements and success, but does not wear it on his sleeve. “We knew it was coming, so we decided to put up our own plant in Edo cement. Abdul Samad Rabiu, son of Isyaku Rabiu was born in Kano, Nigeria where he did his early education. Over the years, the duo have become synonymous with cement in Nigeria, with both leading several innovative moves in the industry. Rabiu simply focuses on his enterprise and applies himself to it conscientiously and with a towering sense of personal and professional business ethics. He took charge as a young executive director at the company and he was able to successfully redeem the family business out of trouble created by the absence of their father. And he thinks he can bring it down. Abdul Samad Rabiu was born in Kano in the north-western part of Nigeria, where he obtained his early education. His research revealed that the cement business would offer good returns on investment. 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He then proceeded to Capital University in Columbus, Ohio to further his education and returned to Nigeria at the age of 24 to oversee the family business at the time his father was detained by the administration of General Muhammadu Buhari on the allegation of duty aversion on rice imports.
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