Glusea brings to you Abdul Samad Rabiu net worth
Abdul Samad Isyaku Rabiu is a Nigerian businessman. He is is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture.
As of 2020 Abdul Samad Rabiu net worth is $3.1 billion making him the 3rd richest in Nigeria and 716th in the global billionaire’s club.
Samad Rabiu Profile
Abdul Samad Rabiu was born in Kano in the north-western part of Nigeria, where he obtained his early education. He next attended Capital University in Columbus, Ohio, and returned to Nigeria at the age of 24 to oversee the family business.
This was when his father, Isyaku Rabiu, was being detained by the administration of General Muhammadu Buhari for allegedly not paying rice import duties.
Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. The company imported rice, edible oil, flour, and iron and steel.
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The group acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria.
In 2005 BUA started two flour-milling plants, in Lagos and in Kano. By 2008, BUA had broken an eight-year monopoly in the Nigerian sugar industry by commissioning the second-largest sugar refinery in sub-Saharan Africa.
In 2009 the company went on to acquire a controlling stake in a publicly-listed Cement Company in Northern Nigeria and began to construct a $900 million cement plant in Edo State, completing it in early 2015.
Abdul Samad Rabiu net worth
Abdul Samad Rabiu net worth is $3.1 billion. He is also the chairman of the Nigerian Bank of Industry (BOI)
The companies under the conglomerate includes; BUA SUGAR, BUA OILS, BUA PORTS & TERMINALS, BUA CEMENT:, BUA ESTATES etc.
Abdul Samad Rabiu uses the BUA Foundation for his philanthropic activities. These include the construction of a 7,000-square-meter paediatric ward at the Aminu Kano Teaching Hospital and the construction of the Centre for Islamic Studies at Bayero University Kano amongst several others.
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