Abdulsamad Rabiu Biography – Early Life Net Worth Education Awards

Abdulsamad Rabiu Biography – Early Life Net Worth Education Awards

Abdul Samad Isyaku Rabiu, born on August 4, 1960, is a Nigerian billionaire businessperson and philanthropist. His father, the late Khalifah Isyaku Rabiu, was a notable industrialist in Nigeria during the 1970s and 1980s. Abdul Samad Rabiu is the originator and chairperson of BUA Group, a Nigerian conglomerate emphasizing manufacturing, infrastructure, and agriculture, with revenues surpassing $2.5 billion. Additionally, he holds the position of chairman at the Nigerian Bank of Industry (BOI).

As of July 7, 2020, Forbes estimated Rabiu’s wealth at $3.2 billion, placing him 716th in the global billionaire’s list. In January 2022, he was reported to be the second richest person in Nigeria. By April 2022, he was ranked as the fifth-richest individual in Africa, with a net worth of $6.7 billion. In January 2023, Rabiu was reported to have become the fourth richest person in Africa.

Early Life: Abdul Samad Rabiu was born and raised in Kano, located in the northwestern region of Nigeria. He pursued his education at Capital University in Columbus, Ohio, and returned to Nigeria at the age of 24 to take charge of the family business. This period coincided with his father Isyaku Rabiu’s detention by the administration of General Muhammadu Buhari due to alleged non-payment of rice import duties.

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Business:

Abdul Samad Rabiu established BUA International Limited in 1988, primarily engaged in commodity trading. The company dealt in the import of rice, edible oil, flour, and iron and steel. In 1990, the Nigerian government, which owned Delta Steel Company, entered into a contract with BUA to supply raw materials in exchange for finished products, significantly benefiting the young company. BUA expanded its operations into the steel industry, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria. Over the years, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria. In 2005, BUA initiated two flour-milling plants in Lagos and Kano. By 2008, BUA ended an eight-year monopoly in the Nigerian sugar industry by establishing the second largest sugar refinery in sub-Saharan Africa. In 2009, the company acquired a controlling stake in a publicly listed Cement Company in Northern Nigeria and completed the construction of a $900 million cement plant in Edo State by early 2015.

Philanthropy:

Abdul Samad Rabiu channels his philanthropic efforts through the BUA Foundation. His charitable contributions include the construction of a 7,000-square-meter pediatric ward at the Aminu Kano Teaching Hospital and the establishment of the Centre for Islamic Studies at Bayero University Kano, among other initiatives.

Personal Life:

Abdul Samad Rabiu has four children: Khadija Cookie Rabiu, Isyaku Khalifa Rabiu, Junaid Abdulsamad Rabiu, and Rania Rabiu. He has a total of 42 siblings, including Nafiu Rabiu and Rabiu Rabiu, who serves as the chairman of IRS Airlines.

Award:

In October 2022, President Muhammadu Buhari conferred upon him the Nigerian national honor of Commander of the Order of the Federal Republic (CFR).

Abdulsamad Rabiu Biography – Early Life Net Worth Education Awards