Wiki

How Did Abdul Samad Rabiu Make His Money

Written by sogadmin

How Did Abdul Samad Rabiu Make His Money

Abdul Samad Rabiu is the founder of BUA Group.

Abdul Samad Rabiu is the founder of BUA Group, a Nigerian conglomerate with interests in agriculture, real estate and energy.

The company has subsidiaries focused on oil trading and transportation, construction services, manufacturing and distillery. It also owns stakes in a number of banks and insurance companies across West Africa.

Rabiu made his fortune by founding Mobil Producing Nigeria Limited (MPNL) in 1992 as a joint venture between Mobil Oil Corporation and the Nigerian government-owned Petroleum Mining Company (PMC). In 1999 he divested his shareholding in MPNL to form BUA Group which held interests in infrastructure development projects such as roads, bridges and waterworks.[1]

BUA Group produces Sugar, Cement, Steel, Flour and Port operations.

BUA Group produces Sugar, Cement, Steel, Flour and Port operations. The company has its registered office in Lagos, Nigeria. It operates in several countries including Ghana, Sierra Leone and Liberia. The number of people who are employed by the BUA Group is unknown.

The company has operations in Nigeria and other African countries.

BUA Group operates in the following African countries: Nigeria, Benin Republic, Ghana, Niger Republic and Cameroon. The company has cement factories in Calabar, Port Harcourt and Warri while its sugar operations are located at Ibadan in Oyo State. Steel factories are situated at Yenagoa while flour mills can be found at Lagos Island and Magodo respectively.

BUA Cement Plc is also constructing a $5 billion steel mill near Lagos airport with funding from China’s Sinoma International Engineering Group Co Ltd (SSE: 300535), according to Reuters.

Abdul Samad Rabiu started his career dealing in commodities trading.

Abdul Samad Rabiu, who is currently the Chairman of BUA Group, started his career dealing in commodities trading. He has the distinction of being among the first Nigerian traders to trade crude oil and palm oil in West Africa.

This implies that all businesses dealing with importing or exporting goods, as well as those that deal with commodity exchange have been a major source of wealth for him.

Abdul Samad Rabiu started a commodities trading business after leaving his job as an auditor at Arthur Andersen & Co., Lagos (now known as Accenture).

He holds a degree in Economics from Capital University Columbus Ohio, USA.

According to the biography page on his website, Abdul Samad Rabiu holds a degree in Economics from Capital University Columbus Ohio. He is also an American citizen.

Rabiu’s father was a businessman and politician named Isyaku Rabiu, who died in 2008 when Abdul Samad was 44 years old. In addition to his own business ventures, Abdul Samad also runs several companies started by his father:

  • Aliko Dangote Plc (ADPL) – listed on the Nigerian Stock Exchange
  • Aliko Dangote Sugar Refinery PLC (ADSRFC) – listed on the Nigerian Stock Exchange
  • Al-Amin Fertilizers & Chemicals Limited (AAFCL) – listed on the Nigerian Stock Exchange

Rabiu owns BUA International Limited which he founded in 1988.

BUA Group, a holding company that was founded by Abdul Samad Rabiu in 1988, is the parent company of BUA International Limited (BIL), a Nigerian investment company. BIL owns BUA Cement and BUA Sugar Refinery.

Rabiu has been involved in several other businesses as well. He is the founder and chairman of the prestigious Rabiu Kwankwaso Foundation for Leadership Development (RAKUD). This foundation aims to aid young people who are interested in politics by providing financial support for their education and allowing them to work on projects designed to increase awareness about important issues related to Nigeria’s development

He later diversified into shipping, real estate, export and manufacturing.

In 1974, he established the Rabiu Group in Nigeria. He later diversified into shipping, real estate, export and manufacturing.

The group’s activities include oil and gas exploration, transportation of petroleum products through its trading and shipping arm; importation of construction materials for building projects in Nigeria as well as export of other goods including cocoa beans. It also has investments in real estate development with its subsidiaries like Rabiyo Development Corporation Ltd., which is involved in housing projects across Nigeria’s major cities like Lagos State.[9] The company has extensive interests in agriculture including cotton growing farms located within Katsina State.[10]

Abdul Samad Rabiu was born in Kano.

Abdul Samad Rabiu was born in 1960 in Kano, Nigeria. He is the son of Isyaku Rabiu, who was a businessman and politician. His father founded Tiamin Rice Mill, one of the largest rice mills in Africa, as well as BUA Group (then known as Benair), Nigeria’s largest cement manufacturing company. The younger Rabiu went on to graduate from Ahmadu Bello University with a degree in business administration before starting his own business selling building materials and other commodities at the age of 25.

In 1999 he purchased BUA Group from his father and renamed it BUA Group Limited (BGL). Under his leadership BGL has grown into one of Africa’s leading companies boasting over 2 billion dollars worth of assets including real estate developments across Nigeria and Ghana. In 2001 Samad introduced innovative ideas such as direct sales through social media platforms such as Facebook and WhatsApp where he offers products including mobile phones for sale at special rates not available elsewhere

He is the son of Late Isyaku Rabiu who was a businessman and politician.

  • Abdul Samad Rabiu is the son of Late Isyaku Rabiu who was a businessman and politician.
  • His father was born in Kano.
  • Abdul Samad’s father had 13 children, among whom are the two sons, Abdul Samad and Ahmed Rufai.
  • Isyaku died in 2012 at the age of 81.

He started with commodity trading and now has a conglomerate empire that employs thousands across Africa

He started with commodity trading and now has a conglomerate empire that employs thousands across Africa.

  • He is the founder and chairman of BUA Group, a Nigerian conglomerate with interests in cement production, sugar refining, real estate, port operations, manufacturing (steel), and other industries.
  • In 1988 he founded BUA Cement Plc., one of Nigeria’s largest cement producers which went public on the NSE in 1991. The company was later renamed BUA Group after taking its holding companies public via an IPO in 2006.
  • His conglomerate also owns Prudent Investment Company Limited (PICL), a privately owned investment firm based in Lagos that manages assets worth over $2 billion globally; consists mostly of private equity investments as well as large scale infrastructure projects across Africa.*

About the author

sogadmin

1 Comment

Leave a Comment