The look may be unpretentious. In 1988, Rabiu set up his own business, BUA International, with the blessing of his father. 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. Abdul Samad Rabiu also receives Silverbird Extraordinary Business Achievement Award 2017 ... Is Jesus God or the Son of God? 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. Part of what we acquired from Scancem was a small grinding plant in Edo state, which is called Edo cement, but then with a large limestone deposit. Rabiu, the son of a businessman, inherited land from his father. ______ 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. Abdul Samad Rabiu in knowledge, wisdom, and understanding. Un concurrent nommé Dangote Rabiu exudes an aura of a fulfilment. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s. Born in Nigeria’s northwest state of Kano, Rabiu, age 53, is the son of well known businessman Isyaku Rabiu, who made a fortune in trade and industry in the decades after Nigeria’s independence from the UK in 1960. Remember the $1billion ultramodern […] We were taking back. Abdul Samad Rabiu was born in Kano in the north-western part of Nigeria, where he obtained his early education. 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. 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. Hardly how one imagines the publicity-shy chairman and CEO of BUA Group, a privately-owned conglomerate with annual revenues estimated at $2 billion. The founder and chairman of BUA Group and Nigerian Bank of Industry, Abdulsamad Isyaku Rabiu is a Nigerian businessman born on 4 August 1960 in Kano, Nigeria. “We were able to get the business, which was worth almost $20 million at the time, but the idea was that we were importing their raw materials to the tune of 25,000 to 30,000 tons per month, and instead of them paying us back in cash, they gave us the processed products. Abdul Samad Rabiu : Le siège social a continué de fonctionner, en télétravail, mais nos usines ont dû réduire leur activité. I just got rid of it.”. When we started, our dad was not there. There is no doubt that the 55-years-old businessman billionaire … He became the chairman of the bank after buying a majority shareholding. “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. 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. Welcome! Rabiu simply focuses on his enterprise and applies himself to it conscientiously and with a towering sense of personal and professional business ethics. We have the Lafiaji sugar plantation, which we bought from the government around four years ago, but it is only around 15,000 hectares, so we are trying to develop another 30,000 hectares,” he says. The Kano flour factory was launched in 1998. Abdul Samad Rabiu est né à Kano, dans le nord-ouest du Nigeria. We didn’t want to collect money because at the time you would sometimes never get it,” Rabiu explained. 5 Fascinating Facts About Nigeria – Giant Of... How Meditation And Yoga Help Relief Stress And... 5 Mind Blowing Facts About Africa- That You... 5 Types Of Small Business Equity Financing, Nigeria Slumps Into Recession After Four Years. Abdul Samad Rabiu, comme un bon musulman, consacre d’importantes ressources à la philanthropie à travers de la Fondation BUA His research revealed that the cement business would offer good returns on investment. Abdul Samad Rabiu … His matchless finesse as BUA Chairman landed him the privileged role of the Bank of Industry (BOI)’s substantive Chairman until his retirement. Reply. Gas is cheap. ... And it all stems from the fears for the safety of his son Biodun. 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. Reply. Rabiu, the unassuming business tycoon, is full of life with a keen ear and a great business story. Fact: Unusual Billionaire, Abdulsamad Rabiu is quietly becoming more visible. Production on this platform was carried out until last year, when the government restricted imports following the launch of Dangote’s $1 billion cement plant in Ibese, Nigeria. He also owns a penthouse at The One & Only Hotel, in Cape Town. He grew the business, he did everything, everybody reported to him, and then he wasn’t there anymore. The man is also a movie buff and is always on the lookout for blockbuster releases. ( Log Out /  “We’ve known each other since childhood. On forbes lists #1425 Billionaires 2019 #16 Africa’s Billionaires 2019 Stats. Rabiu, the son of a businessman, inherited land from his father. Check your inbox now to confirm your subscription. Abdul Samad Rabiu's biography, date of birth, age, early life, family, parents, wife, children, education, businesses, net worth, cars, houses, social media handles and everything else you'd love to … We had to put up a power plant at Edo cement, which is about $60 to $70 million. Capital expenditure is there, and it’s quite a bit of money. 2019 Africa’s Billionaires NET WORTH $1.6B as of 1/9/19. Je sais où sont les opportunités, où est l’argent. He approached the then-President of Nigeria, Umaru Musa Yar’adua, to get the approval. Abdul Samad Isyaku Rabiu is a Nigerian businessman. Olatorera Consultancy provides critical and analytical services to companies under our radar to enable them innovate and serve their clients more effectively and efficiently using digital resources and modern strategies. A military coup in 1983 toppled the government and led to the arrest of then-President Shehu Shagari and many of his close associates, including Isyaku. Olatorera Consultancy provides the seal and stamp of Africa’s Best to enable great companies compete stronger on a global scale. 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 he thinks he can bring it down. Afficher les profils des personnes qui s’appellent Abdulsamad Rabiu. From being born with a silver spoon in his mouth, Rabiu—Africa’s newest billionaire—has carved out his own place in the continent’s business history. 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. Over the years, the duo have become synonymous with cement in Nigeria, with both leading several innovative moves in the industry. There was this huge vacuum because of his personality. 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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. “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. Rabiu made an impassioned plea to President Yar’Adua — he knew he could drive down the price of cement from $300 per bag to $150 if he had his own terminal. According to Forbes Magazine, Abdul Samad Rabiu is a multi-billionaire with a net worth of over $3 billion as of 2020. According to the statement, the businessman has also placed an order for an additional donation of equipment and medical supplies including testing kits and medical protective gear to 9 states in Nigeria. For a man who can easily afford the best in life—he has a Bentley and Aston Martin parked in his courtyard—Rabiu’s simplicity is remarkable. 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. The Africa 2018 Forum is an international, landmark event hosted under the … Aliko’s granduncle, Sanusi Dantata, at one time was the biggest trader in terms of imports in Kano state,” he says. Margaret 04/09/2020 At 1:39 am. Although Rabiu disagrees with the government’s decision, he says he was prepared for it. Abdul Samad Isyaku Rabiu was born on the 4 th of August 1960 in Kano state. A l'âge de 24 ans, il retourne au Nigéria pour s’impliquer dans l’entreprise familiale. From the ancient city of Kano, Samad, a silver spoon, is the son of Isyaku Rabiu, one of the richest and most influential businessmen in … Rabiu simply focuses on his enterprise and applies himself to it conscientiously and with a towering sense of personal and professional business ethics. Africa’s Best: 5 African Countries With The Best... 5 Best Resorts In Nigeria- A Perfect Weekend, How did Abdul samad Rabiu become Bank of Industry chairman, How did abdul samad rabiu perform as bank of industry chairman, Nigeria: Importance Of The Internet In Education. Conditions for obtaining the license included that the interested company must have a terminal where the raw cement would be processed and bagged, as well as have a plant in Nigeria where production is taking place, or be in the process of building one. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a […] 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. Posted on July 2, 2014 at 12:52 am in news   |  RSS feed The first step was to secure a license to import cement. Il est un disciple de Cheikh Ibrahim « Baye » Niass comme tous les membres de sa famille, y compris beaucoup de ses compatriotes dont ceux de sa région, Kanon. By the 1970s, Isyaku emerged as a key sponsor of the National Party of Nigeria, which became the ruling political party after the country returned to civilian rule following the elections of 1979. Two years later, BUA Flour Mills’ first factory was established in Lagos. Olatorera Consultancy Limited is a new-generation consulting company providing business development and consulting services to established companies and high net-worth individuals. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. And checks revealed the reason for this is simple. He speaks excitedly about going to see American jazz singer Stacey Kent play whenever she performs in London. The next goal was to procure the terminal. The country does not have an integrated steel plant. Alhaji Isyaku Rabiu was the head of a very large family of four wives and many children. Here are 10 things you probably didn’t know about the Nigerian billionaire, Abdulamad Rabiu: 1. © 2017-2037 - Olatorera.com All Right Reserved. Abdulsamad Rabiu was nominated based on his outstanding performance track and record in the economic/industrial development of the Africa continent across key sectors of the Africa economy such as Agriculture, manufacturing, infrastructure, amongst others. Publié le 08/08/2020 à 12:24 - Mis à jour le 08/08/2020 à 12:24 Abdul Samad Rabiu, comme un bon musulman, consacre d’importantes ressources à la philanthropie à travers de la Fondation BUA It was a trying period for the Rabius. On a chilly autumn night in London, a chauffeured Bentley glides into the courtyard of an affluent home. 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 payment method was favorable for Rabiu and his company because the price of the products was government controlled. Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. Greatest Thieves- Top 10 Looters In The History... Africa’s Richest: Who Is Nigerian Oil Magnate Dahiru... How Uganda Milked MTN of $100 million to... Top 3 Richest Lebanese Migrants Doing Business In... Dressmeoutlet.com WINS Fashion Retailer of the Year 2018... What is the CBN’s Forex Unification Plan? 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. They actually grounded the jets. Change ), You are commenting using your Twitter account. 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. With the money he made from this business, the amount of which he declines to reveal, Rabiu cast his eye further. your password Buhari, Atiku greet BUA chief, Abdul Samad Rabiu, on 60th birthday. It doesn’t make sense at all,” laments Rabiu. 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.”. ( Log Out /  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. Le fondateur et PDG de BUA Group ne jure que par l’immense potentiel de son pays, où il multiplie les projets et nourrit de grandes ambitions. Afficher les profils des personnes qui s’appellent Abdulsamad Rabiu. Rabiu exudes an … He imported rice, sugar and edible oils, as well as iron and steel rods. By 2008, BUA broke an eight-year monopoly in the Nigerian sugar industry by commissioning the second largest sugar refinery in sub-Saharan Africa. The 2,000 million tons per day capacity plant is the second largest sugar refinery in West Africa, after the Dangote Sugar refinery, which produces an estimated 2,400 MT per day. Power is cheap in Nigeria. Acquisition of the Largest Edible Oil Processing Company in Nigeria. 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. He set up his own business in 1988, importing rice, sugar and edible oils as well as iron and steel rods. Around this time, the younger Rabiu earned his bachelor’s degree in economics from Capital University in Columbus, Ohio. Why should it be $170? My dad had been doing rice, sugar and edible oil for a very long time. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Mr Buhari commends the large-heartedness of the business mogul. This provided the much-needed boost for the young company. After approaching the minister of steel, who hailed from Rabiu’s home state, he was asked to finance the project. 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%. There were two private jets and we didn’t know what to do with them. Trackback URL. BUA Group Executive Chairman/CEO, Abdul Samad Rabiu was one of the panelists at the Africa 2018 forum. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. Log into your account. Change ), You are commenting using your Facebook account. Il part ensuite pour les Etats-Unis et étudie à la Capital University of Columbus dans l’Ohio. Thereafter, BUA set up its sugar refinery in Lagos. BUA further enhanced its scope of operations and ventured into steel, billets and iron ore importation and supplying multiple rolling mills in the country. Hear our Founder/Executive Chairman, Abdul Samad Rabiu speaking to CNN on the Future of Africa as a hub for industry and innovation. The previous owners had offered BUA the business based on its status as a player in the edible oils business. From the ancient city of Kano, Samad, a silver spoon, is the son of Isyaku Rabiu, one of the richest and most influential businessmen in northern Nigeria in the 1970s and 80s. However, building the terminal would take more than a year to complete, during which time cement prices would continue to rise, which would be detrimental to the Nigerian economy. He will also … Change ), You are commenting using your Google account. He returned home to find his father’s business in a precarious state following his incarceration. Reply   |   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. He ticks off the facts: Nigeria has around 170 million people. He is also the chairman of the Nigerian Bank of Industry (BOI). ( Log Out /  Latest news about Abdulsamad Rabiu : 2018: Nigeria's NNPC says Shell, ExxonMobil also looking at crude swaps: RE. “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. The company was involved in in the importation of rice, edible oil, flour, and iron and steel. We couldn’t fly them. This web site is not endorsed by, directly affiliated with, maintained, authorized, or sponsored by Abdulsamad Rabiu. May he continue to increase in wealth and be guided to the right path among those who Allah is pleased with Amin. Abul Samad Rabiu Today. The country’s cement production capacity is 20-22 million tons. Abdul Samad Rabiu, son of Isyaku Rabiu was born in Kano, Nigeria where he did his early education. Age: 58 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. Founder of BUA Group, Abdul-Samad Rabiu, has announced a donation of N1 billion cash through the BUA Foundation. This is Abdulsamad Rabiu, the unassuming Nigerian business tycoon, full of life, with a keen ear and a great business story. He gives the impression of one who values his achievements and success, but does not wear it on his sleeve. (BFI) – Même si tout ou presque les oppose, les 2 grandes fortunes du Nigeria, Aliko Dangote et Abdul Samad Rabiu ont un objectif commun : contribuer à maintenir leur pays au rang de première puissance économique du continent. ( Log Out /  “Nigerian cement mogul Abdulsamad Rabiu, who runs and owns the BUA Group, returns to the list for the first time since 2015. Abdul Samad Rabiu, son of Isyaku Rabiu was born in Kano, Nigeria where he did his early education. That’s 117 kilograms per head, which is low, he says. While cement has been a key focus of the group’s activities in recent years, Rabiu also has his eyes on the steel industry. But, it costs you no more than $20 million a year for gas and it is your biggest cost in a cement plant,” he says. He ranks 23rd on Forbes new 2013 list of Africa’s 50 Richest. “At the time, there were three ships being discharged, rice and sugar ships. So it was quite a good opportunity for us and we made quite a bit of money,” he recalled. Barely 24 years old, with little business experience, Rabiu had to lead his father’s business empire during dark days. The government agencies tried to seize the goods, so we were discharging. They have also enjoyed several special treatments from […] 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. Since it would have taken over a year to build one, Rabiu made the smart move to acquire a floating terminal. By 1992, a regime change came and the honeymoon was over. BUA’s sugar venture has been a cash cow. In spite of being experienced, he is always willing to learn more,” says Engr Olumo, BUA’s group project co-ordinator in the eastern region. In the capital, Abuja, Rabiu’s BUA group has a huge housing project of 200 homes to be completed by early next year. Rabiu jets around the world on an eight-seater Gulfstream G550 worth $44.9 million, powered by a Rolls-Royce BR710 turbofan engine, as well as an $18-million Legacy 600 aircraft. He dismisses talk of any competition with Dangote, pointing out that their mutual interests in certain sectors derive from the inclinations of the patriarchs of their families. How Did Abdulsamad Rabiu Become Chairman Of Nigeria’s Bank Of Industry? President Muhammadu Buhari has extended his warm greetings to the Founder/Chairman of one of Africa’s leading conglomerates, BUA Group, Abdul Samad Rabiu, on his 60th birthday.
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