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. 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 / We had to put up a power plant at Edo cement, which is about $60 to $70 million. ... And it all stems from the fears for the safety of his son Biodun. A man of several firsts, events of his birthday […] Rabiu simply focuses on his enterprise and applies himself to it conscientiously and with a towering sense of personal and professional business ethics. 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. “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. © 2017-2037 - Olatorera.com All Right Reserved. Abdul Samad Rabiu in knowledge, wisdom, and understanding. “Nigerian cement mogul Abdulsamad Rabiu, who runs and owns the BUA Group, returns to the list for the first time since 2015. He is the son to one of Nigeria’s foremost industrialists during the 1970’s and 1980’s, Khalifah Isyaku Rabiu. ( Log Out / Abdulsamad is the founder and chairman of BUA Group. He gives the impression of one who values his achievements and success, but does not wear it on his sleeve. This provided the much-needed boost for the young company. There was this huge vacuum because of his personality. 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. 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. Acquisition of the Largest Edible Oil Processing Company in Nigeria. Though he didn’t throw a party to celebrate the landmark achievement, memories of his philanthropy to mark the event are still fresh on many minds. The plant is being built as we speak and will be delivered next year. Hear our Founder/Executive Chairman, Abdul Samad Rabiu speaking to CNN on the Future of Africa as a hub for industry and innovation. In the cement industry in Nigeria, two names are Kings, Chairman of Dangote Group, Alhaji Aliko Dangote, and Abdul Samad Rabiu, the boss of Bua Group. In 1995, BUA acquired Nigeria Oil Mills, a peanut processing company in Kano, for more than $20 million. With the money he made from this business, the amount of which he declines to reveal, Rabiu cast his eye further. They have also enjoyed several special treatments from […] “He is very analytical, balanced and always calm under stressful situations. In the capital, Abuja, Rabiu’s BUA group has a huge housing project of 200 homes to be completed by early next year. The deal needed approval from the government. Abdul Samad Isyaku Rabiu was born on the 4 th of August 1960 in Kano state. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. 2016: Nigeria's BUA in talks with China's Sinoma over $1.9 billion steel, cement deal: RE. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. Abdul Samad Rabiu was born in Kano in the north-western part of Nigeria, where he obtained his early education. Rabiu, the unassuming business tycoon, is full of life with a keen ear and a great business story. 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. Then there are the prices being charged. How Did Abdulsamad Rabiu Become Chairman Of Nigeria’s Bank Of Industry? Two years later, BUA Flour Mills’ first factory was established in Lagos. This is Abdulsamad Rabiu, the unassuming Nigerian business tycoon, full of life, with a keen ear and a great business story. Posted on July 2, 2014 at 12:52 am in news | RSS feed 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. Among his properties is a house in Gloucester Square in London worth nearly $16 million and a penthouse at The One & Only Hotel, in Cape Town, worth $12.6 million. The Kano flour factory was launched in 1998. He will also … Thereafter, BUA set up its sugar refinery in Lagos. That’s 117 kilograms per head, which is low, he says. Reply. 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. Production at the Delta Steel Company had been beggared by the Nigerian government’s decision to reduce grants. His late father, Khalifah Isyaku Rabiu, was one of Nigeria's foremost industrialists in the 1970s and 1980s.Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. BUA’s sugar venture has been a cash cow. Words mean more than what is set down on paper. 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. “We want to ensure that we have at least 30,000 hectares cultivated for sugar plantation in the next three years. It is a 3-million ton plant and costs a little over $500 million. 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%. Besides his assets in the BUA Group, Rabiu owns property in Britain worth $62 million, and in South Africa, worth $19 million. This was disclosed in a statement issued by the BUA Group on Thursday. 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. Olatorera Consultancy publishes an annual list of “Africa’s Best 100 Companies” and “Africa’s Best 100 Leaders”. Afficher les profils des personnes qui s’appellent Abdulsamad Rabiu. Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. My dad had been doing rice, sugar and edible oil for a very long time. He also owns a penthouse at The One & Only Hotel, in Cape Town. Olatorera Consultancy provides the seal and stamp of Africa’s Best to enable great companies compete stronger on a global scale. (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. 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. Afficher les profils des personnes qui s’appellent Abdulsamad Rabiu. “It was very difficult. Abdulsamad Isyaku Rabiu was born on 4 August 1960 in Kano, Nigeria. The man is also a movie buff and is always on the lookout for blockbuster releases. I just got rid of it.”. We didn’t want to collect money because at the time you would sometimes never get it,” Rabiu explained. 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. 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. Then there was the issue of the planes. Why should it be $170? “We’ve known each other since childhood. ... M P Abdul Samad … your username. Il part ensuite pour les Etats-Unis et étudie à la Capital University of Columbus dans l’Ohio. He grew the business, he did everything, everybody reported to him, and then he wasn’t there anymore. 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. He has also bought homes from Eaton Square to Avenue Road known as Millionaires’ Row. Rabiu wants to see the price of products decrease so that demand will increase. He returned home to find his father’s business in a precarious state following his incarceration. 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. Abdul Samad Rabiu, son of Isyaku Rabiu was born in Kano, Nigeria where he did his early education. 2. With a whiff of triumph, he declares that he just saw the new biographical drama Diana, which captures the last two years of the life of the late Princess of Wales. And checks revealed the reason for this is simple. Check your inbox now to confirm your subscription. 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. “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. 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. 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. The market for cement in the country was characterized by high price through scarcity, which was due to the fact that few companies held licences to import. Margaret 04/09/2020 At 1:39 am. He merged his Kalambaina Cement firm into publicly-traded Cement Company of Northern Nigeria, which he controlled, in late 2018. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a […] Welcome! Olatorera Consultancy Limited is a new-generation consulting company providing business development and consulting services to established companies and high net-worth individuals. It was a trying period for the Rabius. “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. The next goal was to procure the terminal. Around this time, the younger Rabiu earned his bachelor’s degree in economics from Capital University in Columbus, Ohio. 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. 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. His matchless finesse as BUA Chairman landed him the privileged role of the Bank of Industry (BOI)’s substantive Chairman until his retirement. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a […] 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. 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. They actually grounded the jets. 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. The country’s cement production capacity is 20-22 million tons. He set up his own business in 1988, importing rice, sugar and edible oils as well as iron and steel rods. Establishment of BUA International Limited. Rabiu, the son of a businessman, inherited land from his father. And he thinks he can bring it down. At the same time, we are also looking at Ilaro, west Nigeria.”. 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 … According to Forbes Magazine, Abdul Samad Rabiu is a multi-billionaire with a net worth of over $3 billion as of 2020. Although Rabiu disagrees with the government’s decision, he says he was prepared for it. “Everybody says we have issues with infrastructure and power; it’s nonsense. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. 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. 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. He next attended Capital University in Columbus, Ohio, and returned to Nigeria at the age of 24 to oversee the family business. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman and the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure, and agriculture and producing revenue in excess of $2.5 billion. Capital expenditure is there, and it’s quite a bit of money. 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. 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. His research revealed that the cement business would offer good returns on investment. 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. Fact: Unusual Billionaire, Abdulsamad Rabiu is quietly becoming more visible. https://highstreet.ng/this-is-our-nigeria-abdul-samad-rabiu-con On forbes lists #1425 Billionaires 2019 #16 Africa’s Billionaires 2019 Stats. Abdul Samad Rabiu also receives Silverbird Extraordinary Business Achievement Award 2017 ... Is Jesus God or the Son of God? Sa'adatu Abdullahi 09/05/2020 At 5:59 am. His bet: that the demand for sugar will go up if the price comes down. Change ), You are commenting using your Google account. On a hot morning in Port Harcourt, on the coast of Nigeria, FORBES AFRICA visits one of Rabiu’s biggest projects, the BUA Mixed Development, which includes a sugar refinery with a production capacity of 2,000 tons per day and a 65,000MT storage; a flour mill; a pasta, semolina and rice mill. It was perhaps part of the strategy to reconstitute the board of the bank with seasoned private-sector technocrats. By 1992, a regime change came and the honeymoon was over. Since it would have taken over a year to build one, Rabiu made the smart move to acquire a floating terminal. Forbes estimated Abdulsamad’s wealth at $1.2 billion, bringing him to the global billionaire’s club in 2013. Abdul Samad Rabiu, son of Isyaku Rabiu was born in Kano, Nigeria where he did his early education. While cement has been a key focus of the group’s activities in recent years, Rabiu also has his eyes on the steel industry. It’s around $40 anywhere else in the world. 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. Abdul Samad Rabiu, comme un bon musulman, consacre d’importantes ressources à la philanthropie à travers de la Fondation BUA | 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. Here are 10 things you probably didn’t know about the Nigerian billionaire, Abdulamad Rabiu: 1. Un concurrent nommé Dangote Rabiu now owns 97% of … His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s. ( Log Out / Glusea brings to you Abdul Samad Rabiu net worth. In 1988, Rabiu set up his own business, BUA International, with the blessing of his father. On a chilly autumn night in London, a chauffeured Bentley glides into the courtyard of an affluent home. By 2008, BUA broke an eight-year monopoly in the Nigerian sugar industry by commissioning the second largest sugar refinery in sub-Saharan Africa. He imported rice, sugar and edible oils, as well as iron and steel rods. 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. Aliko’s granduncle, Sanusi Dantata, at one time was the biggest trader in terms of imports in Kano state,” he says. 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 … He is working so hard to close in on his city man. “We knew it was coming, so we decided to put up our own plant in Edo cement. Refineries in Nigeria can be like buses: you wait for ages, and then three come along at once. Making Africans proud! Reply. It was a trying period for the Rabius. This web site is not endorsed by, directly affiliated with, maintained, authorized, or sponsored by Abdulsamad Rabiu. He approached the then-President of Nigeria, Umaru Musa Yar’adua, to get the approval. Publié le 08/08/2020 à 12:24 - Mis à jour le 08/08/2020 à 12:24 The government agencies tried to seize the goods, so we were discharging. 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. Rabiu simply focuses on his enterprise and applies himself to it conscientiously and with a towering sense of personal and professional business ethics. Trackback URL. After approaching the minister of steel, who hailed from Rabiu’s home state, he was asked to finance the project. Founder of BUA Group, Abdul-Samad Rabiu, has announced a donation of N1 billion cash through the BUA Foundation. 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. Gas is cheap. Change ), You are commenting using your Twitter account. Buhari, Atiku greet BUA chief, Abdul Samad Rabiu, on 60th birthday. BUA further enhanced its scope of operations and ventured into steel, billets and iron ore importation and supplying multiple rolling mills in the country. “I think it was around $6.30 from the company, but around $90 in the open market. 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 … 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. Nigeria is the largest importer of steel and steel products in sub-Saharan Africa. Ordinarily, the tale that should abound about the Chairman of Bua Group, Abdul Samad Rabiu is his post 60th birthday celebration. Abdul Samad Rabiu : Débuts. Log into your account. The terminal secured the import license. The federal government appointed Dr. Abdulsamad Rabiu as chairman of the Bank of Industry (BOI). Remember the $1billion ultramodern […] 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. 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. The look may be unpretentious. Abdul Samad Rabiu est né à Kano, dans le nord-ouest du 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.”. We were able to get the big one out and we decided we didn’t need it. ______ The use of any trade name or trademark is for identification and reference purposes only and does not imply any association with the trademark holder. Over the years, the duo have become synonymous with cement in Nigeria, with both leading several innovative moves in the industry. 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. Latest news about Abdulsamad Rabiu : 2018: Nigeria's NNPC says Shell, ExxonMobil also looking at crude swaps: RE. He is looking at a minimum of 250 kilograms per head in the next three to four years. Mr Buhari commends the large-heartedness of the business mogul. 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. Power is cheap in Nigeria. 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The first step was to secure a license to import cement. Rabiu exudes an aura of a fulfilment. 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. Reply | So at a very tender age, I was saddled with so many things. ReDahlia 09/05/2020 At 6:22 pm. Qui est Abdul Samad Rabiu, ce milliardaire et talibé de Baye Niass qui a affrété plusieurs avions pour les obsèques du Khalif ? The country does not have an integrated steel plant. A List Of His Other Achievements. 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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