Net Worth of Abdul Samad Rabiu. If the Nigerian army had waited a few more minutes before they arrived, I wouldn’t be here today,” Rasaq narrated. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. Michael Adeniyi Agbolade Ishola Adenuga was born on the 29th of April, 1953 to the family of Oloye Michael Agbolade Adenuga Snr. He became Vice President at Travant Capital Partners in Lagos upon his return to Nigeria and remained there till 2009. Over the years, the duo have become synonymous with cement in Nigeria, with both leading several innovative moves in the industry. Fate, however, had other plans. According to Forbes Magazine, Abdul Samad Rabiu is a multi-billionaire with a net worth of over $3 billion as of 2020. I don’t have a lot of money but I want to find people who I can make those kinds of investments and bets as well,” he said. In retrospect, he would say, “The expectation was to spend a couple of years learning the skill, and then have the ceremonial freedom, after which you start up in your workshop and become successful. Subsequently, he was implicated and detained for money laundering. “A lot of companies need to be formalized, so they become investable and provide liquidity option for investors. Abdul Samad Isyaku Rabiu CON ( According to Forbes as of August 2020, Abdul Samad's net worth was estimated at $3.1 billion. He owns stakes in different companies in Nigeria including Stanbic IBTC Bank and Sterling Bank. Such innovation was not common at the time, as Nigeria was still very far from toeing the lines of a cashless economy. “We never had plans of coming back to the southwest, it was completely accidental and it was this accident that completely changed the course of my life,” Rasaq states wistfully. Billionaire Industrialist, Abdul Samad Rabiu, is 60. While working at the SPDC, he also took a professional course to become an Energy Risk Professional (ERP). Sa'adatu Abdullahi 09/05/2020 At 5:59 am. Rabiu rattles out the value chain from iron ore to finished steel in a heartbeat. This was a terrain that was, hitherto, only played in by the likes of Aliko Dangote. He next attended Capital University in Columbus, Ohio, and returned to Nigeria at the age of 24 to oversee the family business. Abdul Samad Rabiu uses the BUA Foundation for his philanthropic activities. Fresh out of school, he opted to take the same Semiconductor Chip Design as a career option in Biomorphic VLSI, a startup of 8 employees, hoping to get better at it with more practice. BUA CEMENT: BUA Group possesses a strong capacity in cement manufacturing with 3 major subsidiaries and plants in Northern and Southern Nigeria as well as a 2 million metric tonnes per annum floating terminal serving niche markets. They have also enjoyed several special treatments from … In business and philanthropy, Nigerian business mogul, Abdulsamad Rabiu continues to set the pace. Rabiu’s taste for good living is … 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. From interacting with post-secondary students who were seeking admission, Rasaq soon came to understand that the subjects they were studying were no different from the subjects he was already studying. He also holds a Yoruba Chieftaincy as the Otunba Apesin of the Ijebu clan. Abdul returned to Nigeria at the age of 24 to overseer the family business. Abdulsamad Rabiu is one of the richest people in Nigeria and Africa. Notwithstanding, Adenuga fondly attributes his business sense to his mother, who was also a businesswoman. Print This Article Share it With Friends. “Nigeria imports 90% of it’s petroleum products. [6][7], Abdul Samad Rabiu was born in Kano in the north-western part of Nigeria, where he obtained his early education. Some years later, two flour-milling plants – in Lagos and in Kano – had joined the number. Abdul Samad Isyaku Rabiu was born on August 4th, 1960 in Kano, Kano State, Nigeria to Isyaku Rabiu, a businessman and Islamic scholar. BUA OILS: BUA Oil Mills Limited Lagos is situated at No. He hails from Kano, Nigeria. There was also another donation of N200 million to Adamawa state government, and ambulances to several other states. He later earned a Masters in Business Administration from the Graduate School of Business, Stanford University from 2003 to 2005. Billionaire Industrialist, Abdul Samad Rabiu, is 60. On the part of his Edo State counterpart, Governor Godwin Obaseki, Abdul Samad Rabiu is an astute businessman who has blazed the trail and achieved so much success at 60 years. Abdulsamad Rabiu was born into a wealthy family on the 4th of August, 1960 in Kano State. Abdul Samad is a Nigerian businessman, founder, and chairman of the Nigerian conglomerate BUA. Abdul Samad Isyaku Rabiu CON chairman of BUA Group at BUA Group Kano, Kano, Nigeria 169 connections Abdul Samad RABIU. 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. Obaseki thanked Rabiu for his continued to support the state’s industrialisation drive as the single largest investor in the state and his immense contribution towards fight against the Coronavirus pandemic. “I got called into my boss’ office and he told me he had to let me go. Abdulsamad Rabiu Biography. Abdul Samad Rabiu owns properties in Eaton square and Avenue road also known as millionaire’s row. He has dreams of dual-listing Paga on the NSE and NASDAQ in the nearest future. His parents decided then that they could no longer gamble the lives of the entire family in such a crisis. The Group's plants have the capacity to Provides various grades of cement as required in the local Nigeria markets and meet the highest standard of cement manufacturing. From a humble start, Mike Adenuga has become one of Nigeria’s most successful entrepreneurs whose impact is being felt across the continent. Some of them stayed on to work with Paga when we could afford to pay them at market rates,” he recalled. After a few years of ardent academic studies and educative activities as a member of the Students in Free Enterprise (SIFE) club, Rasaq bagged First class honors in Economics and secured a job with Meristem Securities in 2007, courtesy of Saheed Bashiru – a senior schoolmate, whose acquaintance he made in his final year. As a secondary school student at the Army Day secondary school, he would close from school with the rest of his friends, change into casual wears, and resume at the workshop for another kind of learning. Having worked for over a decade, Tayo had saved up some money and had the support of friends, which became instrumental in launching Paga. 06:07 2020. See the complete profile on LinkedIn and discover Abdul Samad’s connections and jobs at similar companies. 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. Abdul Samad Isyaku Rabiu was born on the 4 th of August 1960 in Kano state. Abdul Samad Rabiu Family, Net Worth, Wife, House | Famous 1 Hot fameinhistory.com.ng. Coming a short while after the business mogul increased his net worth by almost $5 billion, the scandal of course attracted a lot of criticisms. His late father was Khalifah Isyaku Rabiu, a notable industrialist in the 1970/1980’s. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s. [8] 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, founder and chairman of BUA Group On one of such attacks where Yoruba residents were being slaughtered by an angry mob, the entire family nearly lost their lives but for the timely sound of the gunshot of men from the Nigerian Army. Abdul Samad Rabiu said that preliminary findings show that the two local governments of Guyuk and Lamurde are reputed to have good quality of limestone deposits and BUA … Abdul Samad has 1 job listed on their profile. It has an installed capacity of 2,000 MT of sugar a day. At age 14, the family had their life disrupted by the Hausa-Yoruba crisis which rocked the country in 1999. The 1999 crisis was the third major crisis in which the family survived unscathed – and it did not seem like they would be lucky enough to survive a fourth. In June 2016, Abdul Salad Rabiu was ranked the 1577th richest person in the world by FORBES with an estimated net worth of $1.1 billion. FRC orders banks not to lend money to states without approval, Rich Bitcoin investor moved $175 million worth of BTC for just $0.84, Scaling in Nigeria’s fashion industry is tough work – Ugo Monye. Net Worth of Abdul Samad Rabiu. As the world got ‘techified’, there was a need to merge technology into the classic investment arrangement. In May 2015, Mike Adenuga made a takeover bid and acquired the Ivorian mobile telecoms operator “Comium” in Cote d’Ivoire for $600m. He wanted to help Nigerians pay retailers, make purchases, and pay utility bills without having to handle so much money. A far cry from the company’s humble beginnings. [9], Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. 8 Akilo Road, Ikeja Lagos. Obaseki thanked Rabiu for his continued to support the state’s industrialisation drive as the single largest investor in the state and his immense contribution towards fight against the Coronavirus pandemic. They had gotten married in Kano town and this was the same place they had all their children. 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Born two months before Nigeria’s independence, on the 4th of August, 1960 in Kano, to one of Northern Nigeria’s top business tycoons, Khalifah Isyaku Rabiu, not many would have guessed that the baby Abdulsamad would someday dwarf his father’s achievements by leaps. Rabiu says with the consolidation, BUA Group has a market valuation of about $800 million. It was reported in the news that his company Conoil had failed to pay debts owed to multiple creditors including the French oil giant, Total. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. Nigerian startup, Green Africa to sign deal with Airbus for 100 aircraft. 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. In 2005 BUA started two flour-milling plants, in Lagos and in Kano. Sign in / Register; Search for a company or officer Search. For the first 6 months, Tayo bootstrapped from his personal funds before setting out to raise funds from investors. In 2009, Tayo founded Pagatech as a mobile payments solution focused on digitizing cash amidst new emerging economies. Within 4 years, he established BUA International Limited in 1988 for the purpose of trading in commodity trading like rice, edible oil, flour, and iron and steel. ", "Rabiu, Alakija, others in Forbes 'Black Billionaires' list", "Dangote, Adenuga, Alakija rank among richest Blacks", "Vp Osinbajo's Unquenchable Love For Bua Boss, Abdulsamad Rabiu", "Everyday Heroes: AbdulSamad Rabiu • Connect Nigeria", "Top 3 Achievements of Abdul-Samad Rabiu- Chairman of Nigerian Conglomerate BUA Group", "Legendary Nigerian Businessman Isyaku Rabiu Passes On At 93", https://en.wikipedia.org/w/index.php?title=Abdul_Samad_Rabiu&oldid=983442608, Creative Commons Attribution-ShareAlike License, This page was last edited on 14 October 2020, at 07:42. Margaret 04/09/2020 At 1:39 am. In another well-calculated business move, Rabiu acquired 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. He also had hard times with courses like Semiconductor Chip Design, which he admitted was one of his toughest courses, as he hardly aced it despite his love for the subject. Print This Article Share it With Friends. Life. The company imported rice, edible oil, flour, and iron and steel. 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. Eyitayo David Oviosu was born on September 10, 1977, and acquired both his primary and secondary education in Nigeria. Companies House does not verify the accuracy of the information filed (link opens a new window) ... Search for a company or officer Search. This was the turning point in Rasaq’s life. Cowrywise is fast-becoming an automated savings option of choice, and so, we profile the man behind the initiative – Razaq Ahmed. Abdul Samad has 1 job listed on their profile. I had tested this thing numerous times in the lab; I was confident it was going to work. He returned at the age of 24 years to oversee the family business, at a turbulent time when his father was being detained by the military administration over allegations of evading rice import duties. Cheers to Rabiu as he celebrates his 60th birthday in a very unostentatious style, since the rules of the pandemic do not permit large gatherings. Ruth Okwumbu has a MSc. The company's primary business is the refining of imported and locally sourced raw sugar. Two years later, Rabiu had a major break when BUA was contracted to supply the government-owned Delta Steel Company with raw materials in exchange for finished iron products. “I was also creative in terms of how I spent the money. 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. Some of the projects carried out by the foundation include the construction of a 7,000-square-meter pediatric ward which was donated at the Aminu Kano Teaching Hospital, as well as ambulances and medical supplies. You may contact her via [email protected]. On the part of his Edo State counterpart, Governor Godwin Obaseki, Abdul Samad Rabiu is an astute businessman who has blazed the trail and achieved so much success at 60 years. On the part of his Edo State counterpart, Governor Godwin Obaseki, Abdul Samad Rabiu is an astute businessman who has blazed the trail and achieved so much success at 60 years. Abdul Samad Rabiu speaks at Sheikh Sharif Ibrahim Saleh Islamic Center fundraising ceremony - Duration: 12:46. This classic investment banking arrangement was only open to private institutional investors and high net worth individuals, and the minimum Entry investment was N1million. With this windfall, the company expanded its steel operations, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria. Abdulsamad Rabiu is Chairman & Chief Executive Officer at BUA International Ltd. View Abdulsamad Rabiu’s professional profile on Relationship Science, the database of decision makers. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. This site uses Akismet to reduce spam. AbdulSamad Isyaku Rabiu Age. Abdul Samad Rabiu speaks at Sheikh Sharif Ibrahim Saleh Islamic Center fundraising ceremony - Duration: 12:46. Abdul returned to Nigeria at the age of 24 to overseer the family business. 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