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*[[Commander of the Order of the Niger]]}}
*[[Commander of the Order of the Niger]]}}
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'''Abdul Samad Isyaku Rabiu''' {{Pronunciation|Ha-Abdul Samad Isyaku Rabiu.ogg|Listen|(|help=no}} {{post-nominals|country=NG|CFR|CON}}<ref>{{Cite web |date=2022-10-02 |title=FULL LIST: Okonjo-Iweala, Abba Kyari... FG nominates 437 persons for national honours |url=https://www.thecable.ng/full-list-okonjo-iweala-abba-kyari-former-cos-fg-nominates-437-persons-for-national-honours |access-date=2022-10-13 |website=TheCable |language=en-US}}</ref>(born 4 August 1960) is a Nigerian billionaire businessman and philanthropist.<ref>{{Cite web|url=http://encomium.ng/dangote-gains-500-million-adenuga-loses-100-million-today/|title=Dangote gains $500 million, Adenuga loses $100 million today!|website=Encomium Magazine|date=5 March 2019 |language=en-US|access-date=2019-03-19}}</ref> 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&nbsp;billion. He is also the chairman of the [[The Bank of Industry|Nigerian Bank of Industry]] (BOI).<ref>{{Cite web|url=https://www.premiumtimesng.com/business/business-news/317838-rabiu-alakija-others-in-forbes-black-billionaires-list.html|title=Rabiu, Alakija, others in Forbes 'Black Billionaires' list|date=2019-03-06|website=Premium Times Nigeria|language=en-GB|access-date=2019-03-19}}</ref><ref>{{Cite web|url=https://punchng.com/dangote-adenuga-alakija-rank-among-richest-blacks/|title=Dangote, Adenuga, Alakija rank among richest Blacks|website=Punch Newspapers|date=7 March 2019 |language=en-US|access-date=2019-03-19}}</ref><ref>{{Cite web|url=https://www.thisdaylive.com/index.php/2018/11/18/vp-osinbajos-unquenchable-love-for-bua-boss-abdulsamad-rabiu/|title=Vp Osinbajo's Unquenchable Love For Bua Boss, Abdulsamad Rabiu|date=2018-11-18|website=THISDAYLIVE|language=en-US|access-date=2019-03-19}}</ref>
'''Abdul Samad Isyaku Rabiu''' {{Pronunciation|Ha-Abdul Samad Isyaku Rabiu.ogg|Listen|(|help=no}} {{post-nominals|country=NG|CFR|CON}}<ref>{{Cite web |date=2022-10-02 |title=FULL LIST: Okonjo-Iweala, Abba Kyari... FG nominates 437 persons for national honours |url=https://www.thecable.ng/full-list-okonjo-iweala-abba-kyari-former-cos-fg-nominates-437-persons-for-national-honours |access-date=2022-10-13 |website=TheCable |language=en-US}}</ref>(born 4 August 1960) is a Nigerian [[billionaire]] businessman and philanthropist.<ref>{{Cite web|url=http://encomium.ng/dangote-gains-500-million-adenuga-loses-100-million-today/|title=Dangote gains $500 million, Adenuga loses $100 million today!|website=Encomium Magazine|date=5 March 2019 |language=en-US|access-date=2019-03-19}}</ref> 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&nbsp;billion. He is also the chairman of the [[The Bank of Industry|Nigerian Bank of Industry]] (BOI).<ref>{{Cite web|url=https://www.premiumtimesng.com/business/business-news/317838-rabiu-alakija-others-in-forbes-black-billionaires-list.html|title=Rabiu, Alakija, others in Forbes 'Black Billionaires' list|date=2019-03-06|website=Premium Times Nigeria|language=en-GB|access-date=2019-03-19}}</ref><ref>{{Cite web |title=Abdulsamad Rabiu: from trading rice to building $8.2 billion empire – CEO Worldwide |url=https://ceoww.com/abdulsamad-rabiu |access-date=2023-04-17 |language=en-US}}</ref><ref>{{Cite web|url=https://punchng.com/dangote-adenuga-alakija-rank-among-richest-blacks/|title=Dangote, Adenuga, Alakija rank among richest Blacks|website=Punch Newspapers|date=7 March 2019 |language=en-US|access-date=2019-03-19}}</ref><ref>{{Cite web|url=https://www.thisdaylive.com/index.php/2018/11/18/vp-osinbajos-unquenchable-love-for-bua-boss-abdulsamad-rabiu/|title=Vp Osinbajo's Unquenchable Love For Bua Boss, Abdulsamad Rabiu|date=2018-11-18|website=THISDAYLIVE|language=en-US|access-date=2019-03-19}}</ref>


On 7 July 2020, ''Forbes'' estimated Rabiu's wealth at $3.2&nbsp;billion, putting him 716th in the global [[Forbes list of billionaires|billionaire's club]].<ref>{{Cite web|url = https://www.forbes.com/profile/abdulsamad-rabiu/|title = Abdulsamad Rabiu|date = |access-date = 12 February 2016|website = Forbes Africa's 50 Richest|last = |first = }}</ref><ref>{{Cite web|url=https://www.forbes.com/sites/mfonobongnsehe/2019/03/05/the-black-billionaires-2019/|title=The Black Billionaires 2019|last=Nsehe|first=Mfonobong|website=Forbes|language=en|access-date=2019-03-19}}</ref> In January 2022, he was reported to be the second richest man in Nigeria.<ref>{{Cite web|last=Oluwole|first=Victor|date=2022-01-07|title=Abdul Samad Rabiu is now the second-richest man in Nigeria|url=https://africa.businessinsider.com/local/leaders/abdul-samad-rabiu-is-now-the-second-richest-man-in-nigeria/gb45mef|access-date=2022-01-11|website=Business Insider Africa|language=en}}</ref> In April 2022 he was reported to be the fifth-richest man in Africa, with a net worth of $6.7 billion.<ref>{{Cite web |last=Nworah |first=Victor |date=April 27, 2022 |title=Nigerian Billionaire, Abdul Samad Rabiu is now the 5th Richest African |url=https://tickernewsng.com/nigerian-billionaire-abdul-samad-rabiu-is-now-the-5th-richest-african/ |access-date=April 28, 2022 |website=Tickernewsng.com}}</ref> In January 2023, Rabiu was reported to have become the 4th richest man in Africa.<ref>{{cite web | url=https://www.agenceecofin.com/actualites/1601-104478-le-nigerian-abdul-samad-rabiu-detrone-l-egyptien-nassef-sawiris-et-devient-le-4e-homme-le-plus-riche-d-afrique | title=Le Nigérian Abdul Samad Rabiu détrône l'Egyptien Nassef Sawiris et devient le 4e homme le plus riche d'Afrique }}</ref>
On 7 July 2020, ''Forbes'' estimated Rabiu's wealth at $3.2&nbsp;billion, putting him 716th in the global [[Forbes list of billionaires|billionaire's club]].<ref>{{Cite web|url = https://www.forbes.com/profile/abdulsamad-rabiu/|title = Abdulsamad Rabiu|date = |access-date = 12 February 2016|website = Forbes Africa's 50 Richest|last = |first = }}</ref><ref>{{Cite web|url=https://www.forbes.com/sites/mfonobongnsehe/2019/03/05/the-black-billionaires-2019/|title=The Black Billionaires 2019|last=Nsehe|first=Mfonobong|website=Forbes|language=en|access-date=2019-03-19}}</ref> In January 2022, he was reported to be the second richest man in Nigeria.<ref>{{Cite web|last=Oluwole|first=Victor|date=2022-01-07|title=Abdul Samad Rabiu is now the second-richest man in Nigeria|url=https://africa.businessinsider.com/local/leaders/abdul-samad-rabiu-is-now-the-second-richest-man-in-nigeria/gb45mef|access-date=2022-01-11|website=Business Insider Africa|language=en}}</ref>
In April 2022 he was reported to be the fifth-richest man in Africa, with a net worth of $6.7 billion.<ref>{{Cite web |last=Nworah |first=Victor |date=April 27, 2022 |title=Nigerian Billionaire, Abdul Samad Rabiu is now the 5th Richest African |url=https://tickernewsng.com/nigerian-billionaire-abdul-samad-rabiu-is-now-the-5th-richest-african/ |access-date=April 28, 2022 |website=Tickernewsng.com}}</ref>
In January 2023, Rabiu was reported to have become the 4th richest man in Africa.<ref>{{cite web | url=https://www.agenceecofin.com/actualites/1601-104478-le-nigerian-abdul-samad-rabiu-detrone-l-egyptien-nassef-sawiris-et-devient-le-4e-homme-le-plus-riche-d-afrique | title=Le Nigérian Abdul Samad Rabiu détrône l'Egyptien Nassef Sawiris et devient le 4e homme le plus riche d'Afrique }}</ref>


== Early life ==
== Early life ==
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Abdul Samad Rabiu was born and raised in [[Kano (city)|Kano]] in the north-western part of [[Nigeria]]. He attended [[Capital University]] in Columbus, [[Ohio]] and returned to [[Nigeria]] at the age of 24 to oversee the family business.<ref name="Aluwong">{{Cite web|title=Everyday Heroes: AbdulSamad Rabiu |url=https://connectnigeria.com/articles/2020/04/everyday-heroes-abdulsamad-rabiu/|last=Aluwong|first=Jeremiah|date=2020-04-08|website=Connect Nigeria|language=en-GB|access-date=2020-05-27 |archive-url=https://web.archive.org/web/20201217012025/https://connectnigeria.com/articles/2020/04/everyday-heroes-abdulsamad-rabiu/ |archive-date=2020-12-17}}</ref> This was when his father [[Isyaku Rabiu]] was being detained by the administration of General [[Muhammadu Buhari]] for allegedly not paying rice import duties.<ref name="Aluwong"/>
Abdul Samad Rabiu was born and raised in [[Kano (city)|Kano]] in the north-western part of [[Nigeria]]. He attended [[Capital University]] in Columbus, [[Ohio]] and returned to [[Nigeria]] at the age of 24 to oversee the family business.<ref name="Aluwong">{{Cite web|title=Everyday Heroes: AbdulSamad Rabiu |url=https://connectnigeria.com/articles/2020/04/everyday-heroes-abdulsamad-rabiu/|last=Aluwong|first=Jeremiah|date=2020-04-08|website=Connect Nigeria|language=en-GB|access-date=2020-05-27 |archive-url=https://web.archive.org/web/20201217012025/https://connectnigeria.com/articles/2020/04/everyday-heroes-abdulsamad-rabiu/ |archive-date=2020-12-17}}</ref> This was when his father [[Isyaku Rabiu]] was being detained by the administration of General [[Muhammadu Buhari]] for allegedly not paying rice import duties.<ref name="Aluwong"/>


== Business ==
== Businesses ==


Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. The company imported rice, edible oil, flour, and iron and steel.<ref name="Aluwong"/>
Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. The company imported rice, edible oil, flour, and iron and steel.<ref name="Aluwong"/>
Line 30: Line 34:
In 1990, the government, which owned Delta Steel Company, contracted with BUA to supply its raw materials in exchange for finished products. This provided a much-needed windfall for the young company. BUA expanded further into steel, producing [[Billet (semi-finished product)|billets]], importing iron ore, and constructing multiple [[rolling mill]]s in Nigeria.<ref name="Aluwong"/>
In 1990, the government, which owned Delta Steel Company, contracted with BUA to supply its raw materials in exchange for finished products. This provided a much-needed windfall for the young company. BUA expanded further into steel, producing [[Billet (semi-finished product)|billets]], importing iron ore, and constructing multiple [[rolling mill]]s in Nigeria.<ref name="Aluwong"/>


Years later, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in [[Nigeria]]. In 2005 BUA started two flour-milling plants, in [[Lagos]] and in [[Kano (city)|Kano]]. 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. 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&nbsp;million cement plant in Edo State, completing it in early 2015.<ref name="Aluwong"/>
Years later, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in [[Nigeria]]. In 2005 BUA started two flour-milling plants, in [[Lagos]] and in [[Kano (city)|Kano]].
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.
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&nbsp;million cement plant in Edo State, completing it in early 2015.<ref name="Aluwong" />


== Philanthropy ==
== Philanthropy ==

Revision as of 19:31, 17 April 2023

Abdul Samad Rabiu
CFR CON
Born (1960-08-04) 4 August 1960 (age 64)
Kano, Northern Region, British Nigeria (now in Kano State, Nigeria)
OccupationBusinessman
RelativesKabiru Isyaku Rabiu,
Honours

Abdul Samad Isyaku Rabiu (Listenⓘ) CFR CON[1](born 4 August 1960) is a Nigerian billionaire businessman and philanthropist.[2] 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. He is also the chairman of the Nigerian Bank of Industry (BOI).[3][4][5][6]

On 7 July 2020, Forbes estimated Rabiu's wealth at $3.2 billion, putting him 716th in the global billionaire's club.[7][8] In January 2022, he was reported to be the second richest man in Nigeria.[9]

In April 2022 he was reported to be the fifth-richest man in Africa, with a net worth of $6.7 billion.[10]

In January 2023, Rabiu was reported to have become the 4th richest man in Africa.[11]

Early life

Abdul Samad Rabiu was born and raised in Kano in the north-western part of Nigeria. He attended Capital University in Columbus, Ohio and returned to Nigeria at the age of 24 to oversee the family business.[12] This was when his father Isyaku Rabiu was being detained by the administration of General Muhammadu Buhari for allegedly not paying rice import duties.[12]

Businesses

Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. The company imported rice, edible oil, flour, and iron and steel.[12]

In 1990, the government, which owned Delta Steel Company, contracted with BUA to supply its raw materials in exchange for finished products. This provided a much-needed windfall for the young company. BUA expanded further into steel, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria.[12]

Years later, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria. In 2005 BUA started two flour-milling plants, in Lagos and in Kano.

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.

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.[12]

Philanthropy

Abdul Samad Rabiu uses the BUA Foundation for his philanthropic activities. 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.[13]

Personal life

Abdul Samad is married with children: Isyaku Rabiu, Junaid Rabiu, Rukaiya Rania Rabiu and Khadijah Rabiu. He has 42 siblings including Nafiu Rabiu and Rabiu Rabiu, the chairman of IRS Airlines.[14]

Award

In October 2022, a Nigerian national honour of Commander of the Order of the Federal Republic (CFR) was conferred on him by President Muhammadu Buhari.[15]

References

  1. ^ "FULL LIST: Okonjo-Iweala, Abba Kyari... FG nominates 437 persons for national honours". TheCable. 2 October 2022. Retrieved 13 October 2022.
  2. ^ "Dangote gains $500 million, Adenuga loses $100 million today!". Encomium Magazine. 5 March 2019. Retrieved 19 March 2019.
  3. ^ "Rabiu, Alakija, others in Forbes 'Black Billionaires' list". Premium Times Nigeria. 6 March 2019. Retrieved 19 March 2019.
  4. ^ "Abdulsamad Rabiu: from trading rice to building $8.2 billion empire – CEO Worldwide". Retrieved 17 April 2023.
  5. ^ "Dangote, Adenuga, Alakija rank among richest Blacks". Punch Newspapers. 7 March 2019. Retrieved 19 March 2019.
  6. ^ "Vp Osinbajo's Unquenchable Love For Bua Boss, Abdulsamad Rabiu". THISDAYLIVE. 18 November 2018. Retrieved 19 March 2019.
  7. ^ "Abdulsamad Rabiu". Forbes Africa's 50 Richest. Retrieved 12 February 2016.
  8. ^ Nsehe, Mfonobong. "The Black Billionaires 2019". Forbes. Retrieved 19 March 2019.
  9. ^ Oluwole, Victor (7 January 2022). "Abdul Samad Rabiu is now the second-richest man in Nigeria". Business Insider Africa. Retrieved 11 January 2022.
  10. ^ Nworah, Victor (27 April 2022). "Nigerian Billionaire, Abdul Samad Rabiu is now the 5th Richest African". Tickernewsng.com. Retrieved 28 April 2022.
  11. ^ "Le Nigérian Abdul Samad Rabiu détrône l'Egyptien Nassef Sawiris et devient le 4e homme le plus riche d'Afrique".
  12. ^ a b c d e Aluwong, Jeremiah (8 April 2020). "Everyday Heroes: AbdulSamad Rabiu". Connect Nigeria. Archived from the original on 17 December 2020. Retrieved 27 May 2020.
  13. ^ Agboola, Oluwatoyin (10 September 2018). "Top 3 Achievements of Abdul-Samad Rabiu- Chairman of Nigerian Conglomerate BUA Group". Olatorera Consultancy Limited. Retrieved 19 March 2019.
  14. ^ Nsehe, Mfonobong. "Legendary Nigerian Businessman Isyaku Rabiu Passes On At 93". Forbes. Retrieved 12 July 2020.
  15. ^ "FULL LIST: 2022 National Honours Award Recipients The Nation Newspaper". 9 October 2022. Retrieved 29 October 2022.
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