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Thursday, December 1, 2022

Abdulsamad Rabiu: Biography, source of money, net worth, & more

Abdulsamad Rabiu is no exception when it comes to African business giants. He is now Africa’s sixth richest person, according to Forbes. 

Do you want to learn more about the multibillionaire businessman? Continue reading this article until you have received all of the relevant information.  

Biography 

Abdulsamad Rabiu is a Nigerian billionaire businessman who was born into a wealthy family in his hometown of Kano State on August 4, 1960.  

His father, the late Khalifah Isyaku Rabiu, one of Northern Nigeria’s most powerful industrialists, had instilled in him a strong business sense from an early age.  

However, He had his primary and secondary education in the Kano state of Nigeria and then proceeded to Capital University in Columbus, Ohio, USA, where he obtained a degree in Economics. 

Age 

Abdulsamad Rabiu was born on the 4th of August 1960. This implies that he is presently 61 years of age and will be 62 by August 2022. 

Wife 

There is no exact information in the media as regards the identity of Abdulsamad Rabiu’s wife. 

Also Read: Obasanjo urges Nigerian youths to seize power as soon as possible

Children 

Abdulsamad Rabiu has four children namely, Isyaku Rabiu, Junaid Rabiu, Rukkayah Rania Rabiu and Khadijah Rabiu. There is very little information about his children. 

Source of Wealth 

On arriving in Nigeria in 1984, he was also made to oversee his father’s business at the young age of 24. 

Having gained substantial ideologies of business, he also decided to establish his own business, BUA International Limited, which was mainly focused on imports of steel, iron, rice, and edible oil. 

However, Over the years and after overcoming several challenges that came his way, Abdulsamad Rabiu was able to build his business into a conglomerate, which is known today as BUA Group. 

He is also the chairperson of the Nigerian Bank of Industry known as BoI. 

Net worth 

According to the Forbes list, Alhaji Abdulsamad Rabiu has an estimated net worth of $7 billion. 

Feud with Dangote 

It is also amazing that while there are physical fights, there is an industry fight to know who dominates a market. 

The feud between the two business giants, Abdulsamad and Dangote is also based on who dominates the sugar and cement market in the African economy. 

The fight for sugar market dominance was also propagated because of the construction of the new sugar refinery by BUA international limited in Port Harcourt.   

List of Abdulsamad Rabiu companies 

Alhaji Abdulsamad Rabiu is also the CEO and Chairman of the BUA Group, which oversees a group of companies. Listed below are the companies under the BUA Group: 

  • BUA Cement 
  • BUA sugar refinery 
  • BUA Oil Mills Limited 
  • BUA Estates 
  • BUA Port and Terminals Limited 
  • BUA Flour mills 

 

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