Abdul Samad Rabiu Net Worth and Biography

Abdulsamad Rabiu

Abdul Rabiu who hails from Kano state, Nigeria is one of the richest influential business men in Nigeria. He is the founder and CEO of BUA Group of Companies.

Abdul Rabiu has thrived greatly over the years in the business world, acquiring so much wealth and fame to last him for generations to come. He is also the chairman of BOI (Nigeria Bank Of Industry).

Apart from business, Abdul also has interest in, infrastructure, manufacturing, agriculture , logistics and port operations.

Abdul Rabiu Profile

  • Net worth: $3.2 billion
  • Full Name: Abdul Samad Rabiu
  • Date of Birth: August 4, 1960
  • Nationality: Nigerian
  • Occupation: Businessman and Entrepreneur
  • Education: Capital University, Columbus, Ohio, USA.
  • Marital Status: Married.

Abdul Rabiu Early Life

Abdul Samad Rabiu was born on August 4, 1960 into a family of affluence in Kano state, Nigeria. He is the son of influential and foremost industrialist late Khalifah Isyaku Rabiu, who was a very successful entrepreneur who majored in commodity trading, little wonder then that his son Abdul Rabiu grew up to become a very skillful merchant and a successful entrepreneur like his father was.

Abdul Rabiu obtained his first school leaving certificate and WAEC in Kano before moving to the Capital University in Columbus, Ohio, United States of America ;where he obtained a bachelor’s degree in Economics.

He later returned to Nigeria at age 24 to manage the family business of which his father was the founder, while his father was in detention for refusing to pay import duties on rice.

Abdul Rabiu Career

After assuming the managerial position of his father’s company, on his return from U. S, Abdul Rabiu did everything he could with the limited experience he had, to make the business thrive, and he succeed in doing so.

The experienced he got from managing his father’s business, helped Rabiu to establishing his own company, BUA International Limited, in 1988. The BUA company has grown over the years into a conglomerate.

The BUA company’s focus was on the importation of edible oil, rice, steel and iron. In 1990, Delta Steel Company which was owned by the government, struck a mega deal with BUA limited which was a great breakthrough for the company.

BUA was required in the deal to supply the Delta Steel Company with raw materials for production. BUA was in return paid with finished products, which was indeed a great boom for the company as young as it was.

After a couple of years, BUA International grew into a conglomerate, still under the leadership of Abdul Rabiu. The BUA international, now BUA expand its production into other areas like sugar refining, port and terminal, real estate, cement production and oil milling.

They even expanded further into, steel, billets, iron ore importation and supplying multiple rolling mills in the country. Let’s further consider the various subsidiaries of the great BUA Group of Companies.

BUA Port and Terminals Limited

The company is a concessionaire of Terminal ‘B’ of Port Harcourt, established with the aim of managing different cargoes and the storage.

BUA Port & Terminals manage four berths, Berths 5-8 and two warehouses, warehouse 5 & 7. The types of cargo managed by the company are general cargoes such as, bagged rice, coated steel pipes, and frozen fish .

They also handle dry bulk such as, palm kernel shell, dried wheat, bulk cement, as well as Liquid bulk such as, Base Oil, Premium Motor Spirit (PMS), Crude Palm oil etc.

BUA Sugar Refinery Limited

Formed in 2005 as a private limited liability company, BUA sugar refinery focuses on refining locally and imported raw sugar.

It has refineries in Port Harcourt and Lagos. Yearly, BUA sugar refinery produces 1,440,000 MT of sugar.

It has an installed capacity of 2,000 MT of sugar a day. The technology used is outstanding and from Brazil, known to great extent as having the best technology in sugar production and refinery.

The refinery is set up to generate its own power during the process of converting molasses to sugar. However , provision has also been made for the supply gas from a gas company to fire its turbines

BUA Oil Mills Limited

BUA Oil Mills Limited was preceded by Golden Oil Company which had existed for two decades before it was bought by BUA Oil Mills.

BUA Oil Mills has two refineries, one in Port Harcourt and one in Lagos. It also has two matching fractionation plants with a combined installed capacity of 700TPD.

The older refinery was supplied by Desmet of Belgium and has an installed capacity of 200TPD, while the new refinery, which was commissioned by BUA Oil Mills, was supplied by Alfa Laval with an installed capacity of 500TPD.

BUA CEMENT BUA Group

Has a strong capability in cement production with three major subsidiaries and plants in the North and South of Nigeria as well as a 2 million MT yearly floating terminal serving niche markets.

BUA Group also has a high stake in the Majority Shareholder of Cement Company of Northern Nigeria, Damnaz Cement Company. The Group’s plants are capable of providing different grades of cement as emanded in the Nigerian local market.

BUA ESTATES

In order to meet the growing demands for real estate in Nigeria, BUA Group’s real estate portfolio includes various commercial, residential, as well as mixed-use developments in major Nigerian cities.

Abdul Rabiu is also known for his philanthropic activities as he has constructed a 7,000-square-meter paediatric ward at the Aminu Kano Teaching Hospital through the BUA foundation, not only that, he has also constructed the Centre for Islamic Studies at Bayero University in Kano.

Abdul Rabiu Personal Life Abdul Samad is married with children, the most well-known of his children is Isyaku Rabiu; others are Rukkayah Rania Rabi, Junaid Rabiu, and Khadijah Rabiu.

Abdul Rabiu Net Worth

According to Forbes 2020, Abdul has a net worth of $3.2 billion which ranks him 716th in the list of global billionaires club.