Abdulsamad Rabiu Net Worth, Age, Height, Wife, Biography, Children, Family, Parents
Abdulsamad Rabi Net Worth
Abdulsamad Rabiu, a Nigerian businessman and philanthropist has an estimated net worth of $8.3 billion.
His fortune has increased by approximately $2.7 billion in the space of a year, from $4.9 billion at the start of 2022 to $7.6 billion on Saturday, January 14.
| Net Worth | $8.3 billion |
| Name | Abdulsamad Rabiu |
| Gender | Male |
| Born | 4 August 1960 |
| Age | 62 years old |
| Place of birth | Kano, Kano State, Nigeria |
| Profession | Businessman |
| Nationality | Nigerian |
Who is Abdulsamad Rabiu?
Abdul Samad Isyaku Rabiu is a prominent Nigerian billionaire businessman and philanthropist, following in the footsteps of his late father, Khalifah Isyaku Rabiu, who was a renowned industrialist in Nigeria during the 1970s and 1980s.
As the founder and chairman of BUA Group, a conglomerate that focuses on manufacturing, infrastructure, and agriculture, Rabiu has built a business empire that generates revenue exceeding $2.5 billion. He also holds the esteemed position of chairman of the Nigerian Bank of Industry (BOI).
Rabiu's wealth has garnered attention globally, with Forbes estimating his net worth at $3.2 billion in July 2020, placing him in the 716th position in the billionaire's club worldwide.
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In January 2022, he was recognized as the second richest man in Nigeria, and by April 2022, he had climbed the ranks to become the fifth richest man in Africa, with a net worth of $6.7 billion. As of January 2023, Rabiu's fortunes continue to rise, as he now holds the title of the fourth richest man in Africa.
How old is Abdulsamad Rabiu?
Born on 4 August 1960 in Kano, Kano state Nigeria, Abdulsamad Rabi age is 62 years old.
Abdulsamad Rabiu as a Businessman
Abdul Samad Rabiu established BUA International Limited in 1988 with a focus on commodity trading. Initially, the company imported rice, edible oil, flour, iron and steel.
In 1990, BUA struck a deal with the government, which owned Delta Steel Company, to supply raw materials in exchange for finished products, propelling the company's growth.
With this success, BUA expanded its operations in the steel industry, producing billets, importing iron ore, and setting up multiple rolling mills across Nigeria. In addition, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria.
In 2005, BUA ventured into flour milling with the establishment of two plants in Lagos and Kano.
By 2008, BUA made a significant breakthrough by breaking an eight-year monopoly in the Nigerian sugar industry, with the commissioning of the second-largest sugar refinery in sub-Saharan Africa.
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The company continued to expand its presence in the cement industry, acquiring a controlling stake in a publicly-listed Cement Company in Northern Nigeria in 2009.
BUA then embarked on the construction of a $900 million cement plant in Edo State, which was completed in early 2015, further solidifying its position as a major player in Nigeria's industrial sector.
Abdulsamad Rabiu Wife and Children
Abdul Samad is a married man and a proud father to four children: Isyaku Rabiu, Junaid Rabiu, Rukaiya Rania Rabiu, and Khadijah Rabiu.
He hails from a large family with a total of 42 siblings, including Nafiu Rabiu and Rabiu Rabiu, who holds the esteemed position of Chairman at IRS Airlines.
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