Home African Business Icon Nigerian Business Icon: ABDUL SAMAD RABIU

Nigerian Business Icon: ABDUL SAMAD RABIU

by Valentine Ogbamebor

Born on the 4th of August 1960 in Kano, Nigeria, Abdul Samad Isyaku Rabiu is a Nigerian Businessman. It is not farfetched to say he inherited the business blood as his late father, Mr Khalifah Isyaku Rabiu was one of the foremost Nigerian industrialists in the 1970s and 1980s. To begin his business life, Abdul founded                 international limited around 1988. This company was established for commodity trading I.e Importation of goods like rice, flour, oil and even iron.

Just two years later, the government in charge of Delta steel company formed a contract with BUA for BUA to supply them raw materials in exchange for finished goods. During the period of this contract, BUA had a further expansion of their company as they ventured into Importation of Iron ore, Steel, Production of Billets and they were even contracted to construct several rolling Mills in Nigeria. This all came about as a result of not just the business blood in Abdul Samad Rabiu but his persistence, hardwork, determination and prayers as he is a religious person.

Some years after he ensured the expansion of his company, he further shocked the business world as he expanded again, this time, to acquire Nigerian Oil Mills Limited. Nigerian Oils Limited at that time was regarded as the largest oil processing company in the whole of Nigeria. At early 2005, BUA established two state-of-the-art flour milling plants in Kano and Lagos State. Prior to 2008, there had been any eight year monopoly in the sugar industry of Nigeria but BUA broke this monopoly by commissioning what could only be described as the second largest sugar refinery in sub-saharan Africa.

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It seems as though BUA has an interest in achieving one huge feat or the other every year because in 2009, they decided to acquire a controllers position in a big cement company in Northern Nigeria followed by their construction of a state-of-the-art $900 million cement plant. This cement plant was constructed in Edo state. It’s construction stated that same 2009 but was later completed in 2015. To make it clearer, BUA has the following subsidiaries- BUA CEMENT, BUA ESTATES, BUA PORTS & TERMINALS, BUA OILS and BUA SUGAR. On top of all these achievements, Abdul Samad is the chairman of the Nigerian Bank of Industry otherwise called BOI. As at July 7, 2020 even with how high the Corona Virus impacted the global economy, His estimated wealth was put at $3.2 billion by Forbes making him number 716 in the global billionaires caucus.

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