The young Rabiu would not be deterred but went on to weather through the challenges of the dwindling business and earn his own spot in the then uncertain business climate. He returned to Kano as a fresh graduate with a degree in economics from Capital University in Columbus, Ohio, in the United States, a lot had changed while Rabiu was away. Abdulsamad Rabiu Biography. Cheers to Rabiu as he celebrates his 60th birthday in a very unostentatious style, since the rules of the pandemic do not permit large gatherings. He owns stakes in different companies in Nigeria including Stanbic IBTC Bank and Sterling Bank. The Group's plants have the capacity to Provides various grades of cement as required in the local Nigeria markets and meet the highest standard of cement manufacturing. August 04. They have also enjoyed several special treatments from … Linked companies : BUA Cement Plc - Cement Company of Northern Nigeria Plc: Summary : Founder of Nigerian Oil Mills Ltd., BUA Sugar Refinery Ltd., BUA Flour Mills Ltd. and BUA Group, Abdulsamad Rabiu is an entrepreneur and … Abdul Samad RABIU. He was a supporter of Ibrahim Niasse's Tijaniyyah brotherhood. In 2010, Razaq left Meristem for Vetiva Capital Management, where he spent about four months as a Research analyst. [17], Abdul Samad Rabiu uses the BUA Foundation for his philanthropic activities. Abdulsamad Rabiu is one of the richest people in Nigeria and Africa. Fate, however, had other plans. BUA Group 670 views. [11], A few years later, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria. BUA Group 670 views. According to Forbes 2020, Abdul Samad Rabiu has a net worth of $3.2 billion which ranks him 716th in the list of global billionaires club. His father, Khalifah Isyaku Rabiu passed on in 2018, just 5 months shy of 93 years. This marked his introduction into Investment banking, as he was saddled with responsibilities which helped him build capacity. He schooled at Ibadan Grammar School and obtained his Higher School Certificate from the Comprehensive High School Aiyetoro, before travelling out for his higher education. Obaseki thanked Rabiu for his continued to support the state’s industrialisation drive as the single largest investor in the state and his immense contribution towards fight against the Coronavirus pandemic. He also sold drinks and lace materials at one time, doing whatever business he could to raise money. He had most of his early education in Kano and later obtained his Bachelor Degree in Economics from Capital University in Columbus, Ohio. He eventually got a job as a Software Engineer for another startup in Los Angeles, before he moved to Deloitte Consulting in the CRM and Technology practice as a Senior Consultant. Country of residence : Unknown. Abdul Samad Rabiu Family, Net Worth, Wife, House | Famous 1 Hot fameinhistory.com.ng. The industrialist was ranked by Forbes as one of the richest men in the world in 2016 with a net worth of $1.1 billion. [9], Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. [12], 1. This is more so, as Cowrywise gains even more popularity among the emerging generation who have realized that the benefits of subscribing to classic investment schemes might be much more than that of leaving funds idle in the bank – savings. He came out with the best WASC results in his school in Ogbomoso, but his UME score was 20 points below the 235 cut-off mark of the University of Ilorin which he had selected for his first and second choice. Among his properties is a house in Gloucester Square in London worth nearly $16 million and a penthouse at The One & Only Hotel, in Cape Town, worth $12.6 million. Abdul Samad Rabiu is a foremost industrialist, billionaire businessman, philanthropist and the Founder/Executive Chairman of BUA Group – a company which he founded in 1988 and has become one of Nigeria’s largest privately owned foods, mining and infrastructure conglomerate with diversified investments spanning across key business sectors of the Nigerian economy. The company was only recently merged with his privately owned Obu Cement company to create a new entity, BUA Cement Plc. Abdul Samad Rabiu was born on 4 th August, 1960. As of 2020 Abdul Samad Rabiu net worth is $3.1 billion making him the 3rd richest in Nigeria and 716th in the global billionaire’s club. We spend 35% of our foreign exchange on importing petroleum products. Er kehrte um 24 Uhr nach Hause zurück, um das Geschäft seines Vaters in Not zu finden. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s. Schooling was not a smooth ride for Tayo as he had to work his way through, sometimes keeping as much as 5 jobs in order to stay afloat. READ: CBN grants Greenwich Trust Limited operational license for merchant banking. Razaq Ahmed, Co-founder and CEO of CowryWise, is no small fish in the fintech space – an industry that is fast growing to compete with the banking industry. Born two months before Nigeria’s independence, on the 4th of August, 1960 in Kano, to one of Northern Nigeria’s top business tycoons, Khalifah Isyaku Rabiu, not many would have guessed that the baby Abdulsamad would someday dwarf his father’s achievements by leaps. Global trends in recent times have shown a shift towards a cashless and digital economy, especially as it becomes more obvious that operations in physical branches of commercial banks can be summarily shut down when circumstances demand it. 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 June 2016, it came to the limelight that Mike Adenuga was being pursued for a combined debt of over $140.5 million by two foreign and one local company. Abdul Samad is a Nigerian businessman, founder, and chairman of the Nigerian conglomerate BUA. BUA OILS: BUA Oil Mills Limited Lagos is situated at No. Even though there was a tertiary institution – Bayero University – in Kano, it was quite a distance from the town where they lived, so the young children hardly came in contact with people in the academic community. Abdul Samad Isyaku Rabiu was born on the 4 th of August 1960 in Kano state. Tayo Oviosu has now become an angel investor in other startups. When Saheed Bashiru moved to another unit, Razaq became Head of the research unit. “Nigeria imports 90% of it’s petroleum products. A man of several firsts, events of his birthday […] Some of them stayed on to work with Paga when we could afford to pay them at market rates,” he recalled. https://nairametrics.com/2020/03/01/the-zero-to-hero-story-of-abdulsamad-rabiu This site uses Akismet to reduce spam. Abdul Samad had his early education in his hometown before he proceeded to the United States of America to study Economics at Capital University in Columbus, Ohio. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. Though unhappy at the time, he later came to appreciate how the job loss pointed him in the right career path and pushed him out of a line where he would have continued struggling to keep up. 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So, immediately we heard the gunshots, we knew help had come. Today, he is one of Africa’s richest and holds business interests across several sectors of the economy and in various countries on the continent. There was also another donation of N200 million to Adamawa state government, and ambulances to several other states. Earlier in the year, the foundation made a donation of N300 million to Sokoto, Edo and Ogun states to assist in the response to the pandemic, and also a N1 billion donation to the COVID-19 relief fund accounts fight the Coronavirus in Nigeria. From interacting with post-secondary students who were seeking admission, Rasaq soon came to understand that the subjects they were studying were no different from the subjects he was already studying. Abdul Samad Rabiu, Alhaji Nafiu, Alhaji Karami: Isyaku Rabiu (October 9, 1925 – May 7, 2018) was a Nigerian businessman and Islamic scholar who founded a major holding company in Kano State. Abdul Samad Isyaku Rabiu CON chairman of BUA Group at BUA Group Kano, Kano, Nigeria 169 connections Obaseki thanked Rabiu for his continued to support the state’s industrialisation drive as the single largest investor in the state and his immense contribution towards fight against the Coronavirus pandemic. Abdulsamad Rabiu is one of the richest people in Nigeria and Africa. READ: Crypto: Popular Hedge Fund, Grayscale record best quarter ever. In May 2015, Mike Adenuga made a takeover bid and acquired the Ivorian mobile telecoms operator “Comium” in Cote d’Ivoire for $600m. Margaret 04/09/2020 At 1:39 am. Abdul Samad Isyaku Rabiu CON | Kano, Kano, Nigeria | chairman of BUA Group at BUA Group | 169 connections | See Abdul Samad 's complete profile on Linkedin and connect This was my first job out of college and barely 3 months in,” he said. Adenuga saw the potentials of the booming oil industry in Nigeria and started applying for a license in the late ’80s. However, he did not get one until a new policy was made by Professor Jubril Aminu, the Oil Minister during General Ibrahim Babangida’s regime, allowing individuals to venture into oil exploitation and exploration. It was reported in the news that his company Conoil had failed to pay debts owed to multiple creditors including the French oil giant, Total. 8 Akilo Road, Ikeja Lagos. Abdulsamad Rabiu was born into a wealthy family on the 4th of August, 1960 in Kano State. This erupted into a major crisis that claimed the lives of many Yorubas and Hausas across the country. Print This Article Share it With Friends. A far cry from the company’s humble beginnings. Abdul Samad, founder and chairman of BUA Group I don’t have a lot of money but I want to find people who I can make those kinds of investments and bets as well,” he said. The Refinery was conceived as an ultra-modern, automated plant with state of the art equipment. Eyitayo David Oviosu was born on September 10, 1977, and acquired both his primary and secondary education in Nigeria. After his MBA, he worked as Manager Corporate Development with Cisco Systems in San Jose California, where he was responsible for strategy, acquisitions, and private equity investments in a few segments and led Cisco’s investment expansion in Africa with investment opportunities. Making Africans proud! Reply. [6][7], Abdul Samad Rabiu was born in Kano in the north-western part of Nigeria, where he obtained his early education. 2016: Nigeria's Kaduna refinery expected to resume by mid-April - NNPC: RE. Abdulsamad Rabiu net worth: Abdulsamad Rabi is a Nigerian businessman who has a net worth of $700 million. He has received several recognitions including the African Entrepreneur of The Year at ATA in August 2007, Grand Commander Of The Order of Niger (GCON) in 2012, Companion of the Star of Ghana (CSG) in 2018, and was listed among the 100 distinguished and Eminent Nigerians Centenary Awards in 2018, amongst others. Ruth Okwumbu has a MSc. Another company owned by Adenuga, Bellbop, had an interim injunction placed on it by the High Court in Lagos, after it also failed to pay the $9.4 million owed to the US oil and gas firm, Baker Hughes. On one of such attacks where Yoruba residents were being slaughtered by an angry mob, the entire family nearly lost their lives but for the timely sound of the gunshot of men from the Nigerian Army. READ: Contracts less than N5 billion will no longer be awarded to foreign firms – FG. 12:46. The idea, Razaq explains, is to let savings become a lifestyle, you save while living your normal life. [19], "Dangote gains $500 million, Adenuga loses $100 million today! googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. Though the holding company started quite small with about 20 to 30 million naira, it grew fast till it was worth about half a billion naira. The company imported rice, edible oil, flour, and iron and steel. Returning to Kano as a newly-minted graduate with a degree in economics from Capital University in Columbus, Ohio, in the United States, a lot had changed while Rabiu was away. 06:07 2020. Understandably, there would not be any party because of the raging coronavirus pandemic. His parents decided then that they could no longer gamble the lives of the entire family in such a crisis. Mike Adenuga carries out his philanthropic activities through the Mike Adenuga Foundation, helping people in Nigeria and other African countries. READ MORE: Plentywaka raises $300,000, seeks partners as it launches operations in Abuja. President Muhammadu Buhari has extended his warm greetings to the Founder/Chairman of one of Africa’s leading conglomerates, BUA Group, Abdul Samad Rabiu, on … He also had hard times with courses like Semiconductor Chip Design, which he admitted was one of his toughest courses, as he hardly aced it despite his love for the subject. He owns a pent house at The one and only hotel in cape town, South Africa and the United States of America. He had most of his early education in Kano and later obtained his Bachelor Degree in Economics from Capital University in Columbus, Ohio. [2] His late father, Khalifah Isyaku Rabiu, was one of Nigeria's foremost industrialists in the 1970s and 1980s. “This showed me that I did not need to do anything abnormal to become like them, and with this understanding, I became the first person in my immediate family in Kano that would go to a university.”.