Abdul Samad Rabiu is a Nigerian billionaire, entrepreneur and seasoned industrialist well known for his expertise in commodity trading. He is the founder and Chief Executive Officer of BUA, a Nigerian conglomerate with an interest in agriculture, infrastructure, manufacturing, logistics, and port operations.
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Abdul Samad Rabiu has a net worth enough to afford him every luxury of life including good cars and houses. He is also the Chairman of the Nigerian Bank of Industry. In this article, you will get to know more about the savvy Abdul Samad Rabiu as well as the cars and houses he owns.
Abdul Samad Rabiu Profile
|Full Name||Abdul Samad Rabiu|
|Net Worth||$5.5 Billion|
|Date of birth||August 4, 1960|
|Country of Origin||Nigeria|
|State of Origin||Kano State|
|Education||University of Columbus|
|Source of Wealth||Businessman|
Abdul Samad Rabiu Early Life
Abdul Samad Rabiu was born into a wealthy family which gave him access to advance his business at a very young age. Born on the 4th of August, 1960 in Kano State, his father, the late Khalifah Isyaku Rabiu was one of Nigeria’s foremost industrialists in the northern states of Nigeria in the 1970s and 1980s. Abdul Samad Rabiu learnt his entrepreneurial skills from his dad who was a skilful trader who amassed his wealth from commodity trading.
Having had his primary and secondary education in Kano State, Abdul Samad Rabiu proceeded to the United States to obtain a degree in Economics from Capital University in Columbus, Ohio, USA.
Abdul Samad Rabiu Career
Returning to Nigeria after his Bachelor’s degree in the USA, Abdul Samad Rabiu was immediately made to oversee his father’s business at the young age of 24. This was necessitated because his father was detained by the Nigerian government due to allegations of not paying rice import duties.
Abdul Samad Rabiu did a good job managing his father’s business well in his absence, such that the business expanded and recorded high profits. Having gathered much experience from overseeing his father’s business, Abdul Samad Rabiu went on to establish his own company named BUA International Limited basically for the importation of rice, edible oil, iron and steel. BUA International Limited which was started in 1988 has grown into a conglomerate, known across the world.
Two years later, BUA International Limited struck a big deal when they signed an agreement with a government-owned Delta Steel Company in 1990. The deal was for BUA International to supply the company with raw materials for production. In return, BAU International was paid with finished products.
Through thick and thin, Abdul Samad Rafiu successfully built his business till it evolved into what is now known as the BUA Group. BUA Group is a diversified conglomerate with subsidiaries in cement making, sugar refining, oil milling, real estate, and port and terminals. They are also into billets, steel, and iron ore importation, and supplying multiple rolling mills in the country.
BUA Group has several wells know subsidiaries including;
- BUA sugar refinery.
- BUA Port and Terminals Limited
- BUA Estates
- BUA Cement
- BUA Oil Mills Limited
Abdul Samad Rafiu Philanthropy
Like every other wealthy and successful business mogul, Abdul Samad Rafiu founded the BUA Foundation as the corporate social responsibility arm of his multifaceted business empire. In giving back to society, BUA Foundation aims to discover and develop young athletes. The foundation also has footprints in the health sector by donating medicine and other healthcare equipment to the Cancer Centre in FCT, Abuja and medical equipment to Daniel Ogechi Akujobi Memorial Foundation in Ogun State.
In partnership with Rotary Club of Gbagada South, the foundation rendered free ears, nose, and throat clinical screening on pupils of Araromi and Kinniun-Ifa Primary School in Lagos.
Abdul Samad Rafiu’s goodwill gestures have been felt massively in Kano State, Nigeria. For instance, he was a major financier in the construction of a seven thousand square meter pediatric ward at Aminu Kano Teaching Hospital and Islamic Studies Centre at Bayero University, Kano State. In addition, the BUA Foundation disbursed about 600 million naira; an interest fee loan to two thousand farmers in Kano State.
Abdul Samad Rabiu Personal Family
He is married with children, the most popular of his children is Khadija Rabiu. Abdulsamad has many siblings including Nafiu Rabiu, a prominent businessman, and Rabiu Rabiu, the Chairman of IRS Airlines.
Abdul Samad Rabiu Houses
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 Cars
Abdul Samad Rabiu rides expensive, luxurious cars. Some of his list of cars includes;
- A Mercedes Benz G-Wagon
- A Mercedes Benz S-class
- A Toyota Prado SUV
- Range Rover Sport
Armoured Mercedes Benz G-Wagon
The G-Wagon is a luxury SUV made by the German automaker, Mercedes Benz. The SUV boasts of highly upscale interior and exterior design, sufficient cargo space, high ground clearance and many other inspiring features. The price of the G-Wagon varies depending on the additional features the owner decides to add. Generally, the price ranges between 200 million – 300 million NGN.
Mercedes Benz S-Class
This four-door sedan is one of the best models of the Mercedes Benz series. Mercedes Benz S-class is classic and the interior is made from high-quality materials. Made with the latest technologies, the Magic Body Control in her Mercedes Benz S-class is just the perfect luxury car to drive comfortably through rocky terrains in Nigeria. The passenger seat can accommodate about 4-5 people. The starting price of the S-class is 250 million NGN.
Toyota Land Cruiser Prado SUV
When it comes to official matters or less glamorous events, you can easily find Abdul Samad Rabiu in his Toyota Land cruiser. This car is designed as a 4WD SUV with 5 doors worth over 36 million NGN.
Range Rover Sport
Range Rover Sport is a statement of luxury and influence. Anyone with millions in his or her bank account wouldn’t mind buying a Range Rover Sport. This car has a starting price of 70 million NGN. The powerful 5.0 litre V8 Supercharged Petrol engine in the Range Rover provides outstanding performance and driver engagement.
Abdul Samad Rabiu Net Worth
Abdul Samad Rabiu has been recognized by Forbes as one of the richest and powerful men in Africa, and the world at large. His net worth is estimated at $5.5 Billion.