|Date of Birth:
|August 4, 1960 (63 years old)
What is Abdul Samad Rabiu’s Net Worth?
Abdul Samad Rabiu is a Nigerian billionaire businessman and philanthropist who has a net worth of $6.7 billion. Abdul Samad Rabiu was ranked 716th among the world’s billionaires as of July 7, 2020, according to a Forbes assessment.
He was reportedly Nigeria’s second-richest man in January 2022, according to reports. With a net worth of $6.7 billion, Abdul Samad Rabiu was estimated to be the fifth-richest person in Africa as of April 2022.
Abdul Samad Rabiu became the fourth-richest man in Africa in January 2023.
Abdul Samad Rabiu is the founder and chairman of the Nigerian conglomerate BUA Group, which focuses on manufacturing, infrastructure, and agriculture and generates annual revenues of more than $2.5 billion.
In addition, he serves as chairman of the Nigerian Bank of Industry (BOI).
Abdul Samad Rabiu was born on 4 August 1960 in Kano, Nigeria. When he was 24 years old, he returned to Nigeria to manage the family business after attending Capital University in Columbus, Ohio.
In 1988, Abdul Samad Rabiu founded BUA International Limited with the express objective of trading commodities. Rice, edible oil, flour, iron, and steel were all imported by the enterprise.
In 1990, BUA and the government, who owned Delta Steel Company, entered a contract under which BUA would supply raw materials in exchange for finished goods.
Later on, BUA bought Nigerian Oil Mills Limited, which was Nigeria’s biggest producer of edible oil. Two flour-milling facilities were established by BUA in Kano and Lagos in the year 2005.
Abdul Samad Rabiu performs his charitable works through the BUA Foundation. These include, among others, building a 7,000-square-meter pediatric ward at the Aminu Kano Teaching Hospital and the Centre for Islamic Studies at Bayero University Kano.
Abdul Samad Rabiu has four children and 42 siblings.
Muhammadu Buhari, the president of Nigeria, awarded him the title of Commander of the Order of the Federal Republic (CFR) in October 2022.
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