BUA ESTATES: To meet the growing demands for real estate in Nigeria, BUA Group's real estate portfolio includes various residential, commercial and mixed-use developments in major Nigerian cities. Also, at about the same time, there were indicators showing a larger pool of ordinary individuals interested in being a part of the arrangement. Abdul Samad Isyaku Rabiu CON ( 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. In the cement industry in Nigeria, two names are Kings, Chairman of Dangote Group, Alhaji Aliko Dangote, and Abdul Samad Rabiu, the boss of Bua Group. He hails from Kano, Nigeria. Some of them stayed on to work with Paga when we could afford to pay them at market rates,” he recalled. Sa'adatu Abdullahi 09/05/2020 At 5:59 am. Rabiu says with the consolidation, BUA Group has a market valuation of about $800 million. Every successful person in the community around whom we could identify with seemed to have toed that path, so this was what shaped our thinking at the time and defined our idea of success.”. 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. He wanted to help Nigerians pay retailers, make purchases, and pay utility bills without having to handle so much money. In 2009 the company went on to acquire a controlling stake in a publicly-listed Cement Company in Northern Nigeria and began to construct a $900 million cement plant in Edo State, completing it in early 2015. To eliminate bumps from the process, Cowrywise introduced the automated savings option that allows people to use a saving schedule and invest as easily as they spend. The company was only recently merged with his privately owned Obu Cement company to create a new entity, BUA Cement Plc. 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. Having worked for over a decade, Tayo had saved up some money and had the support of friends, which became instrumental in launching Paga. He is a business magnate and the founder & chairman of BUA group, a Nigerian conglomerate focused on manufacturing, infrastructure and agriculture. The mob only had sticks and cutlasses. Coming a short while after the business mogul increased his net worth by almost $5 billion, the scandal of course attracted a lot of criticisms. He said “On behalf of my family, the people and government of Kwara State, I congratulate the founder and chairman of the BUA Group, Alhaji Abdul Samad Rabiu (CON), on his 60th birthday anniversary. Abdulsamad Rabiu, is the billionaire (net worth $1.2 billion) chairman and CEO of BUA Group, a ... Rabiu owns property in Britain worth $62 million, and in South Africa, worth $19 million. Rabiu rattles out the value chain from iron ore to finished steel in a heartbeat. He is also the chairman of the Nigerian Bank of Industry (BOI). The older refinery was supplied by Desmet of Belgium and has an installed capacity of 200TPD, while the new refinery, which was commissioned by BUA Oil Mills, was supplied by Alfa Laval with an installed capacity of 500TPD. Abdul Samad Rabiu owns properties in Eaton square and Avenue road also known as millionaire’s row. The agreement was signed by the Chairman of BUA Group, Abdul Samad Rabiu, and the CEO of Axens, Jean Sentenac, in a ceremony presided over by … Rasaq’s parents had no plans of relocating and the future seemed pretty much predictable. Rabiu also made a personal donation of N1 billion to support Nigeria’s response to the virus, and medical and emergency kits and supplies to 9 States in the country. BUA Group 670 views. The axiom goes that “life begins at 40”, but for Mike Adenuga, the CEO of Globacom, who became a millionaire at the young age of 26, life began in his 20s. 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. Abdul Samad Isyaku Rabiu was born on the 4 th of August 1960 in Kano state. 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. Abdul Samad Rabiu speaks at Sheikh Sharif Ibrahim Saleh Islamic Center fundraising ceremony - Duration: 12:46. You may contact her via [email protected]. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a […] Fate smiled on him, and thanks to his numerous hustles, he made his first million in 1979 at the age of 26, and has not stopped since then. [10], In 1990, the government, which owned Delta Steel Company, contracted with BUA to supply its raw materials in exchange for finished products. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. He later left the country and went to live in London for a while until late President Umaru Musa Yar’Adua’s regime granted him a pardon, making it possible for him to return home to Nigeria. Abdulsamad Rabiu is Chairman & Chief Executive Officer at BUA International Ltd. View Abdulsamad Rabiu’s professional profile on Relationship Science, the database of decision makers. Subsequently, he was implicated and detained for money laundering. BUA Group 670 views. They had gotten married in Kano town and this was the same place they had all their children. Making Africans proud! Reply. 06:07 2020. Razaq and his siblings started their early education there. The company has two refinery plants and matching fractionation plants with a combined installed capacity of 700TPD. Responding, Governor Okowa described the Executive Chairman of BUA Group, Abdul Samad Rabiu, as a true philanthropist, adding that the donation was timely to … Rabiu says with the consolidation, BUA Group has a market valuation of about $800 million, far cry from the company’s humble beginnings. In the subsequent months, he survived on the unemployment benefits he collected from the state of California, before getting a job in a mail-room and then a call center. He also holds a Yoruba Chieftaincy as the Otunba Apesin of the Ijebu clan. Abdul Samad Isyaku Rabiu CON (born 4 August 1960 in Kano, Nigeria) is a Nigerian businessman. Adenuga saw the potentials of the booming oil industry in Nigeria and started applying for a license in the late ’80s. Fresh out of school, he opted to take the same Semiconductor Chip Design as a career option in Biomorphic VLSI, a startup of 8 employees, hoping to get better at it with more practice. Eyitayo David Oviosu was born on September 10, 1977, and acquired both his primary and secondary education in Nigeria. READ: Razaq Okoya: The journey from apprentice-tailor to billionaire business mogul, Even though Razaq was intelligent and excelled in his studies, he expected to become a generator mechanic and did not see that much could come out of his education. [6][7], Abdul Samad Rabiu was born in Kano in the north-western part of Nigeria, where he obtained his early education. [19], "Dangote gains $500 million, Adenuga loses $100 million today! 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. Understandably, there would not be any party because of the raging coronavirus pandemic. A man of several firsts, events of his birthday […] So, immediately we heard the gunshots, we knew help had come. Nigerian startup, Green Africa to sign deal with Airbus for 100 aircraft. As a secondary school student at the Army Day secondary school, he would close from school with the rest of his friends, change into casual wears, and resume at the workshop for another kind of learning. Abdul Samad Isyaku Rabiu CON chairman of BUA Group at BUA Group Kano, Kano, Nigeria 169 connections 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. 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. In 2010, Razaq left Meristem for Vetiva Capital Management, where he spent about four months as a Research analyst. 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. 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. Pagatech reached its first 1 million users within 2 years and since then, the number of its users has grown into tens of millions processing billions of dollars in transactions. Some of the projects carried out by the foundation include the construction of a 7,000-square-meter pediatric ward which was donated at the Aminu Kano Teaching Hospital, as well as ambulances and medical supplies. “I got called into my boss’ office and he told me he had to let me go. Companies House does not verify the accuracy of the information filed (link opens a new window) ... Search for a company or officer Search. The company is the concessionaire for the Port Harcourt Terminal 'B' of the Nigeria Ports Authority, NPA. It was a mutually beneficial arrangement where the investors were issued the SART commodity link notes to make investments, and they got returns at the end of the month. In June 2016, Abdul Salad Rabiu was ranked the 1577th richest person in the world by FORBES with an estimated net worth of $1.1 billion. Country of residence : Unknown. Abdul Samad Rabiu in knowledge, wisdom, and understanding. For Tayo, founding Pagatech was all about addressing two challenges – the excessive use of cash, and limited financial access in Nigeria. He obtained the drilling license in 1990 and started exploration with his new company, Consolidated Oil, in Ondo state. A far cry from the company’s humble beginnings. 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Razaq recalled that the community in which he spent the first 14 years of his life had an unusual perception of education. Though he didn’t throw a party to celebrate the landmark achievement, memories of his philanthropy to mark the event are still fresh on many minds. View Abdul Samad Rabiu’s profile on LinkedIn, the world’s largest professional community. 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. Er kehrte um 24 Uhr nach Hause zurück, um das Geschäft seines Vaters in Not zu finden. [17], Abdul Samad Rabiu uses the BUA Foundation for his philanthropic activities. Unlike other self-made billionaires, Abdul Samad Isyaka was born with a silver spoon because his late father, Khalifah Isyaku Rabiu, a millionaire himself, was one of … SUBGOLD LIMITED (03045334) Company status This was revealed when the Chairman of BUA, Abdul Samad Rabiu led the BUA Cement Management team on a courtesy call to the Adamawa State Governor, Ahmadu Umaru Fintiri in the Government House, Yola. READ: FRC orders banks not to lend money to states without approval. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s. View Abdul Samad Rabiu’s profile on LinkedIn, the world’s largest professional community. A local oil servicing company, Depthwize, for instance, had been forced to lay off workers and shut down services on two of Conoil’s rigs, saying the debt of $40 million had incapacitated the company to the point that it could no longer afford the day to day running cost of working on the rigs. Learn how your comment data is processed. He has dreams of dual-listing Paga on the NSE and NASDAQ in the nearest future. It was reported that some of the creditors had been hit so hard by the huge debts, that they had to shut down some of their operations. READ: CBN grants Greenwich Trust Limited operational license for merchant banking. by admin 0 Comments Today, August 4, industrialist extraordinaire, philanthropist and chairman of BUA Group, Abdulsamad Rabiu, clocked 60. There was also another donation of N200 million to Adamawa state government, and ambulances to several other states. READ: Crypto: Popular Hedge Fund, Grayscale record best quarter ever. The fracas was traced back to some Hausa men who had been killed in Sango-Ota and their bodies sent home to their families in Kano. Ordinarily, the tale that should abound about the Chairman of Bua Group, Abdul Samad Rabiu is his post 60th birthday celebration. The young Tayo worked weekdays and weekends trying to get a hang of the task before him. Notwithstanding, Adenuga fondly attributes his business sense to his mother, who was also a businesswoman. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. On the part of his Edo State counterpart, Governor Godwin Obaseki, Abdul Samad Rabiu is an astute businessman who has blazed the trail and achieved so much success at 60 years. FRC orders banks not to lend money to states without approval, Rich Bitcoin investor moved $175 million worth of BTC for just $0.84, Scaling in Nigeria’s fashion industry is tough work – Ugo Monye. May he continue to increase in wealth and be guided to the right path among those who Allah is pleased with Amin. READ ALSO: How the United States plans to control the African Development Bank. “The idea of cowrywise came in when we had a lot of people come asking ‘how do I invest 1000 naira and small amounts like 50,000 naira. 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 … Everyone who helped us in the early days got paid below the market rate. I cried right there. He had most of his early education in Kano and later obtained his Bachelor Degree in Economics from Capital University in Columbus, Ohio. After shooting in the air to disperse the mob, the soldiers took them to the Bukavu barracks where they were camped as Internally Displaced Persons (IDPs) in the Army Day Secondary School – the same school where Rasaq was a student. READ: Contracts less than N5 billion will no longer be awarded to foreign firms – FG. He became Vice President at Travant Capital Partners in Lagos upon his return to Nigeria and remained there till 2009. 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. 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. By the end of the 90s, as the nation returned to the democratic dispensation, Adenuga saw another potential in the telecommunication industry and acquired a conditional GSM license from the Federal Government in 1999. This was revealed when the Chairman of BUA, Abdul Samad Rabiu led the BUA Cement Management team on a courtesy call to the Adamawa State Governor, Ahmadu Umaru Fintiri in the Government House, Yola. Abdulsamad Rabiu is one of the richest people in Nigeria and Africa. 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. Fate, however, had other plans. May Almighty Allah guide and protect him. Razaq Ahmed was born in Kano, where his parents lived. [3][4][5], On July 7, 2020, Forbes estimated Abdul Samad's wealth at $3.2 billion, putting him 716th in the global billionaire's club. Having caused the company to spend so much for nothing, he was fired from the job. Michael Adeniyi Agbolade Ishola Adenuga was born on the 29th of April, 1953 to the family of Oloye Michael Agbolade Adenuga Snr. I had tested this thing numerous times in the lab; I was confident it was going to work. In 2005 BUA started two flour-milling plants, in Lagos and in Kano. He explained that his years as an investment banker had shown him the larger market in the informal and alternative asset space which, though profitable, was not exposed to investors. READ: Nigerian startup, Green Africa to sign deal with Airbus for 100 aircraft. The Refinery was conceived as an ultra-modern, automated plant with state of the art equipment. Razaq’s story is a captivating one that sees one unfortunate event changing the fate of a young man. 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. While working at the SPDC, he also took a professional course to become an Energy Risk Professional (ERP). Abdul Samad Rabiu owns properties in Eaton square and Avenue road also known as millionaire’s row. According to Forbes Magazine, Abdul Samad Rabiu is a multi-billionaire with a net worth of over $3 billion as of 2020. Abdul Samad Rabiu speaks at Sheikh Sharif Ibrahim Saleh Islamic Center fundraising ceremony - Duration: 12:46. [12], 1. 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. [11], A few years later, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria. He had most of his early education in Kano and later obtained his Bachelor Degree in Economics from Capital University in Columbus, Ohio. “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.”. This set the stage for his later moves to break the eight-year monopoly in the Nigerian sugar industry, when he commissioned BUA sugar refinery, said to be the second-largest sugar refinery in sub-Saharan Africa. This classic investment banking arrangement was only open to private institutional investors and high net worth individuals, and the minimum Entry investment was N1million. Abdul Samad has 1 job listed on their profile. In 2009, Tayo founded Pagatech as a mobile payments solution focused on digitizing cash amidst new emerging economies. Abdul Samad Isyaku Rabiu is a Nigerian businessman. 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 [16], 5. BUA SUGAR: BUA Sugar Refinery Limited was incorporated on April 13, 2005, as a private limited liability company. 06:07 2020. Such innovation was not common at the time, as Nigeria was still very far from toeing the lines of a cashless economy. As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges. 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. For the first time in his life, Rasaq started seeing undergraduate students and admission seekers, who talked about lectures, examinations, and careers after school. His late father, Khalifah Isyaku Rabiu, was one of Nigeria's foremost industrialists in the 1970s and 1980s.Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. “A lot of companies need to be formalized, so they become investable and provide liquidity option for investors. Our focus for this week’s profile is Tayo Oviosu, founder and CEO of notable payment solutions provider, Pagatech. Abdul Samad is a Nigerian businessman, founder, and chairman of the Nigerian conglomerate BUA. “I was also creative in terms of how I spent the money. He is the focus of Nairametrics Founders Profile this week. He also got to meet with a distant uncle who was a Lecturer at the Obafemi Awolowo University. Nevertheless, provision has also been made for gas supply from a gas company to fire its turbines. BUA OILS: BUA Oil Mills Limited Lagos is situated at No. [13], 2. Then the fabricated chip comes back and it doesn’t work. Though there are now over 200 fintech players, Paga still holds its ground. Tayo Oviosu has now become an angel investor in other startups. Already in SS2 at the age of 14, Razaq was well on his way to becoming a ‘generator man’ as they were called in the community. Abdul Samad Isyaku Rabiu was born on August 4th, 1960 in Kano, Kano State, Nigeria to Isyaku Rabiu, a businessman and Islamic scholar. “We were all indoors hoping and praying that something magical would happen because we had seen other people being killed, and we were conscious of the fact that it could be our last day. 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. [8] This was when his father, Isyaku Rabiu, was being detained by the administration of General Muhammadu Buhari for allegedly not paying rice import duties. READ: Bitfxt raises N5.45 billion from UK firm. “It’s about time”, says the ebullient BUA Group chairman Abdul Samad Rabiu, sitting with Axens chief executive Jean Sentenac during a contract-signing ceremony held in the 16th-century Château de Vert-Mont outside of Paris, France. Abdul Samad Rabiu, a graduate of Economics from Capital University in Columbus, Ohio was instrumental to the successes recorded by his father’s business empire as an Executive Director before establishing BUA International Limited in 1988 solely for trading and importation of rice, edible oil, flour, iron and steel.
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