Abdulsamad Rabiu has a net worth of $5.9 billion. He founded BUA Group. This is a Nigerian conglomerate with interests in real estate, cement and sugar refinery.
In Jan 2020, Abdulsamad Rabiu merged his Obu Cement Company with Cement Co located in Northern Nigeria which he controlled. The new company was named BUA Cement Plc which trades shares on the Nigerian stock exchange of which the billionaire owns 98.2 percent.
Abdulsamad also owns 95% of BUA Foods. The billionaire is a son of a businessman. He inherited land from his father. In 1988, he established his first business which was importing chemicals, iron and steel.
Abdulsamad set up Abdulsamad Rabiu Initiative, a foundation which supports social development education and health projects across Africa.
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BUA Group has over 70,000 hectares of land under sugarcane production. It also produces 11 metric tones of cement.
Real Estate Investments
Abdulsamad Rabiu has invested in real estate such as BUA Hills, BUA Court, BUA Business Park, BUA Place and BUA Towers.
BUA Group has port operations, liquefied natural gas plant, sugar refinery, 20,000 hectare sugar plantation in Lafiagi, two ships such as MV Bundu, cement production, steel, iron ore mining, limestone and coal.
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