Abdulsamad Rabiu Net Worth
Abdulsamad Rabiu Net Worth: Abdulsamad Rabi is a Nigerian businessman who has a net worth of $700 million. He is the founder of BUA Group, a Nigerian conglomerate with operations in sugar refining, cement production, real estate, steel, port concessions, manufacturing, oil and gas, and shipping. The group also owns the BUA Cement 1, a 200-meter vessel designed for heavy loads.
This is the first floating dock in Nigeria. In addition to the assets in the BUA Group, Rabiu owns US$62 million worth of properties in the UK and US$19 million in South Africa. His properties include a nearly $16 million house in Gloucester Square in London and a $12.6 million penthouse at The One & Only Hotel in Cape Town. Abdul Samad was born in Kano to the family of a prominent businessman named Ishyaku Rabiu. His father made his fortune through trade in the years following Nigeria’s independence. By the mid-1970s, Abdul Samad’s father had become influential, a key figure on the political scene. By 1983, the military coup that led to the arrest of President Shehu Shaqari found that Abdul Samad’s father, Ishayku, was also imprisoned. During this time, Abdulsamad studied for a bachelor’s degree in the United States. He returned home at 24 to find his father’s business in trouble. With little or no business experience, Abdul Samad had to take over the heavy lifting to revive his father’s now-failed business empire. In 1988, he was self-reliant and founded the BUA Group, importing rice, sugar, edible oil and steel bars, and made a fortune ever since. He has worked hard to turn his millions into billions, and attributes a series of radical decisions to the rise of the empire Abdul Samad is building today.
