Nigeria’s billionaire, Abdulsamad Rabiu is a businessman whose diligence, consistency and doggedness built a brand that has become a household name in Nigeria. He founded BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. As his business grows and continues to thrive the billionaire continues to expand his network.
Abdulsamad’s network cuts across his business associates, the Nigerian government and the international community. Let’s take a sneak peek at some of the powerful people in Abdulsamad’s network:
Aliko Dangote and Abdulsamad Rabiu are businessmen whose entities have earned reputations in the industry. They have a relationship as competitors and colleagues. They are both involved in the production of cement, sugar refining and other businesses, and their companies. BUA and Dangote Group have competed in some of these sectors. While it is natural to think that both competitors share a hostile relationship, the duo have maintained a cordial relationship. The Nigerian billionaires have both attended business seminars and meetings together. They have also both received awards for their contributions to national development within and outside the countries. One such notable award is the one awarded by Nigerien President Mohamed Bazoum to them in August 2022. The Nigerien President celebrated the duo for their role in increasing understanding between the two countries.
Isyaku Naziru Rabiu
Isyaku Naziru Rabiu is the first son of Abdulsamad Rabiu, founder of BUA Group, one of Africa’s fastest-expanding manufacturing conglomerates. He and his father have 99.8 per cent ownership in BUA Foods. Reports say Isyaku rose to the level of Commercial Director at the Group’s Flour and Pasta Division, a position he held till November 2021 when he was appointed an executive director at the newly capitalised BUA Foods Plc. He continued managing the Group until he resigned on August 17, 2022. His resignation comes in response to Nigerian Exchange, NGx’s listing rules that no more than two members of the same family may serve on the board of a publicly traded company at the same time.
Known as the Chief Executive Officer of Sujimoto Construction, Lagos, Sijibomi is a close ally of Abdulsamad Rabiu. His group is building the most luxurious real estate project in Banana Island, Nigeria’s most expensive neighbourhood. Sijibomi admires Rabiu for his laudable social investment projects and strategic support extended to people, institutions, and governments. Sijibomi also believes that the billionaire reminds everyone that the most important part of humanity is giving. On the flip side, Samad publicly celebrates all that Sijibomi represents. He once introduced the real estate guru as somebody to watch out for in his generation.
Abdulsamad’s network goes beyond the confines of the Nigerian border. He has a great relationship with the national leadership of France, which Emmanuel Macron oversees. Their relationship is closely associated with the deal signed with Axens, a French energy company, as the technology provider for its greenfield 200,000 bpd Akwa-Ibom refinery and petrochemical plant. Also, Macron who is pleased with Rabiu’s business exploits extended a personal invitation to Rabiu seeking his presence at the Choose France Summit representing business leaders from Nigeria and Africa. Macron also appreciated the billionaire’s commitment to strengthening ties between France and Nigeria.
While it would certainly seem normal to have a close relationship with the president of his home country, Abdulsamad go way back in history. Reports say Rabiu started managing the affairs of his Father’s business, Late Sheikh Isyaka Rabiu when the military regime of General Muhammadu Buhari detained his father for allegedly defaulting in rice import duties payments. However, in recent times, Buhari has applauded the giant strides Rabiu is making in the business world. He has also been awarded for his good works, by President Muhammadu Buhari.
Abdul Samad Rabiu’s journey to becoming one of Africa’s wealthiest magnates is…