Abdulsamad Isyaku Rabiu CON (born 4 August 1960, Kano Nigeria) is a Nigerian businessman. His father, late 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 with interests in manufacturing, infrastructure and agriculture with a revenue in excess of $2.5 billion. He is also the chairman of Nigerian Bank of Industry.
Abdulsamad Rabiu was born on the 4th of August, 1960 to the family of Khalifah Isyaku Rabiu in Kano State, Nigeria. Abdulsamad’s family was already wealthy even before his birth, his father was one of Nigeria’s top industrialists in Northern Nigeria in the 1970’s and 1980’s after the Nigerian civil war. His family was polygamous- his father had four wives and a lot of children.
Abdulsammad’s other well known siblings are Nafiu Rabiu who is a high-flying businessman and Rabiu Rabiu who is also successful in his own field and has interests in the aviation sector.
Abdulsammad Rabiu received his primary and secondary education in Kano and then proceeded to Ohio for his tertiary education. He attended Capital University in Columbus, Ohio where he obtained a bachelors degree in.
Abdulsamad Rabiu’s father Khalifah Isyaku Rabiu built his wealth from trading commodities and beverages, he went on to go into real estate by acquiring abandoned ruined houses, refurbishing them and putting them back on the market for profit. He also set up his own textile industry and even obtained a license to trade sewing machines in the North and even explored the oil and construction sector. All of these ventures show how much of an entrepreneur Abdulsammad’s father was and thankfully he passed on this inclination and interest to Abdulsammad.
However Abdulsamad’s father was arrested by the administration of General Muhammadu Buhari in 1984 on charges of rice hoarding and fortunately that was when Abdulsamad had just completed his education in Ohio and returned to Nigeria. Although Abdulsamad had other brothers probably older than him, it was him who stepped in to replace his detained father and take over the reins of the family business at the young age of 24 and he performed excellently, he successfully steered the business and put it back on the right track.
Although Abdulsamad was born and raised in Kano he did not start up his own businesses there, he went on to establish his own business in Lagos. IN 1988 he founded the BUA International Limited basically to trade commodities , pretty much the same way his father before him had started. His company started out with importing rice, edible oil, flour and steel. He eventually stretched out his importation capacity and added steel, billets and iron ore to his list. He also supplied multiple rolling mills.
In September 2015, BUA signed a $600 million deal with Sinoma International Engineering, a Chinese cement equipment and engineering service provider, to construct a second production line at its flagship Obu cement plant, located in Edo State in the western part of Nigeria. Rabiu’s aim is to double capacity and expand BUA’s current 10% market share in Nigerian cement.
In January 2016, BUA Group agreed to sell its flour milling and pasta making businesses to Olam Group of Singapore for $275 million. Rabiu, the son of a businessman, inherited land from his father. He set up his own business in 1988, importing rice, sugar and edible oils as well as iron and steel rods.
Abdulsamad Rabiu is worth $1.1 billion as rated by Forbes in March, 2016.
Abdul Samad Rabiu uses BUA Foundation for his philanthropic activities. These include the construction of a 7,000 Square meter paediatric ward at the Aminu Kano Teaching Hospital as well as the construction of the Centre for Islamic Studies at the Bayero University Kano amongst several others.