Abdulsamad Rabiu is a Nigerian billionaire, an entrepreneur, and a philanthropist. He is the founder and Chief Executive Officer of BUA, a Nigerian conglomerate with an interest in agriculture, infrastructure, manufacturing, logistics, and port operations. Abdulsamad Rabiu is also the Chairman of the Nigerian Bank of Industry.
Abdulsamad Rabiu was born into a wealthy family on the 4th of August, 1960 in Kano State. His father, late Khalifah Isyaku Rabiu was one of Nigeria’s foremost industrialist in the northern states of Nigeria in the 1970’s and 1980’s. Late Khalifah Isyaku Rabiu was a serial entrepreneur who built his wealth majorly from commodity trading. It will be right to say that Abdulsamad Rabiu got his entrepreneurial skills from his late father, who was a skilful merchant.
Abdulsamad Rabiu had his early education in Kano state before proceeding to United States for his university degree. He has a Bachelor’s degree in Economics from Capital University in Columbus, Ohio, USA.
He is married with children; the most popular of his children is Khadija Rabiu. Abdulsamad has many siblings including Nafiu Rabiu, a prominent businessman, and Rabiu Rabiu, the Chairman of IRS Airlines.
Young Abdulsamad Rabiu was saddled with the responsibility of running the father’s business at a young age of 24 when he returned from the United States after his studies. At the time his father was detained by the administration of General Muhammed Buhari on allegations of duty aversion on rice imports. Even though young Adbulsamad did not have much business experience, he was able to stir the company around for good in the absence of his father.
That responsibility gave Adbulsamad real business insights which he used in setting up his own company in 1988. BUA International Limited which was started in 1988 has grown into a conglomerate.
Abdulsamad Rabiu established BUA International Limited basically for importation of rice, edible oil, iron and steel.
A breakthrough came for BAU International in 1990 when they struck a deal with the government owned Delta Steel Company. The deal was for BUA International to supply the company with raw material for production. In return, BAU International was paid with finished products. It was indeed a windfall for the young company.
After many years, under Abdulsamad Rabiu leadership, the trading company evolved into BUA Group. BUA Group is a diversified conglomerate with subsidiaries in cement making, sugar refining, oil milling, real estate, and port and terminals. They even diversified further into billets, steel, iron ore importation, and supplying multiple rolling mills in the country.