Many books have been written about making money. Many institutions teach the science of utilizing scare resources to create value and attract money. Still, no one human can claim to have mastered money. Well, some may be able to make that claim but it will hold little water if any and Life will find a way to force feed such a person humble pie. What a wise person can do is to look at the lives of some of the world’s most successful people, learn poignant lessons therein, apply those lessons and hope that the Almighty will favour their efforts with good success. There are seasons of relative obscurity and seasons where success comes and announces one into the consciousness of the world. Being able to manage these seasons and everything else in between is what separates the rich from those who are wealthy beyond their billions.
Nigeria is blessed to have some of its sons among the richest men in the world. You probably know or are familiar with the names Aliko Dangote, Femi Otedola and Mike Adenuga. Do you know Abdul Samad Rabiu, ranked 3rd richest Nigerian and 8th richest African by Forbes in its 2019 rich list?
Abdul Samad Rabiu is a business mogul with thriving interests in cement, sugar, rice, edible oils, logistics, agriculture, fertilizer production, steel, and real estate. He is the founder and Chairman of the BUA Group and to give you an idea of how understated yet profoundly impactful his enterprises are, do consider that his company is responsible for over 35% of the total cement produced in Nigeria. He is also Chairman of the Bank of Industry and in 2011 was awarded the high national honour of Commander of the Order of the Niger (CON) for his undeniably great contributions to the growth of Nigeria’s economy. In 2017, his company, BUA Group was listed among the top 50 companies to work with in Nigeria and that is testament to the man’s peculiar leadership and business acumen.
His list of accolades and awards is long and impressive but some are quite outstanding. For instance, he was named African Industrialist of the Year in 2016 and awarded the Silverbird Extraordinary Business Achievement Award in 2017. Unlike some awards that are “purchased” and which lack substance and credibility, these notable ones from among the several that the BUA Group Chairman have been given are well deserved and are certainly not a product of financial inducement. What he does do with his money though is plough it into the business strategically, embracing technology and combining the training he acquired while schooling at the Capital University in Ohio, U.S.A, the uncanny street smartness and native intelligence from growing up in Kano, Nigeria and being the son of a father who was himself very successful in business, the late Khalifah Isyaku Rabiu.
When it comes to putting his money in the right places, Abdul Samad Rabiu is arguably one of the smartest, and even the most audacious at it. At a time when there was massive capital flight from the north of Nigeria due to lingering security challenges, he audaciously sited a $350 million cement plant in Sokoto State for his company, Kalambaina Cement and till date it remains the largest single private sector-led investment in North West Nigeria. The BUA rice mill in Kano State is the biggest rice mill in Nigeria. His BUA Group is the only company with a sugar refinery outside of Lagos, Nigeria. Situated in Port Harcourt, it is the second largest sugar refinery in the whole of sub-Saharan Africa and one of the most technologically advanced. He has a $300 million sugar project in Kwara State. It sits on 20,000 hectares and is part of the Nigerian Government’s Backward Integration Policy for the Sugar Industry. He built a $1 billion cement manufacturing complex in Okpella, Edo State. One of his subsidiary companies, BUA Ports and Terminals Limited holds the concession for the Port Harcourt Terminal “B” and with the recent decision by the Nigerian Ports Authority to send more ships and cargo to ports other than the overburdened Lagos ports, Abdul Samad Rabiu is in prime position to reap where he has sowed.
He had been on the Forbes list of the world’s richest people before but dropped off at some point. Unperturbed yet very focused on building businesses that would continue to touch the lives of millions of Nigerians, Abdul Samad Rabiu is back in the global “billionaires’ club”. The power moves he is making with his businesses are likely going to boost him even higher in the rankings but those privileged to know him attest to how he is more concerned about helping people rise above poverty and in helping the less privileged. Through the BUA Foundation, he constructed a massive paediatric ward at the Aminu Kano Teaching Hospital and he is in many ways a hand of hope and beacon of light to many around him.
Billionaire boys club or not, Abdul Samad Rabiu is clearly rich beyond his billions.
Culled From Maiden Edition Of TEJ