Home LifeStyle Abdulsamad Rabiu emerges Nigeria’s 3rd Richest Man

Abdulsamad Rabiu emerges Nigeria’s 3rd Richest Man

The industrialist was ranked by Forbes as one of the richest men in the world in 2016 with a net worth of $1.1 billion. He was ranked as the 23rd richest person on Africa’s 50 Richest list in 2015.

In 2019, Rabiu returned to the billionaires’ club with a net worth of $1.6 billion. He is the 16th richest person in Africa and third in Nigeria.

Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate.

In December 2018, Rabiu merged his privately-owned Kalambaina Cement company with listed firm Cement Corporate of Northern Nigeria, which he controlled. His BUA Group also owns Obu Cement, which expanded its production with a new line in 2018.

Rabiu, the son of a businessman, inherited land from his father. He set up his own business in 1988 importing iron, steel and chemicals.

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