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.