How Abdul Samad Rabiu Rose from Kano Trader to Africa’s Second-Richest Man
Abdul Samad Rabiu began trading rice and edible oil in Kano in 1988 after returning from Ohio with an economics degree. When his father faced detention over import duties, he stepped up at just 28 and founded BUA International, importing key commodities and navigating Nigeria’s challenging business climate. The breakthrough came in 1990 with a Delta Steel contract that funded BUA’s expansion into steel billets and rolling mills. Over the next two decades he acquired Nigerian Oil Mills, built major flour mills, broke the sugar refining monopoly, and took control of Northern Nigeria’s largest cement plant. Today, BUA Group is a $2.6 billion conglomerate spanning cement, sugar, rice, pasta, ports, real estate, agriculture, and logistics. Rabiu’s 95.8% stake in BUA Cement alone is valued near $10 billion, pushing his net worth to $19.1 billion—second only to Aliko Dangote. Rabiu credits his success to spotting import-dependent markets, building local plants, and integrating value chains. As BUA moves into oil and gas, his capital-intensive playbook may yet write another chapter in African industrialization.
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