Abdul Samad Rabiu’s rise to prominence has been characterised by a relentless pursuit of excellence and a knack for figuring out profitable opportunities in established and emerging sectors.
With a various portfolio that cuts all the highest way thru cement, sugar, proper estate, oil and gasoline, his entrepreneurial droop has been vital.
Because the founder and chairman of BUA Neighborhood, Rabiu has aged strategic investments and luminous trade systems to remodel his conglomerate accurate into a force to be reckoned with. With a networth of $5.54 billion, Rabiu’s industries generate tremendous income and synergistically complement one one other.
This article examines the contributing industries contributing to Abdul Samad Rabiu’s staggering $5.54 billion catch value. Let’s originate.
BUA Cement Plc
Rabiu’s networth has been impacted by the performance of BUA Cement Plc, one of his publicly listed companies. As a cement producer, BUA Cement specializes in sustainable trade practices providing products that meet essentially the most appealing standards and distinctive financial performance.
BUA Cement used to be formed from a merger between CCNN Plc and Obu Cement Firm Plc (beforehand Obu Cement Firm Shrimp). Rabiu’s agency boasts a mixed put in skill of 11mmtpa (Obu plant, 6mmtpa and Kalambaina plant, 5mmtpa). It for the time being ranks because the 2nd-most appealing producer of cement in Nigeria.
Since his firm’s shares had been listed on the Nigerian Alternate, Rabiu’s catch value has step by step elevated. Here’s evident in the graceful dividend payout of $198 million from his shareholding in BUA Cement Plc. Experiences utter the income from bagged cement products accounted for Ninety nine.46 % of the total income carried out by the firm all thru the duration under income.
BUA Meals Plc
BUA Meals Plc reported spectacular financial declare in 2022 attributable to elevated income from its various product portfolio. This success contributed to a steal in Rabiu’s networth owing to his majority stake in the agency. BUA Meals turned a publicly traded firm in 2022. It additionally as of late rolled a multimillion-greenback payout to shareholders.
Experiences utter Rabiu bought $162 million from his stake in the firm. The payout comes after BUA Meals released its 2022 prominent financial results.
Per the reports, BUA Meals’ income surged from $151.55 million in 2021 to $198.4 million on the terminate of its 2022 fiscal three hundred and sixty five days. BUA Meals which processes, manufactures, and distributes food variety operates in five divisions, collectively with Sugar, Flour, Pasta, Rice, and Suitable for eating Oils.
BUA Iron & Steel Ltd
Rabiu’s networth additionally comes from his subsidiary BUA Iron &Steel Ltd. With plans to attach a 1 million tonnes/annum reveal-of-artwork steel plant utilizing regionally sourced iron ore, natural gasoline and limestone, BUA Neighborhood secured an exploration license for Iron Ore in Kogi Yelp, Central Nigeria.
Rabiu’s Neighborhood additionally began the route of of making a fully integrated steel plant in Kogi Yelp, Nigeria. Upon completion, BUA Steel Advanced would perchance be the handiest steel mill in West Africa that produces from iron ore to Steel.
BUA Ports & Terminals
BUA Ports holds concession of Terminal ‘B’ of the Nigerian Ports Authority (Rivers Port), in Rivers Yelp, Nigeria. The Port operates with smartly-trained personnel, competitive tariffs and virtually unrivalled buyer carrier.
Reopened in 2020 after the Nigerian Ports Authority (NPA) shut down its operations, the port additionally generates income that contributes to Rabiu’s networth.
BUA Staunch estate
The Nigeria trade mogul additionally derives his wealth from the neighborhood’s proper estate portfolio. The portfolio entails a lot of residential and commercial constructions. Some of that are BUA Hills, Abuja, BUA Courtroom, Abuja, BUA Industrial Park, Abuja, BUA Towers, Lagos, The BUA Assign, Lagos, etc.