Details As BUA Boss Abdul Samad Rabiu Emerges 3rd Richest Nigerian

Bamidele Peters

Extraordinary businessman Abdul Samad Rabiu is the 3rd richest individual in Nigeria, societynow.ng can reliably report.

And a report monitored on forbes.com which placed him at number 16 in Africa further confirmed this.

The frontline businessman is the founder and chairman of fastest growing business concern BUA group.

BUA Group is a notable player in the higher economic enhancing industries of Cement, Steel, Sugar, and Agriculture.

Findings revealed the Kano state born business mogul is worth all of $1.6 billion.

And Societynow.ng’s calculation revealed 573 billion to be the 58-year-old business guru’s worth in Naira.

As a matter of fact, the shrewd businessman is comfortably occupying the third position on the list of wealthy individuals in Nigeria with Aliko Dangote – worth $10.3 billion – and Mike Adenuga – worth $9.2 billion taking first and second spots respectively.

His recent move to fuss his Kalambaina cement firm with the publicly traded cement company of northern Nigeria is said to have played a big role in his new status.

According to reports Alhaji Rabiu now owns 79 percent of the listed company.

His other cement firm Obu cement located in Edo State is equally confirmed to be doing very great as it expanded its production line recently.

The businessman determined to take his investment to the world stage is the son of a foremost industrialist – between 1970 and 1980 – late Khalifa Isyaku Rabiu.