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Chairman, BUA Group, Abdulsamad Rabiu Revels at 61
Published
5 years agoon
By
Eric
By Eric Elezuo
What can be said of a man, who has steadily evolved as one of Africa’s biggest philanthropist, in fact, the second in the order of reckoning. He has graciously used his BUA Foundation and the phenomenal Abdul Samad Rabiu Africa Initiative to not only affect lives, but ensured that the people of world, especially his native Nigeria, live in defined comfort. He is Alhaji Abdulsamad Rabiu, the Chairman/Chief Executive Officer, Bua Group, makers of quality cement, sugar among other wonderful household items.
Born on August 4, 1960, in Kano, to one of Nigeria’s foremost industrialists in the 1970s and 1980s, Khalifah Isyaku Rabiu, Abdul Samad Isyaku Rabiu CON is a perfect combination of many things in one.
It was in his native Kano that he kick started his academic pursuit, carousing through elementary education with ease as a gifted child, and obtained his First School Leaving Certificate. He was later admitted into the Federal Government College, Kano, where he had his secondary education, and gradually with honours.
With a combination of fate, brilliance and determination, Abdulsamad was catapulted to Capital University in Columbus, Ohio, where he studiously studied Economics, and acquired his tertiary education before returning to Nigeria, all before his 24th birthday, to oversee his family business. He was that much sort after, and highly brilliant, and considered capable of holding fort for his father, who was being detained by the administration of General Muhammadu Buhari over matters concerning import duties.
In 1988, just after learning the ropes of entrepreneurial excellence, Abdul Samad Rabiu established BUA International Limited, for the sole purpose of commodity trading. The company followed after the footsteps of his father, and imported rice, edible oil, flour, and iron and steel.
In 1990, having exhibited the character worthy of a world class entrepreneur, and the ability to execute classical projects, Rabiu’s BUA was invited by the government, which owned Delta Steel Company to supply its raw materials in exchange for finished products. This provided a much-needed leverage for the young company, and consequently expanded further into steel, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria.
Rabiu’s dexterity showed further a few years later, when the company acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria, and there erupted the company’s and BUA’s influence and care over the people in the provision of affordable edible oil. His passion to see people excel in comfort has continued to make him churn out one great tiding after another, and endearing him in the hearts of the generality of the public.
A man with a vision for tomorrow, Rabiu, in 2005, started two flour-milling plants, in Lagos and in Kano, and by 2008, had broken an eight-year monopoly in the Nigerian sugar industry by commissioning the second-largest sugar refinery in sub-Saharan Africa. This was a feat only a bravest of hearts could wroth. As a result, in 2009 the company went on to acquire a controlling stake in a publicly-listed Cement Company in Northern Nigeria and began to construct a $900 million cement plant in Edo State, completing it in early 2015. Rabiu’s passion for expansion is unequalled.
BUA Group has since concentrated and excelled in manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. This is in addition to being the chairman of the Bank of Industry (BOI).
The Group, in 2019, announced plans to merge its privately owned Obu Cement with the publicly traded Cement Company of Northern Nigeria Plc (CCNN), to create Nigeria’s second largest cement producer thereby consolidating the grip on the cement market and breaking its monopolistic status.
It is worthy of note that Cement Company of Northern Nigeria PLC in which Rabiu owned more than 97% was producing two million metric tons of cement per annum (Mtpa) while Obu Cement has an annual production capacity of 6Mtpa. The move is in line with the company’s resolve to deepen the Nigerian capital markets and enhance the growth of the cement industry.
Rabiu’s expansion strides cannot be complete without a mention of his extraordinary philanthropic gestures.
In April 2020, he made a whopping donation towards the fight to contain the spread of the Coronavirus pandemic presently ravaging the country.
In a letter dated April 24, 2020, he personally signed and addressed to The Presidential Task Force on COVID-19, the billionaire businessman, congratulated the duo of the Task Force and the Nigeria Centre for Disease Control (NCDC) for doing a good job while observing that much as so much has been done, there was still need to do a lot more, as the disease continued to make inroads into many parts of the country, especially Lagos and Kano states.
“I view with deep concern, the increased rate of spread of the Coronavirus, especially in Kano and Lagos states despite concerted collective efforts to curb the spread and effects of the virus in Nigeria,” he said.
With sincere reference to ‘what is going on, especially in Kano at the moment’ the philanthropist, who had earlier donated N1 billion to the private sector led CACOVID and other states, announced the release of another N3.3 billion ‘grant to the working group made up of the Presidential Task Force, NCDC and other stakeholders in equipping two existing permanent facilities in Kano and Lagos states’.

He said: “To this end, I am immediately committing and making available – through the Bua Foundation two grants of Two Billion Naira for the Kano-based intervention and One Billion Naira for Lagos State being the two epicentres of this virus in Nigeria.”
Rabiu also informed that “a sum of N300 million will also be made available immediately in cash to the Presidential Task Force to assist with logistical and operational activities of the taskforce. This grant is in addition to BUA’s earlier contributions to the private sector led CA-COVID coalition and donations to other states.”
Giving directive on how the funds will be spent, the BUA Foundation Chairman hinted that the “working Group will be expected to use resources at its disposal to ensure these facilities – to be determined by the Working Group – are fully equipped in the shortest possible time.”
He further revealed his trust in the working group to judiciously use the grant for the purposes meant, saying “I believe this will effectively help to expand the scope of interventions, ongoing research as well support already stretched medical cities dedicated to this fight.”

Rabiu’s BUA had in March through a confirmed funds transfer to the COVID-19 relief fund account with the Central Bank of Nigeria redeemed its pledge of N1billion ($2.6m) to the fight against COVID-19. In addition, the company also announced another donation of N300million to Sokoto, Edo and Ogun States to assist in galvanizing a coordinated response and adequate preparedness in the fight against the COVID-19 pandemic in this states. The donations to Sokoto and Edo States were on behalf of its Cement subsidiary, BUA Cement which has its major operations in those states whilst Ogun was also selected as a beneficiary due to its proximity to Lagos which had been the epicenter of the virus in Nigeria.
In total, Rabiu and his group have so far donated N4.6 billion to the fight against the dreaded pandemic, making them the single highest donor as at date.
In 2021, Rabiu’s focus bestowed on him the grace of becoming the biggest gainer in shares. According to Forbes, which listed the billionaire among the four top billionaires in Africa for the year, “shares of his BUA Cement PLC, which listed on the Nigeria Stock Exchange in January 2020, doubled in value in the past year. That pushed Rabiu’s fortune up by an extraordinary 77%, to $5.5 billion. One thing to note: Rabiu and his son together own about 97% of the company, giving the company a tiny public float. The Nigerian Stock Exchange requires that either 20% or more of a company’s shares to be floated to the public, or that the floated shares are worth at least 20 billion naira — about $50 million — a paltry sum, to be sure. A spokesman for the Nigerian Stock Exchange told Forbes that BUA Cement meets the second requirement. (Forbes discounts the value of stakes when the public float of a company is less than 5%.)”
Rabiu has constantly used his BUA Foundation for his philanthropic activities. Some of them include the construction of a 7,000-square-meter paediatric ward at the Aminu Kano Teaching Hospital and the construction of the Centre for Islamic Studies at Bayero University Kano amongst several others.
He is known to have signed several major deals with French companies in recent times, from Axens as technical partner to his new refinery, to a 300tn plasterboard factory deal with French construction giant St Gobain. He followed it up with listing a segment of his business empire on the Lagos Stock Exchange.
In June 2021 therefore, when French President Emmanuel Macron inaugurated the France-Nigeria Business Council, a private sector initiative to enhance business relations between the two countries, Abdul Samad Rabiu, was appointed its inaugural President. He had earlier been appointed Chairman of the France Nigeria Investment Club. These appointments drew encomiums from high places including President Muhammadu Buhari.
Practically every woman’s dream, Abdul Samad is married to his beautiful wife, and they are blessed with children, among whom are Isyaku Rabiu, Junaid Rabiu, Rukkayah Rania Rabiu and Khadijah Rabiu. He has 42 siblings including Nafiu Rabiu and Rabiu Rabiu, the chairman of IRS Airlines.
Rabiu’s abilities are beyond comparison. He is a force to reckon with in the field of enterprise and human capacity building. He is quite a gift to Nigeria, and the world. We wish you a hearty 61st birthday. Congratulations!
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Headline
Iran Has Given Up on Nuclear Weapons, Trump Claims
Published
2 days agoon
March 25, 2026By
Eric
US President, Donald Trump, said on Tuesday that Iran gave him a “very big present” related to the Strait of Hormuz, boosting his confidence that he is talking to the right people in Tehran to end the war.
The cryptic announcement came a day after Trump unexpectedly postponed threatened attacks on Iran’s power plants and said Washington is in negotiations with unspecified figures in Iran.
Tehran has, however, denied being part of any talks to end the war, which is now in its fourth week and has disrupted global oil supplies passing through the strategic Hormuz Strait.
“They did something yesterday that was amazing actually. They gave us a present and the present arrived today. And it was a very big present worth a tremendous amount of money,” Trump told reporters in the Oval Office.
“That meant one thing to me — we’re dealing with the right people.”
Speaking at the swearing-in ceremony for new US Homeland Security Secretary Markwayne Mullin, Trump said the “gift” was “very significant”, adding that it was “oil and gas-related.”
Asked if it was related to his demand that Iran reopen the Strait of Hormuz to oil traffic, Trump replied: “Yeah, it was related to the flow and to the strait.”
The US president added that the “present” was not related to Iran’s nuclear program, but repeated his claim that the Iranian side “agreed they will never have a nuclear weapon.”
Trump has not yet revealed who the United States is negotiating with in Tehran, saying only on Monday as he postponed a threat to attack Iran’s energy sites by five days that it is a “top person.”
“We’re actually talking to the right people, and they want to make a deal so badly,” Trump said.
Former Iranian supreme leader Ali Khamenei was killed on the first day of the joint Israeli-US air campaign, and successor Mojtaba Khamenei has not been seen in public.
But Trump said that the killing of Khamenei senior and a host of other top Iranian officials meant “we have really regime change. The leaders are all very different with the ones that we started off with.”
US Vice President, JD Vance, Secretary of State Marco Rubio, global envoy Steve Witkoff and Trump’s son-in-law Jared Kushner were all involved in the Iranian talks, Trump said.
But he did not confirm reports that Witkoff and Kushner were headed to Pakistan for talks with Iran, with Vance possibly to follow afterward if the negotiations appeared serious.
Pakistani Prime Minister Shehbaz Sharif offered on Tuesday to act as a mediator to end the conflict.
He said he had spoken with Iranian President Masoud Pezeshkian, promising Islamabad’s help to bring peace to the region.
Trump meanwhile joked that Secretary of Defense Pete Hegseth “didn’t want it to be settled” because he wanted to keep striking Iranian targets.
“We see ourselves as part of this negotiation as well. We negotiate with bombs,” Hegseth said when he was called to the podium by Trump.
Agency Report
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Dangote Warns of Dire Consequences for Nigeria If Iran War Continues
Published
3 days agoon
March 24, 2026By
Eric
Nigeria’s foremost industrialist, Alhaji Aliko Dangote, has warned that Middle-East tensions driving global oil volatility could have far-reaching consequences for Nigeria and African economies.
Dangote spoke on Monday in Lagos after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu.
He said the visit was to extend Sallah greetings, reconnect with the president after some time, and reaffirm respect and continued support for the administration’s policies.
Dangote noted Nigeria had no direct role in the crisis but would still feel the impact because of deep global economic interdependence.
“We are part of a global village, and unfortunately, developments like this will affect us even if we are not directly involved,” he said.
He warned that prolonged tensions could trigger higher fuel prices, rising transport costs, inflationary pressures, and widespread hardship across African economies.
“If the situation does not de-escalate, we will end up paying a heavy price, especially given existing economic challenges,” Dangote said.
He explained that governments could face mounting fiscal strain as subsidies rise and revenues fluctuate under unstable global oil market conditions.
Dangote added that Africa’s rising debt burden could worsen under prolonged instability, further limiting fiscal space and weakening economic resilience.
“Africa is already grappling with debt, and additional shocks will only compound hardship for governments and the people,” he said.
He said escalating energy costs would disrupt nearly every sector, including small enterprises, manufacturing chains, logistics operations and household consumption patterns.
“Energy affects everything. From small businesses like barbers to industries running generators, everyone will feel the impact if costs continue to rise,” he said.
Dangote noted that some countries are already adopting coping strategies such as reduced workdays, energy rationing and remote working arrangements.
He said such measures, while necessary, could reduce productivity, slow economic output and affect livelihoods, particularly among vulnerable populations.
Dangote urged global leaders to prioritise de-escalation, stressing that many Africans rely on daily earnings and remain highly exposed to economic shocks.
“In Africa, in Nigeria, many people depend on daily earnings. If they don’t work, they don’t eat. So we must pray this situation comes down quickly,” he said.
On Tinubu’s recent visit to the United Kingdom, Dangote said the trip had opened new economic opportunities and strengthened Nigeria’s investment outlook.
“I believe the visit has opened many doors. Diplomacy without economic outcomes is incomplete, and this has created opportunities for Nigeria,” he said.
He said agreements reached during the visit, especially in infrastructure and financing, signaled growing international confidence in Nigeria’s reform agenda.
“It is not just about the money committed, but the confidence it shows in Nigeria and the reforms being implemented,” he said.
Dangote said planned investments in critical sectors such as ports would significantly improve trade efficiency and support medium-term economic expansion.
“These investments will help improve our infrastructure, especially in key areas like ports, and complement ongoing government efforts,” Dangote said.
He expressed optimism that other countries, including Germany, would follow with investments as confidence in Nigeria’s economy strengthens.
“Once confidence is established, other countries will come in. It is a signal that Nigeria is ready for business,” he said.
Dangote said the agreements would enable Nigerian private sector players to access international financing and technical support for large-scale projects.
“For Nigerian investors, this shows we can approach these agencies to access funding. It means they are now open to supporting our projects,” Dangote said.
He described the development as a breakthrough, noting that such credit facilities had historically remained underutilised by Nigerian businesses.
“We have not really utilised these resources before, but now there is clear capacity and willingness to fund viable Nigerian projects,” he said.
Dangote reaffirmed his support for the administration, expressing confidence that reforms, partnerships and investor confidence would drive sustainable economic growth in Nigeria.
NAN
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By Eric Elezuo
The present predicament of the immediate past governor of Kaduna State, Mallam Nasir El-Rufai, has created diverse camps of supportive, non-supportive and completely indifferent reactions.
The former governor, who completed his two terms in office on May 29, 2023, has remained in the news ever since for the wrong reasons. First, falling out with his supposed godson, the incumbent Governor of Kaduna State, Uba Sani, who has accused him of embezzlement of public funds while in office, using the state house of Assembly.
Secondly, he was unceremoniously dropped from the list of favored applicants for ministerial positions after the Senate, in a brazen act, rejected his nomination and failed to confirm him after undergoing ministerial screening. El-Rufai has neither forgiven the Senate nor President Bola Tinubu for allowing that to happen.
El-Rufai, whi was once the Minister of the Federal Capital Territory (FCT), had consequently turned himself into a vocal critic of the government, offering explanations why the present administration must not be allowed to return to power in 2027.
His most recent outburst of accusing the NSA, Mallam Nuru Ribadu, of orchestrating his arrest on arrival to Nigeria from Egypt, had set the stage for his present predicament. The former governor had in a live interview on Arise Television, claimed to have tapping into the NSA’s communications line, thereby becoming privy to the discussions relating to the order of his arrest. He was therefore, invited to explain the whys and hows of his bugging a high level security line. El-Rufai has not come out of detention ever since. His journey has proceeded from the gaurdroom of the Economic and Financial Crimes Commission (EFCC) to the Department of State Security (DSS).
From all indications, these are not the best of times for the immediate past Governor. And stakeholders have insisted that it’s only a passionate presidential pardon that could extricate the former FCT minister from all entanglements.
Meanwhile, a cross-section of the newest opposition block, the African Democratic Congress (ADC) has insisted that the predicaments and persecutions El-Rufai found himself, and is facing at the moment are orchestrations of the ruling All Progressives Congress (APC) by President Tinubu just as the ruling party has maintained that the former governor is facing the music of his actions and inaction while in office between 2015 and 2023.
Recall that in August 2023, the Senate set the tone for what awaits El-Rufai in the Tinubu administration, when the group, against all expectations rejected his nomination as a minister, confirming 45 others. He was one of the nine former governors nominated for ministerial positions by the Tinubu administration.
The Senate refused to confirm the nomination of Nasir El-Rufai, as well as two other nominees including Stella Okotete (Delta) and Sani Danladi (Taraba).
The President of the Senate, Senator Godswill Akpabio, had informed that the three nominees not confirmed would be subjected to further security checks even as he advise them to take their matter to Mr President, stressing that the non-conformation status stemmed from ‘security reasons’.
It must be recalled also that during El-Rufai’s screening on the floor of the Senate, Senator Karimi Sunday from Kogi West Senatorial District raised a “very strong petition” against the ex-Kaduna governor that bothered on insecurity, unity, and national cohesion.
Sunday, who praised El-Rufai’s performance as Kaduna governor and Minister of the Federal Capital Territory (FCT) some 20 years ago, said, “but I have a very strong petition against you that bothers on security, unity and cohesiveness of the Nigerian nation and I think that petition has to be considered along this screening exercise”.
Much as there was a loud resistance from the Senators against the subject, the Senate President insisted on allowing the Kogi senator’s view to stand, citing reception of other petitions against the former governor.
“Distinguished colleagues, perhaps I should inform you that I have received petitions from many other people in respect of other nominees but this is not where we are to deal with petitions. Our job here is to screen and of course, we can refer petitions to where petitions would be dealt with.
“These are the nominees of Mr President. If it is something that is a formal petition before the Senate, we will look at it formally but there are certain petitions that we have to refer to the Presidency or security agencies to look at and that has nothing to do with us.
“I think by the time we are going with the issue of confirmation and approval, we will so advise. So, I will want to plead with my brother (El-Rufai) to take a bow. So, don’t bother about (addressing the petition). Thank you.”
That was the beginning of the many Travails that trailed, and continued to trail the former Kaduna governor. His case was never revisited. His preferred, and speculated ministerial portfolio, Power, was handed to a legal practitioner, marking the end of the presidential consideration. That was when El-Rufai and Tinubu’s relationship entered the stage of ‘no love lost’
Shortly afterwards in June 2024, the Kaduna State House of Assembly’s ad hoc committee had earlier submitted its investigative report on the El-Rufai administration’s financial dealings, loans, and contracts to the House
The chairman of the ad hoc committee, Henry Zacharia, said the loans secured during El-Rufai’s tenure were largely misused, and in some instances, proper procedures were not followed in obtaining them.
The Assembly Speaker, Yusuf Liman, alleged that El-Rufai’s administration misappropriated N423 billion, resulting in significant financial burdens for the state.
Many Nigerians, though had their misgivings about the 8-years stewardship of El-Rufai, dismissed the charges, claiming it was an aftermath of his altercations with the president. Some assumed it was a witchhunt perpetrated by an administration that has issues with the ex-governor.
In response however, El-Rufai sued the Kaduna State House of Assembly over claims that his administration embezzled N432 billion and left the state with significant debt obligations.
He filed a fundamental rights enforcement case against the Kaduna State House of Assembly at the Federal High Court in Kaduna.
El-Rufai, who appeared in person to file the lawsuit, alleged that the committee denied him a fair hearing, according to a statement by the former governor’s media aide, Muyiwa Adekeye, posted on his X handle.
“El-Rufai also asked the court to declare that by the provisions of Section 36 of the Constitution of the Federal Republic of Nigeria, 1999, the Report of the Ad-Hoc Committee on Investigation of Loans, Financial Transactions, Contractual Liabilities and Other Related Matters of the Government of Kaduna State from 29 May 2015 to 29 May 2023, as ratified by the Kaduna State House of Assembly, is unconstitutional and therefore null and void for violating his right to fair hearing as guaranteed under the Constitution.”
Though questions as to whether the persecutions and legal attacks on El-Rufai were products of his vituperations on the presidency for canceling his nomination as a minister, the former governor had continued to leverage on any interview to speak of the incompetence of the administration, while attempting to rally Nigerians to vote out the government come 2027. El-Rufai had also joined the now major opposition party towards wrestling power from Tinubu and his APC government.
On February 12, 2026, El-Rufai was accosted by security operatives, who attempted to arrest him upon his arrival from Cairo at the Nnamdi Azikiwe International Airport in Abuja. His passport was seized in the scuffle that ensued, even as he reportedly declined to accompany operatives without the presentation of a warrant.
To make matters worse, El-Rufai, while appearing on a live interview boasted of intercepting a phone conversation, where the NSA Nuhu Ribadu, had given the order for his arrest on arrival to Nigeria.
El-Rufai had alleged that he and some others listen to the telephone conversations of Mr Ribadu after an individual tapped the NSA’s phone.
He defended the legality of the phone interception, acknowledging that it is technically illegal but claiming, “The government does it all the time. They listen to our calls without a court order. But someone tapped his phone and told us that he gave the order.”
But like the government has been waiting for the slip, they capitalized on the revelation to initiate another round of investigation against the former governor
In His reaction after the interview on Arise TV, Presidential Spokesperson, Bayo Onanuga, raised concerns about the implications of the claim for national security.
“El-Rufai has confessed to wire-tapping Nigeria’s NSA on TV. Does it mean that he and his collaborators have wire-tapping facilities?” Onanuga queried.
He added that the issue should not be ignored, stressing the need for accountability.
“This should be thoroughly investigated and punishment meted out. El-Rufai is not too big to face the wrath of the law,” the presidential spokesperson stated.
However, between February 16 and 18, El-Rufai was detained by the Economic and Financial Crimes Commission over the allegations of misappropriating ₦432 billion during his tenure as governor of Kaduna State.
The government made good its threat as the DSS arrested the former governor, and filed cybercrimes charge before the Federal High Court in Abuja against him over the phone-tapping allegation. The case was filed as FHC/ABJ/CR/99/2026.
The prosecution said he admitted to intercepting the NSA’s communications, failed to report others who conducted unlawful interceptions, and compromised public safety and national security by using technical systems to tap the NSA’s phone.
The alleged acts were said to violate provisions of the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024, and the Nigerian Communications Act, 2003. No arraignment date has been fixed, and Mr El-Rufai has not publicly responded to the charges.
“The initial remand order was granted, allowing the Commission to detain the suspect for 14 days to investigate allegations of money laundering and abuse of office. Upon the expiration of the initial order, the Commission applied for a 14-day extension to complete its investigations, which the court acceded to on 5th March, 2026.”
It further noted that an earlier attempt by El-Rufai’s counsel to nullify the remand order had already failed.
“Counsel to El-Rufai attempted to set aside the remand order issued on 19th February, 2026, but the application was dismissed on 9th March, 2026.”
The ICPC maintained that the former governor remains in custody in line with legal provisions.
“Mallam El-Rufai remains in the lawful custody of the ICPC under the remand order dated 5th March, 2026. The Commission is strictly following the court mandated timeline, including the requirement for a progress report.”
It emphasised that all actions taken so far align with the law.
“The ICPC conducts its duties with the highest professionalism and respect for the rule of law. The remand of Mr El-Rufai has been authorised by a court of law in accordance with the Administration of Criminal Justice Act (ACJA) 2015.”
The Commission also reiterated its stance against media interference in legal processes.
“Furthermore, the ICPC remains firm in upholding its longstanding policy of avoiding media trials. We believe that legal disputes should be settled in the courtroom, not on newspaper pages and social media platforms. The Commission’s leadership remains steadfast and undeterred in confronting any and all challenges in the course of the current investigation.”
It urged the public to rely on verified information.
“We urge the public to avoid spreading unverified information and to rely on official updates from the Commission.”
It will still be till end of March before the fate of El-Rufai is known in these fast-paced travails with the government-controlled security agencies.
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