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Chairman, BUA Group, Abdulsamad Rabiu Revels at 61
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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UBA Foundation Kicks Off Festive Season with Spectacular Garden Light-Up
The United Bank for Africa (UBA), through its Corporate Social Responsibility arm, the UBA Foundation, held its annual Garden Light-Up ceremony on Monday at its head office in Lagos.
The event marked the start of the festive season with a spectacular display of lights, fireworks, and music, bringing together staff, customers, and well-wishers in a celebration of unity and gratitude.
The Garden Light-Up, a cherished tradition, reflects UBA’s commitment to spreading joy and fostering a sense of community. Speaking at the event, UBA Group Managing Director/CEO Oliver Alawuba highlighted the bank’s dedication to creating memorable experiences and expressed appreciation for the efforts of staff and customers during a challenging year.
“As we approach Christmas, a time of love, we remember the spirit of giving and community,” Alawuba said. “This ceremony symbolizes hope for the future and the goodness it brings into people’s lives. I encourage everyone to spread kindness and light as we celebrate together.”
The ceremony also marked UBA’s 75th anniversary, with Alawuba emphasizing the bank’s commitment to building a lasting heritage. Guests enjoyed Christmas carols performed by the UBA Customer Fulfilment Centre choir and a guided tour of the UBA Foundation gardens at Lagos Marina.
In addition to the festivities, the UBA Foundation reaffirmed its commitment to sustainable development through initiatives that focus on education, environmental conservation, economic empowerment, and community welfare. As part of its corporate social responsibility, the Foundation will provide meals to tens of thousands of people across Africa during the holiday season.
The event ended with fireworks, leaving attendees inspired and excited for the season of giving.
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My Economic Policies Harsh, But Yielding Results, Tinubu Insists
President Bola Tinubu has, for the umpteenth time, insisted that the economic policies that he initiated on assumption of office are now yielding the desired results.
Tinubu, who acknowledged that the policies are harsh on the people, stated that the decision became imperative in order to salvage the country from the crises facing it.
Speaking during the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure, FUTA, the President, who was represented by the Vice Chancellor of the University of Ilorin, Prof. Wahab Egbewole, stated that Nigeria is now moving from consumption to production economy.
While calling for the people’s understanding and support, he maintained that his administration is open to criticisms and admiration.
The President said: “The need to salvage the future of our children and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates.
“I am not unaware of the consequences of the tough decisions on our people. I sincerely wish there could be softer options.
“The macro-economy of our dear country is improving by the day and beyond expectations. The micro-economy, which directly affects our citizens, is also taking shape gradually with positive results.
“By the grace of the Almighty God, every household will experience a better life and have brighter hope for the future.
“We are working hard to ensure the safety of every Nigerian in every part of the country. Our security architecture is up to the task, and the ugly narratives of the past are changing for good. Also, we are not relenting in our pursuit of making our country a haven of prosperity for all.”
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Ademola Adeleke and Two Years of Significant Milestone
By Eric Elezuo
“We are only getting started. The journey of transforming Osun State into a state of opportunities for all is ongoing, and with your continued support, we will achieve even greater things” – Governor Adeleke
The atmosphere at the Aurora Event Centre was a clear testament that the Governor of Osun State, His Excellency, Senator Ademola Jackson Nurudeen Adeleke, is not just a man of the people, but a man, whose presence and influence command love and admiration, evidence of his passion for good governance and lucid display of affection for the plight of the people.
It was the gathering of champions; a gathering that explains that his Excellency, better known as the performing Governor, has exceeded all expectations, and delivered much more than the dividends of democracy just two years in office.
The event was the celebration of excellence; the celebration of a significant milestone that has completely changed the topography of Osun State. The excitement exhibited by the people on the day, was therefore, not surprising.
Prior to the November 27, 2024 d-day, the Osun State Government had unveiled a 16-day events to mark the grand second anniversary as governor of the state.
The Secretary to the State Government, Mr. Teslim Igbalaye, who unveiled the ceremonies, rated Adeleke high in terms of service delivery, grassroots development and human capacity development.
The 16-day fiesta, according to Igbalaye comprises a health walk, novelty match, Jumaat, church service, state awards presentation, and projects commissioning.
Commenting on the achievements of the administration in the past two years, Igbalaye, said Adeleke had surpassed expectations, assuring that an increase in political activities would not distract the governor from completing all ongoing projects.
Among the projects commissioned was the dualisation of the Old Garage-Okefia Lameco Freeway, which was done by a former President, Chief Olusegun Obasanjo, which much gusto and fanfare with other dignitaries in attendance including representatives of the eight assembly – Senator Dino Melaye and Lanre Tejuoso. Others were Juju music maestro, Sir Shina Peters, notable traditional rulers, members of the executive council as well as state assembly members.
In his address at the commissioning, Obasanjo lauded Adeleke’s steadfastness in the discharge of his constitutional duties of providing good governance, reminding him that there are two more years from the present midterm, to unleash more his human faced policies, programmes and projects.
Other dignitaries that commissioned many other projects during the period included the Governor of Oyo State, Mr. Seyi Makinde, who commissioned the Osogbo Ring Road; the Minister of Works, Engr. Dave Umahi, and the Minister of Aviation, Festus Keyamo, who laid foundation for the proposed Osun Airport, and performed turning of sod for emerging projects, and a host of others.
It is worth noting that inaugurated projects spanned across the 30 local government areas in the state.
Presentation of bond certificates to contributory pensioners and presentation of award to Governor Adeleke by the contributory pensioners was also done.
As early as 10am, the event venue was a beehive of activities with groups, market men and women, political associations and students unions among others, singing the praises of the administration and the person of the governor. It was the grand entrance of the governor, flanked by aides and associates, that set the stage for what later become the mother of all events.
In their various speeches, all represented groups lauded the giant strides of the governor, highlighting areas of staunch improvement including Healthcare, Education, Investments, Entertainment, Sports, Rural Electrification and Technological advancement.
Additionally, awards were presented to outstanding individuals who contributed significantly to the growth and development of the state just as long awaited CofOs were released to deserving citizens of the state.
While addressing the mammoth crowd of happy indigenes, Governor Adeleke thanking them for their support and promised to continue his administration’s efforts in education, health, and infrastructure.
However, it was the governors speech that gave vent and flesh to the myriads of achievements that the brief two years of the Adeleke-led administration has bestowed on the people of Osun State.
He therefore, rendered his stewardship, a catalogue of immutable achievements that everyone has come to agree on.
He said, as broadcasted:
My good people of Osun State, today marks my two years in office as your popularly elected Governor. I start this broadcast by paying glowing tributes to elders, women, youths and residents of Osun State.
I convey my deep appreciation for your strong support and prayers. From November 27th, 2022 to date, Osun residents have demonstrated unshaken faith in our government. Your prayers for me and my team have strengthened us significantly. Your regular counseling have enhanced our intentional drive to deliver on good governance.
My people, you are well aware of what Osun was on and before we took over two years ago. We all recall the pains and sufferings of the public servants and pensioners. We remember the huge infrastructure and policy deficit in transportation, health, education, water, ICT, environment, agriculture and commerce and industry. We cannot forget in a hurry the deep gap between the state leadership and the people.
To revive the state and deliver on good governance, my administration launched out with a five-point agenda. We targeted specific areas of needs of the people which form the major components of the clearly defined agenda.The goal principally was to address the aspirations and immediate needs of our people.
In line with norms of accountability and responsibility to the electorate, I am obligated to render my stewardship midway into the life of our administration. It is, therefore, with praises to God Almighty and the universe that I address you on major advances our admnistration has already recorded across the sectors.
We pursue a preventive health care policy which places emphasis on access to health care. By today, our administration has upgraded 200 primary health care centers out of almost 400 with solar power, boreholes and medical materials. We are now shifting attention to the six general hospitals for upgrade and refurbishing.
In the same vein, we conducted two major Imole medical outreach with over 100, O00 beneficiaries. The third edition is upcoming, even as we have enrolled 29,000 pensioners in the health insurance scheme to bankroll their Healthcare.
On water supply, we developed three structure plans of immediate, short and long term template to resolve the acute water shortage inherited in 2022. Immediately, we delivered 332 boreholes across the 332 political wards in the state. Another 332 is ongoing. Simultaneously, we commenced the rehabilitation of the water works in major towns by relaying the rusted pipes laid in early 70s. Additionally, the abandoned 10 mini-water works are being revived while the project for Ora water scheme is also under implementation.
In the agricultural sector, we started the farm mechanization plan by purchasing 31 tractors in the first phase. Farm inputs were regularly distributed and I am launching the youth agropreneur programme across the 30 local governments and the area councils. We are reviving the farm settlements. We are implementing the new Cocoa and Cashew expansion initiatives.
For the education sector, the University of Ilesa has become a reality with take off grants and accredited courses. Rehabilitation of its internal roads are now ongoing. For the Osun State University, four abandoned projects were completed and a new anatomy laboratory was started and completed by our administration. We rehabilitated 99 secondary schools, restarted the upgrade of the six technical colleges and are about to issue letters of appointment to new teachers.
For the public service sector, our government has paid about 12 billion pension debt in two years compared with 11 billion paid by the opposition for its 12 years in the government of the state. We restored normalcy within the public service with permanent secretaries and regular promotion exercises. Half salary debt is being paid in phases, and a new minimum wage has just been approved for the state workers. Ours is an openly pro-workers government.
In Science and Technology, we gave Osun its first ICT policy, innovations policy and Startup legal framework. We introduced the first digital economy agenda for the state. Implementation of these policies and programmes are ongoing.
For the power sector, our government is finalizing a policy and legal frameworks for the electricity market system. With the devolution of the power sector, the passage of the electricity bill into law in Osun state will enable us to regulate stakeholders in the sector. An electricity regulatory commission will be set up to license generators of powers among others.
My dear people of Osun state, our administration has constructed over 120 kilometers of roads across the state. Several inter- state and intra-city roads completed are to be commissioned during this 16 days anniversary. Two major flyovers are also progressing to completion at Osogbo while works are progressing at the Ile Ife Flyover and Ilesa dualization.
I have redirected our efforts and plan at the completion of Iwo-Osogbo road. We have added the dualisation of Odoori – Adeeke road inside Iwo to be executed in two phases. The first phase will reach Post -Office and Oluwo Palace while the second phase will take off from Post Office to Adeeke Junction.
Our government has enhanced the local economy, not just through its local content policy, we have also expanded access to financing for artisans and small businesses through the cooperative societies. Several millions of naira have been advanced to the state cooperative movement as revolving loans, the first time since the First Republic. We encouraged creation of ward-based artisans cooperative societies across the 332 political wards. Another millions of naira have been advanced to the 332 business groups as revolving loans. During this anniversary, another set of small businesses will get microcredit cheques. Osun money is truly revolving within Osun State economy.
I want our people to note for the record that for all our projects and programmes, we did not obtain any loan. We only block leakages in the state finance and employ local content to moderate project cost and enforce high standards. We never discriminate on inherited projects and we never sack any contractors engaged by our predecessor. We run an open transparent government.
For the second half of our government, I reassure all sons and daughters of Osun State that the government under my leadership will complete all ongoing projects. We will continue to address the infra and social needs of our people. We will strike a balance between hard and soft infrastructure.
Going forward, we will deepen our consultation and interactive mechanism with the citizenry. As we have acted only in public interest in the last two years, we will sustain our responsiveness and respect for the wills and aspirations of our people.
Therefore, I invite you to join me as we commence the anniversary with town hall meetings and commissioning of projects and programmes.
Once again, I thank Osun elders, sons and daughters for your support and prayers. I remain your Governor who is ever committed to service to the high and the low, to the poor and the rich, and to all our citizens and residents.
I thank you for listening.
HE, Senator Ademola Jackson Nurudeen Adeleke, Executive Governor of Osun State.
Governor Adeleke, on July 16 2022 defeated the incumbent administration of Adegboyega Oyetola, and was sworn in as governor on November 27, 2022 to begin a four-year term.
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