Boss Of The Week
Abdulsamad Rabiu: Garlands for a Worthy Industrialist at 63
Eric Elezuo
Abdulsamad Isyaku Rabiu’s evolution into the world of superlative entrepreneurship and philanthropism is not a fluke. It is a calculated attempt through hard work, focus and the determination to excel. At 63, Rabiu remains a force to reckon in the business of putting smiles on the faces of Nigerians, especially his North West region origin, and Africans at large.
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 the world, especially his native Nigeria, live in defined comfort.
Rabiu is 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 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 has consistently listed the billionaire among the top billionaires in Africa, “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.
In 2022, the leading businessman, with an umbrella group comprising sugar and fertilizer manufacturing industries among other business concerns, paid a visit to the then President Muhammadu Buhari in Abuja. And true to type, Alhaji Rabiu exhibited the same stuff that has made him the toast of African entrepreneurship, when he made a whopping donation of N10 billion to the Nigeria Security Support Fund on behalf of his foundation, The Abdul Samad Rabiu Africa Initiative (ASR Africa). The donation was geared towards providing security equipment, medical and other supplies, upgrade of health facilities and other infrastructure for families of those on the frontlines.
It is on record that in the past seven years, BUA has built over 10 factories with two of the Group’s subsidiaries now amongst the top 10 largest publicly listed companies in Africa. It was therefore, not out of place to identify with the efforts of the Buhari administration in business and the security space.
Rabiu’s avalanche of successes, humanitarian endeavours and spread of business tentacles has bestowed on him the uncommon title of the highest employer of labour in his region, the Northwest of Nigeria, in addition to continually maintain his status as Nigeria’s second richest man.
Rabiu’s image as a great achiever looms large. He was honoured among other Nigerians by the now embattled Nigerien President, Mohammed Bazoum, with the “Order of Merit of Niger, Great Master of National Awards,” the highest honours of the country for his great strides in increasing understanding between the two nations and for acting as agent of social and economic development. This was to mark the country’s Independence Day.
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!
By Eric Elezuo and Ruth Akpan
As a testament to the enduring impact and love the inimitable Speaker of the Osun House, Rt. Hon Adewale Olumide Egbedun, has garnered from those around him, and beyond, a heartfelt thanksgiving service and sumptuous reception were organised to celebrate his entry into the ruby age.
Consequently, the beautiful city of Osogbo became abuzz as residents and well-wishers across the country gathered to celebrate the charismatic Speaker as he clocked 40 – a milestone birthday celebrating a legacy of dedication and service.
With the background belief that his existence and achievements in life are traceable to one source, Egbedun spared no expence to return all the glory to God Almighty. He therefore, kickstarted the celebrations with a thanksgiving service.
Attended by prominent figures from Nigeria’s political and economic spheres, the day’s festivities commenced with the arrival of the charismatic celebrant at African Church, Asi, Osun State, where the thanksgiving service was held in his honour.
As the congregation rose to welcome him, the celebrant took to the podium to deliver the Read Only Lesson, showcasing his spiritual eloquence. Before sharing his reflections, he regaled the audience with his favorite hymn, filling the sanctuary with soulful harmony.
In a heartfelt and inspiring sermon, Archbishop Michael Adeyemi, a revered spiritual leader, highlighted the Speaker’s virtues, accomplishments and unwavering commitment to public service- words that visibly moved the congregation, underscoring the significance of gratitude and celebration.
Following the thanksgiving service, guests made their way to the Oasis Event Centre, Oroki Extensive, Osogbo, where a lavish reception awaited. The event kicked off with an opening prayer, setting the tone for a joyous celebration.
In commemoration of the special occasion, the celebrant received a special birthday message from the Governor of Osun State, Senator Ademola Adeleke. The message signed by Mallam Olawale Rasheed, Spokesperson to the Osun State Governor read:
“It’s hearty for me to celebrate an exceptional legislator, Rt. Hon. Olumide Adewale Egbedun, as he turns 40 years old today. While many may see the numbers, I see the lives that the numbers counted for, the contributions to our dear state that made up the numbers, and the inspiration that his life serves to many.
“From the time that the baton of leadership has been passed on to him, Rt. Hon. Egbedun has been remarkable, coordinating the House of Assembly in such a way that it aligns with our administration’s efforts to transform lives and move Osun state forward. I’m particularly impressed by the Speaker’s ability to foster cooperation and unite interests for the common good of impacting lives.
“As he turns 40 today, I want to take a moment to compliment him for his sincerity of purpose and the unwavering dedication to shaping the state’s future. It is my prayer that God grants him many more happy and rewarding years just as it is my hope that he will continue to make meaningful contributions, not just for Osun state, but Nigeria as a whole.”
Governor Adeleke recognises the Speaker’s down-to-earth nature and a remarkable sense of purpose, expressing his deep admiration for the celebrant’s ability to bring diverse perspectives together to drive the objective of moving Osun state forward.
The Governor salutes Speaker Egbedun for the remarkable leadership he has shown in the House of Assembly, fostering cooperation through dialogue, acknowledging the pivotal role that the 8th Assembly under the Speaker’s guidance has played in the monumental achievements recorded by this administration.
Also celebrating the young Speaker, the Osun Amotekun Corps, in a statement signed by the Public Relations Officer, Idowu Abass, the Board Chairman, AIG Wale Abbas (Rtd), alongside the Corps Commander, Chief Dr. Hon. Adekunle Isaac Omoyele, praised Egbedun for his outstanding leadership, unwavering commitment to democratic values, and his continued support for the advancement of security and good governance in Osun State.
Describing the Speaker as a man of the people and a progressive legislator, the Amotekun Corps leadership commended Egbedun’s instrumental role in the swift and successful passage of the amendment to the Osun Amotekun Corps Constitution. The amendment has significantly strengthened the legal and operational framework of the Corps, thereby enabling it to effectively discharge its constitutional responsibilities in safeguarding lives and properties across the state.
“The Osun Amotekun Corps acknowledges with deep appreciation the leadership qualities of Rt. Hon. Egbedun, particularly his understanding of the importance of local security initiatives and his resolve to support institutions working towards the protection of our communities,” the statement read.
“As Speaker of the Osun State House of Assembly, his legislative insight and people-oriented approach continue to inspire a new generation of leaders across Osun State. His dedication to upholding laws that foster security, peace, and development reflects his deep commitment to the growth and welfare of our dear state.”
The Corps leadership further wished Speaker Egbedun good health, more wisdom, and greater accomplishments in the years ahead as he continues to serve the people of Osun State with passion and distinction.
Happy 40th Birthday, Rt. Hon. Adewale Egbedun!
Everyone, including Yeyeluwa Modupeola Adeleke-Sanni, who was given an opportunity to share their thoughts about the Speaker spoke glowingly, praising his role in good leadership, dedication and steadfast commitment to public service.
The highlight of the evening was the cake-cutting ceremony supervised by the Executive Governor of Osun State, Senator Ademola Adeleke.
Anchored by Olalekan Fabilola (Masoyinbo), the evening was filled with laughter, music and merriment as guests were treated to a sumptuous spread of delectable cuisines and refreshing drinks.
The atmosphere was electric as the duo of renowned artists Dr. Yinka Ayefele and SB Live took to the stage to deliver captivating performances with their infectious rhythms and melodies.
In response, Hon Adewale Egbedun expressed his heartfelt gratitude to his family, friends, colleagues and well-wishers for making his 40th birthday a memorable occasion.
Hon Egbedun was born on June 29, 1985, becoming the Speaker of the Osun State House of Assembly at the age of 38 in June 2023.
He had stated in his acceptance speech that the 8th assembly would prioritize workers welfare and citizens lives, improve infrastructure…
A thoroughbred individual, Hon Egbedun deserves all his flowers as he waddle through the ruby ages.
Congratulations sir!
By Eric Elezuo
“More than just selling cars, we are offering a complete ownership experience; Competitive pricing and flexible financing solutions; Comprehensive after-sales care; Certified pre-owned options; Expert maintenance and repairs; Customization and accessories tailored to your taste.
“But we are not stopping there. At the heart of New Era is a commitment to sustainability. We believe the future of mobility must be environmentally responsible. That’s why our lineup features a growing range of hybrid and electric vehicles, reducing emissions and moving us toward a greener tomorrow.
“We are also passionate about creating an inclusive and empowering environment. Today, I proudly celebrate our Auto Amazons — bold, brilliant women who are thriving in a space long dominated by men. You are trailblazers, and you deserve every accolade. At New Era, diversity and equity are not just values — they are guiding principles.
“Our team undergoes continuous training to deliver world-class service to every customer, regardless of gender, background, or status. Because here, every client matters, and every voice is heard.
“I would also like to express my deep gratitude to: Our principal, Jetour Mobility Services Nigeria Limited, for their vision and trust. My partner, Mr. Raf Abanum, for his steadfast support. And most importantly, our incredible staff, the backbone of this dream turned reality.
“To our future customers: We are here for you — to deliver not just vehicles, but memorable experiences, built on trust, quality, and excellence.
As we step boldly into this new chapter, I invite you all to join us — to drive with us into a future of innovation, sustainability, and shared success.”
Those were the power-packed words of the Chief Executive Officer as JETOUR begins a journey of Refining auto marketing in Nigeria.
With each impressive step, auto expert and entrepreneur, Mrs Oluwakemi Koyejo, known as Kemi by all and sundry, has continued to prove that ‘impossible’ is just another word not worthy of a second consideration. She has consistently broken barriers after barriers, placing herself top on the automobile ecosystem.
With a combination of stringent dedication, focus and commitment to her job description, she has successfully brought JETOUR cars to Nigeria under her New Era Automobile Services Limited.
This feat is in response of Nigeria’s quest for technologically advanced, affordable, and durable vehicles.
The special unveiling, performed under the supervision of the Chairman of Elizade Motors, owners of the Toyota franchise in Nigeria, Chief Michael Ade-Ojo, who urged motor lovers to take advantage of the ruggedness and state-of-the-art facilities of the automotive, held at the company’s showroom at Lekki, Lagos, marking the debut of Nigeria’s first exclusive Jetour showroom in Lekki, Lagos State.
Speaking at the event that had all the trappingsof colourful, with close friends and family members including colleagues and stakeholders in the motoring sector, in attendance, the chairman of the event, who was privileged to perform the unveiling, Choef Ade-Ojo commended the dexterity, candour and never-say-never attitude of Koyejo and her team, stressing that the JETOUR brand is topnotch, and that its models aligns perfectly with the rugged terrain and challenging climatic conditions of the Nigerian roads and environments
He noted that “Jetour is not just a stylish automobile; it’s a durable companion built to meet Nigeria’s peculiar demands. It is encouraging to see an initiative that prioritises innovation, reliability, and a future-forward approach.”
In her welcome address, Mrs Koyejo, who sits atop the budding automotive company as the Managing Director, described the launch as more than just a business milestone, saying it is a commencement of a new vista in not only mobility in state-of-the-art car, but a wholesome customer satisfaction experience within Nigeria and other countries that would be connected.
“Today marks more than the opening of a showroom; it is the beginning of a bold journey to redefine automotive excellence in Nigeria.
“We are proud to unveil the first exclusive JETOUR dealership in the country, bringing world-class technology, luxury SUVs, rugged off-roaders, and innovative electric vehicles closer to the Nigerian market,” she said.
She emphasized that the facility would not only provide real-time access to Jetour vehicles but also serve as a hub for after-sales services, competitive pricing, flexible financing, and certified pre-owned options.
Koyejo also highlighted the company’s commitment to sustainability, revealing that New Era’s product portfolio includes an expanding line of hybrid and electric vehicles aimed at reducing carbon emissions and contributing to a greener environment.
She extended appreciation to Jetour Mobility Services Nigeria Limited for its support, and to her business partner, Mr. Raf Abanum, for his unwavering encouragement.
A major highlight of the unveiling was a tour of the new showroom, showcasing JETOUR’S ’s versatile range of vehicles, from luxury designs to adventure-ready models.
The facility is expected to enhance the brand’s visibility and responsiveness to consumer needs in Nigeria’s highly competitive auto market.
Kemi Koyejo, a quintessential automotive has just taken a bold step towards redefining the Nigerian automotive landscape, and stakeholders, industry watchers as well as the general public, have said the sky is the limit in this human oriented endeavour.
Photos: Ken Ehimen
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