How to Make It in 2024: Abdul Samad Rabiu and His Strategies
For the longest time, motivational speakers used the metaphor of “tough times don’t last, tough people do” to gather a following. Now that tough times are here, these motivators are gathering under the feet of Abdul Samad Rabiu, Chairman of BUA Group, to learn how to thrive during hardship. And Rabiu never disappoints with his strategies for success.
In the face of rising pressures against businesses in Nigeria, including growing transport costs and foreign exchange fluctuations, Rabiu and his team have devised a means to manage their challenges. Adjusting its supply chain, Rabiu’s BUA stands the chance of navigating the pressures and coming out stronger than ever before.
The prospects of BUA Group took a brighter turn upon the company’s investment in sugar estate recently. BUA Foods Plc, the food branch of the business, reportedly invested more than $200 million into a new project to improve the sourcing of raw materials. Focused on the integrated sugar estate located in Lafiagi, Kwara State, this investment is one of the boldest in 2024.
With this investment, it is estimated that BUA Foods Plc would be able to pull away from Nigeria’s current economic framework which makes sourcing raw materials difficult for domestic businesses because of the fluctuating exchange rates. Considering the potential of the agricultural sector, especially sugarcane farming, BUA Foods Plc believes that a breakthrough is at hand.
This is typical of Rabiu. Since he came into the limelight as a top genius businessman and investor, he has made one smart decision after another. From diversifying into one sector to thickening the social relevance of his enterprise in another, Rabiu stands as a giant of industry in Africa as a whole.
This recent $200 million plus investment is only the latest of Rabiu’s ingenious strategies to make a way where none is forthcoming. It only crystallises what Nigerians already know: that the man is a pillar of hope for Nigeria’s economy and future.