Abdul Sam ad Rabiu Joins League of Africa’ s Biggest Philanthropists
Magnates are gods of the franchises they create. And guardians of the world’s their business empires inhabit. It’s a huge task. They inÁuence economies, politics, and cities. And if they are very ambitious, they create not just the laws of government, but also the laws of nature. However, no magnate has been a god to as many vastly diͿerent worlds as BUA boss Abdul Samad Rabiu. His worlds are Áooded with the brilliant light of his imagination, whether he’s building on the past, determining the present, or strategising the future no one had ever imagined,
Many have wondered how he came WR DPDVV VXFK YDVW DXHQFH DQG DQ enduring sway at the pinnacle of the business world; it’s mostly a function of perception. He had an ingenious ability to discern the labyrinthine tracts of commerce and his persistence in asking ‘why?’ It would be recalled that millions saw the apple fall, but it was only Newton,whoasked¶why?’Thelatescientist,whileblessedwithincredible genius, also betrayed an amazing gift of perception. He observed the little details that often counted but are habitually discounted in the Áurry of things, which led him to the achievement of great exploits and enviable rewards.
Rabiu is no Newton, but he displays a towering sagacity and wonderful gift of scrutiny similar to that oft ascribed to the late scientiÀc genius. So adept is he at his vocation that he constantly discovers rare business opportunities often invisible to his peers. Simply put, Rabiu has acquired his reputation by good judgment, fair dealing, exactness, and rectitude - which jointly constitute the essence of his good fortune.
Little wonder, he has steadily evolved as Africa’s second-biggest philanthropist with his BUAFoundation and the phenomenalAbdul Samad Rabiu Africa Initiative - the Àrst being Globacom chairman, Dr. Mike Adenuga Jnr.
Rabiu’sphilanthropicinitiativeswereestablishedtosupportsustainable development initiatives in health, education, and social development within Nigeria and the rest of Africa through its annual $100 million grant. Often called ¶Mr. Talk and Do’ by many Nigerians, Rabiu has shown that he is not just about making money but also making it available as a resource for advancing humanity.
ASR as Game-changer in Global Philanthropy
ThereisnodisputingthepluckandenviableprescienceofAbdulsamad Rabiu. Like the fabled alchemist, who transforms base metals into gold blocks, Rabiu enchants business rivals and peer with towering acumen and Ànesse.
For the umpteenth time, the billionaire founder of BUAGroup has bestedhimselfinhisexploits.LastMarch,industrialistextraordinaireand BUAGroupchairman,AbdulsamadRabiu,launchedtheAbdulSamad RabiuAfrica Initiative, which aims to unlock sustainable development opportunities in Africa, by Africans, for Africans that would cater for various interventions in education, health and social development. The initiative started with a $100 million annual funding for Africa’s social development and renewal - $50 million would be dedicated to Nigeria yearly while $50 million would go to the rest of Africa.
Hesaid,“ItiswiththeblessingsoftheAlmighty,myfamily,colleagues, the support of my community and the backing of my conscience that I announce the launch of the Abdul Samad Rabiu Initiative, with an Africa fund endowment of $100 million every year starting from this year, 2021.
“With theAbdul Samad Rabiu Initiative and its annual $100 million Africa Fund for Social Development, we are speciÀcally extending this work to the education, health and social development sectors, starting with infrastructure and capacity development in these areas and supporting the eͿorts of various governments in Nigeria and SubSaharanAfrica. Our broad focus is equipping facilities, our researchers, healthcare practitioners and community-level service providers, with the aim of providing sustainable solutions for generations to come.”
He added that as the world tries to claw its way back to business as usual, “the initiative aims to be a modest reminder to us all that until our health, education and other development issues are Àxed, business as usual in these times, means business as brutal. We pledge to continue to do what we can to support ongoing eͿorts by various governments to bridge the development divide across Africa.”
Rabiu announced a N1 billion donation to six higher institutions in Nigeria ² the University of Ibadan, Ahmadu Bello University, =aria; University of Nigeria, Nsukka; the University of Maiduguri; the University of Ilorin; and the University of Benin. All the universities have got their NI billion each. He didn’t stop there. Early July, the ASR and the Kwara government jointly announced the construction of the largest oncology and diagnostic centre in West Africa to be built with a N2.5 billion ASR Africa Tertiary Health Systems Infrastructure initial grant recently awarded to the state from theARS’s annual $100 million Africa Fund for Social Development and Renewal. The ASR Africa Oncology and Diagnosis Centre is a standalone facility dedicated to
Oncology diagnosis, research, and treatment, to bridge the gap in cancer research, diagnosis, and treatment in WestAfrica. Construction is expected to commence on-site before the end of August.
Similarly, the ASR is supporting the construction of the Akwa Ibom State University Teaching Hospital with N5 billion, for which N2.5 billion was disbursed immediately to commence construction. Governor Udom Emmanuel of Akwa Ibom said: “We are happy to receive the Àrst tranche of N2.5 billion from the ASR Africa Initiative and the groundbreaking ceremony coming just two weeks after the N5 billion grant was announced signposts the seriousness we attach to delivering a teaching hospital that would be a model for others and one Nigeria would be proud of.”
Few days before then, the ASR awarded a $3 million education infrastructure support grant to the Ghanaian government through its Ministry of Education to eradicate ¶schools under trees’ whilst developing primary education infrastructure across the country.
In the same month of June, a subsidiary of the BUA Group, the BUA Cement Company, had donated a school, hospital and other infrastructures worth N230 million to two relocated communities, Gidan Bailu and Gidan Datti in Wamakko Local Government Area of Sokoto. The donated facilities comprise a school with two blocks of classrooms, an administrative block, a township mosque, a clinic, two boreholes, a 30 KVA electricity transformer, township electriÀcation installationsandacemetery.Accordingtothecompany,thefacilitiesare meant to complement the eͿorts of the state government in enhancing people’slivesandtofacilitateaconduciveenvironmentfortherelocated citizens to dwell in good living conditions.
Rabiu’s Heart of Gold
Often called ¶Mr. Talk and Do’ by many Nigerians, Rabiu has shown that he is not just about making money but making it available as a resource for advancing the lot of humanity.AForbes-rated billionaire, Rabiu’sreputationasoneofAfrica’sbiggestphilanthropists,wasfurther reinforced during the coronavirus pandemic, leading to a cessation of socio-economic activities across the country. Amid the doom and gloom of the pervasive fear of the pandemic, and the Áagging faith of Nigerians per their survival, the billionaire chairman of BUA, through his social impact and philanthropy arm, raised hopes and planted joy in the bosoms of Nigerians.
As of January 2021, BUA Foundation had so far committed over N7billion in cash, foodstuͿs and medical supplies, amongst other things to the federal and state governments and various humanitarian agencies. Earlier, the foundation had donated 31 ambulances to Lagos, Kano, Rivers, Sokoto, Jigawa, Katsina, Edo and Kwara, and cash sums ranging from N100million and above to eight states and N300 million to the Presidential Task Force on Covid-19. Not forgetting that at the outbreak of the pandemic in Nigeria, he announced a donation of N1 billion in cash through the BUA Foundation to CACOVID (the private sector coalition spearheaded by the Central Bank of Nigeria andtaskedwithpullingresourcesacrossindustriestoprovidetechnical and operational support while building advocacy through aggressive awarenessdriveswiththesoleaimofcombatingcoronavirusinNigeria) and also placed an order for an additional donation of equipment and medical supplies to many states in Nigeria.
The BUAGroup, one of Nigeria’s leading foods and infrastructure conglomerates, announced that it had purchased one million doses of theAstra=eneca COVID-19 vaccine through theAfreximBank vaccine programmepartnershipwithCACOVIDBUAisafrontlinememberof theCACOVID.Astatementbytheconglomeratemanagementposited that the vaccine doses would be distributed to Nigerians at no cost.
Why France Honoured Him
For his commitment to developing lasting relationships between French and Nigerian businesses, the French President, Emmanuel Macron, had, inApril 2021, appointed Rabiu as chairman of the France Nigeria Investment Club. This was on the heels of signing a bilateral agreementbetweenBUAGroupandAxensofFranceforBUA’sproposed 200,000barrels per day reÀnery in Akwa Ibom. The reÀnery will be completedin2024,anditisexpectedtosavetheNigerianeconomyfrom a huge foreign exchange drain in the import of petroleum products. The employment generation capacity is also huge.
To celebrate the deal, President Macron hosted the illustrious industrialist at his oce in the elyspe Presidential Palace, where they discussed the strengthening of economic and business ties between France,Nigeriaandsub-SaharanAfrica.TheFrenchpresidentexpressed optimism that there were opportunities to be unlocked in the business relationship between Africa and France. He looked forward to BUA Group being one of the African businesses leading that charge.
Just last week, Macron appointed Rabiu as the inaugural President of the French Nigeria Business Council, a private sector initiative to facilitate business cooperation between both countries, which was launched on the margins of the Choose France summit at Versailles on June 28. Other Nigerian members of the council are Gilbert Chagoury (ChagouryGroup),MikeAdenuga(Globacom/Conoil),AlikoDangote (Dangote Industries), Tony Elumelu (Heirs Holdings/UBA/TEF), and Herbert Wigwe (Access Bank). Also on the council are more than a dozen CEOS from some of the biggest French companies, including TotalEnergies, Axens, Danone, and Dassault.
TheBUAGroupchairmanthankedPresidentMacronfor“hisvision in creating the French Nigeria Business Council which has led to a reset in the business relationship between Nigeria and France and has created a viable platform for business from both countries to partner and improve business ties.”
Rabiu said, “Nigeria is blessed with numerous potentials for French companiestodobusinessacrossdiͿerentareas,notablysolidminerals, mining, manufacturing, agriculture, associated equipment, power, food processing, and even in the business of associated equipment or infrastructure for the value chains of these sectors.
“WhereFrenchbusinesseshaveformerlybeenrisk-averseoroutrightly unable to do business with Africa’s largest economy, they can now be assured of a platform through which they can penetrate and mutually grow the market. Where Nigerian companies had not seen French companies or the French market as a viable destination due to a lack of information, they can now be sure of a platform to facilitate this. This is all thanks to President Macron’s foresight and vision.”
The Awards Pour in
Named the Vanguard Businessman of The Year 2020, the respected newspaper’sBoardofEditorsstated,“Inthesearchforthebestsamong the great corporate and individuals for recognition and honour, we received resounding recommendations on Abdul Samad Rabiu, Founder/Executive Chairman, BUA Group and Chairman, BUA Cement Plc.”
The Board of Editors also stated that a further inquest into Rabiu’s activities in 2020 indicated several bold initiatives in business development starting early in the year while ending the year in stallion performance. And in between, while coronavirus raged, he has also been found in the forefront of the national Àght against the pandemic in the public interest.