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Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion - Business (6) - Nairaland

Nairaland Forum / Nairaland / General / Business / Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion (47365 Views)

Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest / Abdulsamad Rabiu Gives Emir Of Kano, Aminu Ado, A N200M Worth Rolls Royce Car / Bernard Arnault Replaces Bill Gates As World’s Second Richest Man (2) (3) (4)

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Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by ariesbull: 10:36am On Jan 07, 2022
Myer:


The north has both extremes.
The richest in Nigeria and the poorest in Nigeria.
Just like their weather. Extreme heat and extreme cold.
no middle ground
... While South has the best of both world

1 Like

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by NOETHNICITY(m): 10:36am On Jan 07, 2022
IGBOSON1:


You understand exactly what's going on!

Few weeks ago MTN and a new kid on the block MAFAB (that emerged out of nowhere) 'won' the bidding for the 5G licence in Nigeria! I immediately suspected that MAFAB was quickly formed by muslim core north oligarchs to equally become a player in the communications sector! You've got to fear these peoples ability to act as one in a bid to control the Nigerian political-economy!

Hardly any of their big businesses grows organically, but are the end result of all these backroom and coded 'arrangements'! See how they suddenly found $2 billion and are laying pipes at breakneck speed to take gas from the south-east to the north. This is a loan all of us will pay back, and bear in mind that the industrial centres of Onitsha and Nnewi are yet to be hooked up to any gas supply! Similar thing is happening with the Maradi rail line that they're borrowing billions of dollars to construct while the south-east and south-south are still waiting for their own!

Any sector they don't control or have a big player in....or one in which they see a southern competitor as a threat (Ibeto) they will use their control of Aso Rock to try to frustrate said compatition out of contention; or....like with Air Peace, they will find a way to launch a publicly owned competition (Nigeria Air) to reduce the market leaders share of the market. They're good at engineering things codedly, so you wouldn't suspect they're involved, and i suspect they had a hand in the saga that led to the removal of Kemi Adeosun and the one that led to the removal of Fowler....both replaced by northerners.....ditto Onnoghen. They don't have a 1st tier bank they control, and i suspect they have a hand in the aquisition of Union Bank by a much smaller new entrant in the finance sector.

They control NNPC, NPA, Customs, Judiciary, Armed Forces, and any other body that's significant in Nigerias' political-economy! You can now understand why they just had to find a way to capture Mazi Kanu as he was a thorn in their flesh and capable of derailing their gravy- train!
The problems you listed up here are common with the three big tribes(hausa, yoruba and Ibos). Just that northerners have the longer legs, and that's why you guys are crying upandan.
The three big tribes are the problem of Nigeria
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by nedekid: 10:37am On Jan 07, 2022
Senomi:

Can he swear on his children's life that a part of his money was not gotten through corruption? Remember he was a senator and currently his net worth as I've heard is $2.3 billion dollars....... Which kind yeye litigation and nonsense agreement did he have FG that he'll be allowed to acquire that huge amount of money? Isn't it nigerians money? That guy is a motherfucking theif!!!! simple and short, if nigeria was a system that works his net worth won't even be up to $500k
Forget about those outrageous sums of money claimed be be his networth. It is not true. If you know Ned and how he spends money, him having 1m you will think he has 100.
Ned was a member of house of rep 20years ago and was just a member of the aviation committee. I assure you he spant more on politics then than he ever benefited. He got elected as a senator but kicked out by the tribunal.
Now regarding Paris club refund. Obj paid back the debt buy back years ago. Ned as an international lawyer based out of the UK discovered a procedural flaw in how the payments was made. He met with states and local government forum and got their consent to go after the Paris club. They contributed noting to fund the litigation, rather they agreed to pay him a percentage of any monies he recovered.
The litigation took years but he got favorable judgement. Infact that money he recovered was said to have saved some states from bankruptcy during the economic downturn few years back.
The mistake Ned made was he did not pen it down to have deduction of of his commission at source ie as the money is refunded a part is paid to government and the other part to him.
Now states and local government have enjoyed the money in full, to pay Ned his legitimate portion na problem.
Truth of the matter is that as Malami said last week, the states are deceiving themselves, there is a judgement on ground and no matter what he will be paid.
What he chooses to do with his money is his business.
https://guardian.ng/politics/paris-club-refund-not-a-windfall-says-onaiwu/
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Nobody: 10:43am On Jan 07, 2022
nedekid:

Forget about those outrageous sums of money claimed be be his networth. It is not true. If you know Ned and how he spends money, him having 1m you will think he has 100.
Ned was a member of house of rep 20years ago and was just a member of the aviation committee. I assure you he spant more on politics then than he ever benefited. He got elected as a senator but kicked out by the tribunal.
Now regarding Paris club refund. Obj paid back the debt buy back years ago. Ned as an international lawyer based out of the UK discovered a procedural flaw in how the payments was made. He met with states and local government forum and got their consent to go after the Paris club. They contributed noting to fund the litigation, rather they agreed to pay him a percentage of any monies he recovered.
The litigation took years but he got favorable judgement. Infact that money he recovered was said to have saved some states from bankruptcy during the economic downturn few years back.
The mistake Ned made was he did not pen it down to have deduction of of his commission at source ie as the money is refunded a part is paid to government and the other part to him.
Now states and local government have enjoyed the money in full, to pay Ned his legitimate portion na problem.
Truth of the matter is that as Malami said last week, the states are deceiving themselves, there is a judgement on ground and no matter what he will be paid.
What he chooses to do with his money is his business.
https://guardian.ng/politics/paris-club-refund-not-a-windfall-says-onaiwu/
If this was jonathan's or obasanjo's tenure ned wouldn't hv smelled or dared to bring up the topic of acquiring paris club refund an individual doesn't have any right to a national treasury, the present corrupt
system greatly favored ned simple!
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by LILTJAY: 11:00am On Jan 07, 2022
Verysmart101:


[s]Dats y I said ur a kid young man.Do u think Igbos will pay Forbes to deceive Nigerians about their true networth? Ur a kid indeed.Can u tell me the networth of Ibeto,innoson,cosharis,Arthur Eze and co and ur here blabbing? Jeez grow up kid[/s]
mtcheew

1 Like

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Amodi470(m): 11:03am On Jan 07, 2022
Dangote should tight up his belt now the real competition starts between BUA GROUP and DANGOTE GROUP, it's a game of survival of the fittest.
Dangote refinery will be an added advantage to Dangote Group
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Nobody: 11:18am On Jan 07, 2022
Don't be deceived, This is where Nigeria money is being hide.Plan work shocked
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Investigative: 11:36am On Jan 07, 2022
olatuns2017:


Lekki Port ready for deliver as it reaches 80 percent completion........

Lagos now has two international Sea Ports!!!! SW will not forget APC Government.
Watch how fast it will become irrelevant if Igbo leave Nigeria
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Bukola94: 11:43am On Jan 07, 2022
einsteine:


I hope you are joking sha
they are the ones that boast and oppress their village people past.
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by haslaw(m): 11:46am On Jan 07, 2022
BestRicePlug28:




Learn to argue without abusing, even the USA has slums too,


Ndi nkporu miri cannibals,go to any prison in all the parts of Nigeria and look at the prison records you will find that you Igbo carnibals are the highest.

Yeebos Carnibalis are a curse to any country they visit. They are alway soiling the name of Nigeria home and abroad.

1 Like

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by leksite120(m): 12:02pm On Jan 07, 2022
Verysmart101:

That's y I said Forbes is ur problem.How can u know Obi's true worth because of a newspaper publication? Social media is different from reality please.Forbes said that dangote is worth $10b but the refinery he is building has surpassed $12b and still counting.Pls grow up man.Not every publication u see in someone's networth is true please
Did they say he's the only one that has share in the refinery? He's just the highest stakeholder which makes him the owner.
And since no one knows Obi and some Igbos worth, why do u people inflate their worth, we can also assume that Obi is just 30milion dollars worth and not even 80milion that Forbes called him..

Also, going by your illustration, we can also assume that, Dangote might be 50bilion dollars worth(after all, his business spans all over the continent).
And by your illustration, we can also derive that there are more Hausa and Yoruba who worth bilions of dollars, so it's not only Igbos or Obi that your assumption would work for. With that, let's still hold the Forbes calculation , it's still the only best option. And again, Forbes or no Forbes, no Igbo man alive is richer than AbdulRabiu Abdulsamad(BUA owner).
What you don't realize is that, for someone to worth bilions of dollars, your business or what you offer has to reach a lot of people like milions. For example, Mike Adenuga who owns Globacom has milions of users which we all know, so it won't be a shock if he's worth that much, same as BUA owner.

Take Jeff Bezos for example, or rather all the first ten richest in the world or the first ten richest in Africa, you'll see that their businesses reach a lot of people for them to attain such wealth. Now , tell me which Igbo man has his produce reach lots of people that'll make you doubt he's that wealthy to be richer than the BUA owner.

1 Like

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by EmmyOD(m): 12:55pm On Jan 07, 2022
If Adenuga sells his shares too he will still jump over him.
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by LillyandDaisy: 1:04pm On Jan 07, 2022
Temisia:
That's a good one. Food business is good business. Necessity is between food vs IT
You’re right!!!
Energy, foods and IT
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Verysmart101: 1:06pm On Jan 07, 2022
leksite120:
Did they say he's the only one that has share in the refinery? He's just the highest stakeholder which makes him the owner.
And since no one knows Obi and some Igbos worth, why do u people inflate their worth, we can also assume that Obi is just 30milion dollars worth and not even 80milion that Forbes called him..

Also, going by your illustration, we can also assume that, Dangote might be 50bilion dollars worth(after all, his business spans all over the continent).
And by your illustration, we can also derive that there are more Hausa and Yoruba who worth bilions of dollars, so it's not only Igbos or Obi that your assumption would work for. With that, let's still hold the Forbes calculation , it's still the only best option. And again, Forbes or no Forbes, no Igbo man alive is richer than AbdulRabiu Abdulsamad(BUA owner).
What you don't realize is that, for someone to worth bilions of dollars, your business or what you offer has to reach a lot of people like milions. For example, Mike Adenuga who owns Globacom has milions of users which we all know, so it won't be a shock if he's worth that much, same as BUA owner.

Take Jeff Bezos for example, or rather all the first ten richest in the world or the first ten richest in Africa, you'll see that their businesses reach a lot of people for them to attain such wealth. Now , tell me which Igbo man has his produce reach lots of people that'll make you doubt he's that wealthy to be richer than the BUA owner.

This is where ur own ignorance sets in.Do u know that Innoson has oil companies in African nations? Did u know that Innoson was awarded 11 oil blocs lisences in serria Leone in November 2020? Because Forbes doesn't recognize him u will say he isn't a billionaire in Dollars.You can Google about Innoson oil and gas and see for your self.Stop saying what you don't know young man.Do u know that Arthur Eze has so many oil blocs in African countries? My friend u need to understand life.Peace out

1 Like

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by olatuns2017: 1:23pm On Jan 07, 2022
Investigative:

Watch how fast it will become irrelevant if Igbo leave Nigeria

IBo:landlock

It will make lagosians earn more money

1 Like

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Investigative: 1:25pm On Jan 07, 2022
olatuns2017:


IBo:landlock

It will make lagosians earn more money
Mumu
Contonu have more seaport
But is irrelevant cos no one is using it
Once bịafra emerge
Boom your seaport will turn to Contonu seaport
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by wealthtrak: 1:32pm On Jan 07, 2022
stephanie11:
POLITICSNIGERIA.COM



https://politicsnigeria.com/abdulsamad-rabiu-becomes-nigerias-second-richest-man-now-worth-7-2-billion/
Overtaken Mike Adenuga. But the reclusive Adenuga is worth more than is presently
declared for him though.

1 Like 1 Share

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by olatuns2017: 1:33pm On Jan 07, 2022
Investigative:

Mumu
Contonu have more seaport
But is irrelevant cos no one is using it
Once bịafra emerge
Boom your seaport will turn to Contonu seaport


Pls when you have Biafra does it mean you won't do importation again...


Because I know SE is landlock!

Educate me ooo
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by ORIAYO70(m): 1:42pm On Jan 07, 2022
hatchy:
This is a Northern Nigeria Billionaire. All they do for their brothers like Dangote, Indimi and the rest is to grant them tax free on imported raw materials, machinery etc. that is supposed to be used to develop the economy.
Upon their wealth, North is the poverty capital of Nigeria. A serving governor from the North once said that the Northern cap represents poverty. If you see the cap,you have seen poverty. He also said that it is only in the North you still have mud houses in Nigeria.

Meanwhile, I have never seen Billionaire from the South East. Perhaps all they have are plenty millionaires. Don't count the owners of Air peace, Innoson as Billionaires because their money is borrowed from banks and hire purchase aircraft. Although Igbo dey try sha pass Ndi skullers in South West.

Igbos r President of skull minners n cannibalism
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by brandon2009: 1:50pm On Jan 07, 2022
Digitallegendzx:
Na Brandon way I know
How far brother..
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by BestRicePlug28(f): 1:59pm On Jan 07, 2022
haslaw:



Ndi nkporu miri cannibals,go to any prison in all the parts of Nigeria and look at the prison records you will find that you Igbo carnibals are the highest.

Yeebos Carnibalis are a curse to any country they visit. They are alway soiling the name of Nigeria home and abroad.



Lols, I'm not even an igbo woman, that's our problem. How can we be shouting one Nigeria when we can't argue with valid points but always but abuses. My brothers from the north, stop this!
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by BestRicePlug28(f): 2:00pm On Jan 07, 2022
Verysmart101:


Ok u made some tangible points now.
thank you sir
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Investigative: 2:00pm On Jan 07, 2022
olatuns2017:



Pls when you have Biafra does it mean you won't do importation again...


Because I know SE is landlock!

Educate me ooo

Yes we will stop importation of finish goods

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Digitallegendzx(m): 2:04pm On Jan 07, 2022
brandon2009:

How far brother..
from Suleja...?
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by leksite120(m): 2:06pm On Jan 07, 2022
Verysmart101:


This is where ur own ignorance sets in.Do u know that Innoson has oil companies in African nations? Did u know that Innoson was awarded 11 oil blocs lisences in serria Leone in November 2020? Because Forbes doesn't recognize him u will say he isn't a billionaire in Dollars.You can Google about Innoson oil and gas and see for your self.Stop saying what you don't know young man.Do u know that Arthur Eze has so many oil blocs in African countries? My friend u need to understand life.Peace out
And who told you that other billionaires too doesn't have oil blocks, it is only Innoson and Arthur eze that have oil blocks. If his net worth is up to a billion dollar, why won't Forbes rate him, or is Forbes Nigerian Government that would spread propaganda again? If you don't know, there are several rich people too that haven't gotten recognition , not only your people. Innoson might be popular but he hasn't attained the status of the likes of AbdulRabiu, I repeat, no Igbo man alive is richer than AbdulRabiu AbdulSamad

4 Likes

Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Verysmart101: 2:14pm On Jan 07, 2022
leksite120:
And who told you that other billionaires too doesn't have oil blocks, it is only Innoson and Arthur eze that have oil blocks. If his net worth is up to a billion dollar, why won't Forbes rate him, or is Forbes Nigerian Government that would spread propaganda again? If you don't know, there are several rich people too that haven't gotten recognition , not only your people. Innoson might be popular but he hasn't attained the status of the likes of AbdulRabiu, I repeat, no Igbo man alive is richer than AbdulRabiu AbdulSamad

That's y I keep saying ur a small kid.Doesnt Emeka offor have many blocs in serria Leone and Nigeria? U are still a kid.How can Forbes know all the billionaires in the world small kid? Ur still a baby boy.Dangote can never say wat u baby boy is saying.Grow up boy.Forbes has its limits little kid
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by Hkff: 4:15pm On Jan 07, 2022
Oh
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by donforeign: 7:02pm On Jan 07, 2022
12rev:

If na you you no go fear? Dude is treatening to take over food and cement production and may be next would be refining....by then dangote done cash out sha
I no like dangote
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by tiger28: 8:29pm On Jan 07, 2022
Feelings79:
Honestly, what turned the table around for the Igbos is the civil war.Before the war, the Igbos led Nigeria in all sectors of the economy without a doubt.Sir Lois Ojukwu had to lend Nigeria his car to be used in driving around the Queen.But to say Igbo men are richer today is something I will seriously doubt as there's no evidence to show.They could be millionaires in many numbers but not the types that were there before the war.What is not counting in favour of the Igbos inspite of their hardwork is the lack of asses to state power which the yorubas and hausas have exploited over time to leverage their people.And what is making it hard for the Igbos to gain the acceptance of the generality of Nigerians as the necessary stepping stone to state power is the obsession of the Igbos to all things Biafra
Goodluck Jonathan era?? Cry Babies.....you forgot?
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by haslaw(m): 9:44pm On Jan 07, 2022
BestRicePlug28:




Learn to argue without abusing, even the USA has slums too,

You are a hypocrite. People like you are the problem of Nigeria. Why didn't you condemn the post of hatchy in the first page of this thread.

I am not a Hausa man, but that should not mean we should not appreciate them when they do something good.
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by BestRicePlug28(f): 5:33am On Jan 08, 2022
haslaw:


You are a hypocrite. People like you are the problem of Nigeria. Why didn't you condemn the post of hatchy in the first page of this thread.

I am not a Hausa man, but that should not mean we should not appreciate them when they do something good.


I accept I'm a hypocrite. But it's best I'm not a sadist who can't argue without throwing abuses, I didn't see hatchy's post, I saw yours, Thank God u are not hausa neither am I so Keep your long abusive mouth far away from me this morning because me I will answer you. No try am!
Re: Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion by haslaw(m): 6:43am On Jan 08, 2022
BestRicePlug28:



I accept I'm a hypocrite. But it's best I'm not a sadist who can't argue without throwing abuses, I didn't see hatchy's post, I saw yours, Thank God u are not hausa neither am I so Keep your long abusive mouth far away from me this morning because me I will answer you. No try am!

Tunda faya you this evil and wiked hyp0crite. Why are you thanking God that you are not Hausa as if it is a crime to be Hausa or any other tribe in Nigeria. Tell us your own tribe and let's see if they are better than others.

Since you hate the Hausas so much why don't you start killing them on the streets of Nigeria.

You are a bitter and frustrated baby fact0ry pr0duct and you can't hide it

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