₦airaland Forum

Temisia:
That's a good one. Food business is good business. Necessity is between food vs IT

Plus shelter...

Elbinawi:
Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion - Business - Nairaland

"BUA Foods Plc, one of the closely held businesses of Nigerian billionaire industrialist Abdul Samad Rabiu, completed the listing of its shares on the Nigerian Exchange on Wed., Jan. 5, after it received the requisite approvals from the regulatory authorities."

"Consequently, the net worth of Rabiu, the majority owner of one of Africa’s fastest-growing cement makers, BUA Cement, rose by nearly $1.9 billion to $7.2 billion thanks to the valuation of BUA Foods. His current net worth eclipsed the $6.6-billion wealth valuation of Nigerian telecom mogul Mike Adenuga."

Me:

To my Foreign Friends, Abdulsamad Rabiu is also from Kano state like Aliko Dangote, the richest Black man on earth.

I will still call out the Kano Billionaires to do more to uplift the standard of Education in Kano state and return the more than one million Out-of-school Children in Kano state back to school.

#ElbinawiTweets

also remind the shia movement to allow student be in school instead of trekking up and down and blocking express way

Senomi:
OLE!!!
After evading tax ( courtesy of the FG) and underpaying workers, even writing petitions to FG so his competitors will be pushed out of the way ( E.g ibeto cement)...... And his co- criminal ned nwoko who fish braindead nigerians are praising and worshipping without questioning the source of his wealth not knowing his net worth was acquired through loot and corruption, at the end he's squandering nigerians money by marrying underage girls and disposing his brownish grey watery sperm on their faces and hypnotizing them with private jets and lamborghini aventador...... rubbish!

Ned's money is not from corruption, get your facts right.
Ned litigated and recovered moneys that was refunded to states and local government from the Paris club. He did that based on agreement he will operate on a no win no fee basis. He financed the litigation and won. He got and is currently getting a commission for the Paris club refund.
What ever he chooses to do with his money is nobodys business.

seunaj:
If them born the next southern president well make e no learn the ways of these abokis. Who is Rabiu and Who is Mafab? All these is politics. Buhari cabals are pumping government funds to individual abokis in a bid to plot the total takeover of Nigeria economically the way they have already done politically.
In 2022, there will be an unaccountable unconditional cash transfer to ghosts, to the tune of billions of dollars. Another Aboki is about to be made rich with government funds. The southern leaders are cowards! Nigerian Christians are cowards! No apologies

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 competition 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!

hatchy:
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.

This concludes that you're from south-south.

Another Fulani man ;Chai ! While indigenous Nigerians are sleeping ;The Fulani invaders are getting monopoly; and allocations of our indigenous wealth to themselves.
Meet The Richest Fulani Men In Nigeria.

Aliko Dangote

First on our list is Aliko Dangote. He was born on 10th April 1957. He is the richest Hausa/Fulani in Nigeria. Also, he is the richest man in Nigeria and Africa.

Aliko Dangote is the owner and CEO of Dangote group. A company and conglomerate that is known for its dominance in cement and salt and virtually all household goods in Nigeria.

The Dangote group runs its operations majorly in Nigeria but has branches in many countries on the African continent. Aliko Dangote hails from Kano state and is listed no 19 in the Forbes list of richest men in the world. He has a net worth of $10.8 billion.

Abdulsamad Rabiu CON
His full name is Abdulsamad Isyaku Rabiu. He is the son of foremost Nigerian industrialist Khalifah Isyaku. He was born 4th August 1960. He is from Kano State.

Rabiu comes from a very wealthy background and is a businessman. He is the founder and chairman of the BUA Group. This is a conglomerate that majors in manufacturing, real estate, infrastructure, and agriculture. He is estimated to have a net worth of $1.6 billion. He ranks third in Nigeria and 16th in Africa in the Forbes list of rich men.

Rubbish

Them go just find one big name for their thief companies

For the media to report his wealth to be $7.2b
Then he must be worth more than $40B , fear naij politicians

Lights up my kpoli in peace

We know how these level day work.

Instead of us to think of how to make our lives better, we are busy comparing which tribe is richer than the other. That’s foolery.

Chatflick:
Igbo men are richer. Dem no just like dey make noise.

It's the other way round. They are not richer but like to make noise.

The Real billionaires in dollars don't make noise.

Geeman2006:
Good to know you have worked with the Big wholesalers in that market. No be lie. Those guys run things.. Their money is very loud, but low-key lifestyle. You forgot to add Dan gongola, Sufaye , Shehu Jos, Alh Barau..

If Northerners show off wealth like the Southerners do, Nigeria will go into a civil war!

Southerners are just loud and empty!

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.

May God help your myopic brain, you need serious deliverance

Croccityboi123:
Wow..
Congrats to him.
More breaking grounds

And yet they always say on these pages how the north is always dragging Nigeria down.

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.

Abi na, but at least we have some billionaires here

Maybe obikubana should increase his networth to 1.5b$ from the ever present 96m$



Upon all the developmental project bn embarked on by our ndi people acros the world, baby factories acros the country, drug pushing business (introduced to dem by tinubu)

Chatflick:
Igbo men are richer. Dem no just like dey make noise.

which igbo no Dey make noise .. most igbos are rich not wealthy

Even If It was a southerner.. It doesn't profit u in any way...
Go and hussle..no region or individual can have total control of Nigeria economy..
Stop giving urself headache

seunaj:
If them born the next southern president well make e no learn the ways of these abokis. Who is Rabiu and Who is Mafab? All these is politics. Buhari cabals are pumping government funds to individual abokis in a bid to plot the total takeover of Nigeria economically the way they have already done politically.
In 2022, there will be an unaccountable unconditional cash transfer to ghosts, to the tune of billions of dollars. Another Aboki is about to be made rich with government funds. The southern leaders are cowards! Nigerian Christians are cowards! No apologies

HacheNoire:
If Northerners show off wealth like the Southerners do, Nigeria will go into a civil war!

Southerners are just loud and empty!

Loud?...yes.

Empty?..lol...

The average southerner is a middle class and rich type yet they don't boast extreme rich billionaires....the average southern is loud because he/she has something to show for it...
The north or the other hand have 87% of it population in extreme poverty...let me repeat it....extreme poverty!!.. But ironically have two record breaking billionaires...
Compare both regions and receive sense

Cognitivereason:
Loud?...yes.

Empty?..lol...

The average southerner is a middle class and rich type yet they don't boast extreme rich billionaires....the average southern is loud because he/she has something to show for it...
The north or the other hand have 87% of it population in extreme poverty...let me repeat it....extreme poverty!!.. But ironically have two record breaking billionaires...
Compare both regions and receive sense

You just buttressing my point.

A Northerner does not need to show you anything. They don't brag it on facebook or Instagram. Some of the cars you southerner's brag on Facebook is what boys are using to race in the North without showing it.

Go see what Northern Elites are killing, and you will be amazed that Southerners are learners. They don't brag or force it, You will find them, and when you see them, you will go speechless

Not southerners that you can estimate their net worth on Facebook. Buy SUV, he will post. Buy car, he will post, even when its a Tokunbo car, he will still post on FB. Entering a private jet he does not own, he will upload on Instagram. Hire publicist to flood the social media space with his wealth


Learners!

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.

Mr. Analyst, if you congratulate the man and walk away you go die? The comparison is not necessary. BTW, no billionaire does business without borrowing money. Most of them don't even borrow with collateral.

I am impressed. That company was founded in 1988 and that makes it about 34 years old company. The only issue is that the valuation may be overvalued and he may now need to either support the price or create value to defend such valuation that strangely placed it above a FMN Plc that controls the flour industry and most of the food sector.
It's early days and I don't believe his valuation for bua foods is correct. Right now, Conoil is far more profitable especially with oil doing well at international markets yet an upstart in the capital market was valued higher than Conoil and on that basis inaccurately used to place Rabiu above Chief Adenuga

Na wetin dem intend power am they just announced so. Him never get the money, but he's the next in line to be pushed with the Buhari administration looted funds

FreeStuffsNG:
I am impressed. That company was founded in 1988 and that makes it about 34 years old company. The only issue is that the valuation may be overvalued and he may now need to either support the price or create value to defend such valuation that strangely placed it above a FMN Plc that controls the flour industry and most of the food sector.
It's early days and I don't believe his valuation for bua foods is correct. Right now, Conoil is far more profitable especially with oil doing well at international markets yet an upstart in the capital market was valued higher than Conoil and on that basis inaccurately used to place Rabiu above Chief Adenuga

Na wetin dem intend to power am with they just announced so. Him never get the money, but he's the next in line to be pushed with the Buhari administration looted funds

Another child of monopoly is delivered to Nigerians

The rich keep exploiting the poor in conjunction with corruption people in power.

SmartPolician:
Mr. Analyst, if you congratulate the man and walk away you go die? The comparison is not necessary. BTW, no billionaire does business without borrowing money. Most of them don't even borrow with collateral.

Mr Man don't impose your view on others
Else, this forum won't be as intriguing

Congratulations Sir...

I believe that Adenuga is richer than all these guys. The man shuns publicity , his companies are wholly indigenious with no partnerships and and the biggest of all.......Most of his companies are never listed. Just imagine if he goes PUBLIC in the stock market with his companies Your guess is as good as mines.

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.

Innoson Money long Well well o Bro.
The last time I checked GT Bank are indebted to him and he is only waiting for the debt to rise to the worth of GTB before he claims the Bank. Anyways he has assured customers that their savings and investments with the Bank is safe. Igbo Billionaires dey yet the poorest Igbo Man may never be half as broke as the poorest Hausa Man.
The middle class is a large class in other parts of the country, In Hausa land, you are either very rich or very poor, the middle class are but a few.

Whobedatte:
These ones no reach o.
Only worthy of mention I ommitted is Sani Trader at Bello road in Kano .
I worked with Fmcg in Kano so I know all these people one on one .
The last guy , Tukur sabaru is from Sokoto .

So you mean Dangongola no rich passed all those you mentioned?

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.

I don't know the man that lied to you that the north is the poverty capital of Nigeria, don't let the presence of almajeris decieve you. These guys are rich in dollars, go to their banks in the morning and understand what i mean.

A small boy of less than 20 years has a farm which has over 20million naira output for him per season and if he farms two season that's over N40million

You'll notice he doesn't speak English well yes, he looks like his last card is N100 yes! But look for his trouble and u will know who's trouble it is u just bought.

In fact in the north, u can be with a billionaire inside Keke you won't know, He'll great you normally and sit like u are an almighty to Him. Until the Keke stops at the carwash he packed his G-wagon Yes u heard me! ( This is very common in Kano)

If not for kidnapping and this religious crisis. The north is the best place to be in Nigeria,

Life is simple, food is affordable and then better opportunities to venture into.


The igbos claim to marry wives for 4million in Imo according to a nairalander here some days ago. A hausa bride gets almost 10,000,000 to shop for her wedding alone in Kano. These guys just don't brag. They are stinky Rich!!

Abdulkadir999:
So you mean Dangongola no rich passed all those you mentioned?

Walahi Bello Dandago no reach !