Nigerian billionaire Abdul Samad Rabiu secures $200 million from AFC to complete multimillion-dollar sugar project
The development significantly boosts Nigeria’s quest to ensure self-sufficiency in sugar production.
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The development significantly boosts Nigeria’s quest to ensure self-sufficiency in sugar production.
The loss was due to poor performance by his company, BUA Cement, on the Nigerian Exchange.
BUA Cement is a Nigerian cement manufacturer with an installed capacity of 8 million tonnes per annum.
The donation was made through his Abdul Samad Rabiu Africa Initiative, the philanthropic arm of BUA Group.
Wartsila Oyj Abp is a Finnish company that manufactures and services power sources and other equipment.
BUA Group will construct the 2,000-tonne-per-day plant with the Turkish MMM Erba Makina.
The ASRi is the philanthropic arm of BUA Group.
BUA Cement is the second-largest producer of cement products in Nigeria after Dangote Cement.
The donation was made through his Abdul Samad Rabiu Africa Initiative, the philanthropic arm of BUA Group.
The Central Bank made the announcement on access to foreign exchange for sugar imports on July 16.
Rabiu is the sixth wealthiest man in Africa and the founder of BUA Group.
The Nigerian cement tiger has a market capitalization of $5.85 billion on the Nigerian Stock Exchange.
BUA Cement is Nigeria’s second-largest cement producer and one of Africa’s biggest cement companies.
The ASRi Oncology and Diagnosis Center will be a standalone facility dedicated to oncology diagnosis.
French President Emmanuel Macron inaugurated the council on the sidelines of the Choose France Summit in Versailles.
Rabiu sold 27,130,000 shares held indirectly through BUA International between May 10 and 17.