Friday, 21 March 2014

Forbes declares Nigeria’s Abdulsamad Rabiu Newest Billionaire –, Net Worth – 1.2 Billion Dollars


 Born in Nigeria’s northwest state of Kano, Rabiu, age 53, is the son of well known businessman Isyaku Rabiu, who made a fortune in trade and industry in the decades after Nigeria’s independence from the UK in 1960. By the 1970s, Isyaku emerged as a key sponsor of the National Party of Nigeria, which became the ruling political party after the country returned to civilian rule following the elections of 1979. A military coup in 1983 toppled the government and led to the arrest of then-President Shehu Shagari and many of his close associates, including Isyaku.




 Around this time, the younger Rabiu earned his bachelor’s degree in economics from Capital University in Columbus, Ohio. He returned home to find his father’s business in a precarious state following his incarceration. Barely 24 years old, with little business experience, Rabiu had to lead his father’s business empire during dark days.

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