By Abdul Fagge
Nigerian billionaire and the third richest man in the country, Abdulsamad Rabiu, has signed a deal for the construction of a 1,000 metric tonnes-per-day palm oil refinery in Dubai, UAE.
The chairman of BUA Cement also stroke a big deal for the construction of Power Plant deals in the country.
The billionaire’s bold steps are expected to further boost Nigeria’s industrial and agricultural landscape.
Rabiu signed the multiple high-impact industrial and agro-processing agreements aimed at expanding his company’s footprint and supporting national development during a business engagement in Dubai.
The 1,000 metric tonnes-per-day palm oil refinery project is poised to significantly reduce Nigeria’s reliance on imported edible oil.
The refinery is expected to enhance local value addition, create jobs, and stimulate the agriculture value chain, especially in the oil palm sector.
In addition to the refinery, BUA Group will also establish a 20-megawatt gas power plant.
This project is designed to support the refinery’s energy needs.
It is expected to also contribute to broader energy supply, potentially powering surrounding communities and boosting productivity.
These strategic agreements mark yet another milestone for BUA Group.
Over the years, the industrialist has steadily become one of Africa’s largest conglomerates in food production, mining, cement, and manufacturing.
Rabiu’s latest move signals a strong commitment to driving industrialization in Nigeria through foreign partnerships and sustainable infrastructure development.
