Business

Why BUA Group Boss is still the most charitable billionaire

Published

2 years ago

December 25, 2022

Abdul Samad Rabiu, Elumelu, Dangote make Tinubu’s economic advisory panel

Why BUA Group Boss is still the most charitable billionaire

Like the popular saying of the renowned Lebanese-American philosopher, Kahlil Gibran that ‘kindness is like snow, because it beautifies everything it covers”.

For the Chairman of conglomerate BUA Group, Alhaji Rabiu Abdul Samad is a very good giver and will not cease to do charitable things while his knack for philanthropy is to say the least very overwhelming and very inexhaustible.

For his fire and flame of philanthropy appear never to wane and almost inextinguishable, as he is so unrelenting in his drive and determination to bring succour to the suffering masses without fear or favour, and this he has been doing for years in many states across the nation.

The Kano-born world’s richest billionaire, Alhaji Rabiu is so unperturbed and unrelenting in his commitment that as soon as he identifies any area of need anywhere by the people, he moves in swiftly and succinctly address the situation by alleviating their sufferings through gifts in cash and kind without even looking back, albeit without any publicity, except for the prying eyes of the press, who are always waiting to see where next his milk of generosity will flow. His latest input in providing quality education has received applause from many Nigerians across all boards.

Through his non-governmental foundation, Abdul Samad Rabiu Africa Initiative (ASR Africa) announced N5.5billion grant to 22 universities and institutions of higher learning across Nigeria of 250million Naira each towards infrastructure projects under its ASR Africa Tertiary Education Grants Scheme (TEGS).

This will bring to 30, the number of tertiary education institutions benefitting from various ASR Africa education interventions in Nigeria. Prior to this announcement, about eight Universities had benefitted from the ASR Africa TEGS Scheme – with some of the projects nearing completion.

Abdul Samad Rabiu, Chairman of ASR Africa and BUA Group, said: “At ASR Africa, we believe in Africa’s capacity to leapfrog the development divide through the SDGs. Good, quality investments in education is one of the ways through which we can achieve that. This is why education remains one of the three focal areas for ASR Africa’s interventions in Nigeria, and Africa and our investments in infrastructure for tertiary institutions are showing good promise.”

Rabiu has a penchant for giving with reckless abandon to generous and worthy ventures that will advance the welfare and wellbeing of the people, and this he does without winking an eye, a development that is silently and subtly being rebuffed by those in his ilk of equally stupendously rich, wealthy, influential and affluence. Rabiu is so large-hearted that hardly does a month pass without putting smiles on poor, needy, indigent and less-privileged people, who he feels for everyday in his cocoon, what is even more amazing and heart-rendering is that Rabiu never grandstands or boasts of his many ground-swelling gestures, even as he does not brood any idea of winding down or slowing down a bit in any foreseeable distant future.

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

20 hours ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

1 day ago

December 21, 2024

Sahara Weekly

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

Business

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Published

2 days ago

December 20, 2024

Sahara Weekly

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.

The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.

“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.

The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.

Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.

The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.

This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.