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Business News of Saturday, 11 November 2023


Nigerian billionaire Rabiu begins construction of N2bn 120 housing units for Nigerian army

Abdul Samad Rabiu Abdul Samad Rabiu

The Abdul Samad Rabiu Africa Initiative (ASR Africa) has started the construction of 120 family housing units for the Nigerian Army worth N2 billion.

The project started with a groundbreaking event held at the Muhammadu Buhari Cantonment in Abuja on Thursday, November 9, 2023.

ASR Africa is owned by Nigeria's second richest man and Chairman of BUA Group, Abdul Samad Rabiu.

ASR pledges N10 billion to Armed Forces

The grant is part of the N10 billion Security Support Fund given by ASR Africa last year to the Nigerian Armed Forces and security agencies, with N2 billion allocated to the Army.

At the event, the Managing Director /CEO of ASR Africa, Ubon Udoh, said the donation is to aid security agencies as there cannot be development without peace and security.

Udoh praised the Nigerian Army leadership for choosing the welfare of its personnel and promised continued support of the foundation in ensuring the complete performance and delivery of the project.

According to reports, the Chief of Army Staff, Lieutenant General Taoreed Lagbaja, appreciated BUA Group Chairman Rabiu's kind gesture to the Army.

The ASR Africa was founded in 2021 to provide sustainable, impact-based, and homegrown solutions to Africa's health, education, and social development issues.