Nigerian billionaire industrialist Abdul Samad Rabiu announced earlier this year the establishment of his Abdul Samad Rabiu Africa Initiative (ASRi). Rabiu is the sixth wealthiest man in Africa and the founder of BUA Group.
BUA Group is a Nigerian conglomerate focused on manufacturing, infrastructure and agriculture.
The ASRi is the company’s philanthropic arm. It is an annual $100-million Africa fund for social development and renewal, which was established with the sole aim of providing sustainable, impact-based homegrown solutions to developmental issues in health, education and social development on the African continent.
Since its inception in March, the initiative has dispensed several million dollars for key projects.
The ASRi aims to support Nigerians and Africans in infrastructure and capacity development, as well as national and regional governments. Its goal is to dispense $50 million to Nigeria and $50 million to the rest of Africa.
Below is a list of the donations made by the ASRi since its launch in March:
N1 billion ($2.62 million) to Ahmadu Bello University.
N1 billion ($2.62 million) to the University of Ibadan in western Nigeria.
N5 billion ($12.23 million) to Nigeria’s Akwa Ibom State to bolster health infrastructure and improve social development.
N1 billion ($2.4 million) in the form of an educational grant to the University of Maiduguri.
$3 million to the Ghanaian Education Ministry in the form of an educational infrastructure support grant.
The ASRi proposed to award $24.3 million (N10 billion) to upscale the healthcare system in four Nigerian states, including Ogun, Sokoto, Kwara and Edo. Each state would receive N2.5-billion ($6 million).
N2.5 billion ($6 million) to the Kwara State government to construct the most extensive oncology and diagnostics center in West Africa.
This brings the total sum awarded by the ASRi to $28.87 million.