BUSINESS

Billionaire Abdul Samad Rabiu, Bua Group Founder, Suffers Set Back

<h4>Billionaire Abdul Samad Rabiu&comma; Bua Group Founder&comma; Suffers Set Back<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> has gathered that there was an explosion on Friday at BUA Cement PLC factory in Sokoto State&period;<&sol;p>&NewLine;<p>Information gathered confirmed that two oil tanks belonging to the company exploded&period;<&sol;p>&NewLine;<p>The incident was said to have left some workers of the company dead while some sustained injuries&period;<&sol;p>&NewLine;<p>BUA Cement is owned by billionaire Abdul Samad Rabiu&period;<&sol;p>&NewLine;<p>It was gathered that one of the tanks was containing diesel while the other one contained black oil&period;<&sol;p>&NewLine;<p>Sources further revealed that the two tanks contained about five million litres of oil combined before the explosion&period;<&sol;p>&NewLine;<p>According to the source&comma; the staff were working on the tanks when they exploded around 9am&period;<&sol;p>&NewLine;<p>The fire was said to have raged for several hours&period;<&sol;p>&NewLine;<p>Another source revealed that part of the plant that was commissioned recently by President Muhammadu Buhari was destroyed by the inferno&period;<&sol;p>&NewLine;<p>This unfortunate incidence is believed to have set the billionaire businessman back in several billion Naira loss&period;<&sol;p>&NewLine;<p>It was also gathered that the tanks were supplying diesel and black oil to the new plant&period;<&sol;p>&NewLine;<p>Bello Baban Addini&comma; spokesman of the Sokoto Fire Service&comma; said they made efforts to put off the fire&period;<&sol;p>&NewLine;<p>He noted that they were investigating the cause of the explosion&comma; the number of casualties and the extent of damage it caused in the factory&period;<&sol;p>&NewLine;<p><strong>Source&colon; Daily Trust<&sol;strong><&sol;p>&NewLine;

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