Atiku Abubakar and his Multi-Million Dollar Business Empire
Atiku Abubakar GCON was born on the 25th of November 1946, making him a 74 years old man. He is a Nigerian politician and businessman who served as the Vice President of Nigeria from 1999 to 2007 during the presidency of Olusegun Obasanjo.
Atiku Abubakar was born in Jada, a village in northern Nigeria. His father, Garba Abubakar was a Fulani trader and farmer, and his mother was Aisha Kande. He was named after his paternal grandfather Atiku Abdulqadir and became the only child of his parents because his only sister died in infancy. In 1957, his father died by drowning while crossing a river to Toungo, a neighboring village to Jada. Alhaji Atiku Abubakar has four wives and twenty-eight children. At the age of eight, Atiku Abubakar enrolled in the Jada Primary School, Adamawa, and was later admitted into Adamawa Provincial Secondary School where he graduated from secondary school in 1965. Following his secondary school education, Atiku Abubakar studied a short while at the Nigeria Police College in Kaduna after he worked briefly as a Tax Officer in the Regional Ministry of Finance and later gained admission into the School of Hygiene in Kano in 1966. He graduated with a Diploma in 1967 and enrolled for a Law Diploma at the Ahmadu Bello University Institute of Administration, on a scholarship from the regional government. After graduation in 1969, during the Nigerian Civil War, he was employed by the Nigeria Customs Service.
A Glimpse into Atiku Abubakar’s multi-million-dollar empire
Atiku Abubakar is noted as a Nigerian who has been a top civil servant, a vice-president, and a prominent businessman and philanthropist, making his fortune in the oil sector and giving some of it away to charity. Abubakar worked in the Nigeria Customs Service for twenty years, rising to become the Deputy Director, as the second-highest position in the Service was then known; he retired in April 1989 and took up full-time business and politics. He started out in the real estate business during his early days as a Customs Officer. In 1974, he applied for and received a 31,000 Naira loan to build his first house in Yola, which he put up for rent. From the proceeds of the rent, he purchased another plot and built a second house. He continued this way, building a sizeable portfolio of property in Yola, Nigeria. In 1981, he moved into agriculture, acquiring 2,500 hectares of land near Yola to start a maize and cotton farm. He later ventured into trading, buying, and selling truckloads of rice, flour, and sugar.
Abubakar was once quoted to have said that he believes himself to be the biggest private-sector employer in Nigeria. Mr. Abubakar, who has investments in media, shipping, education, and other sectors, said that he currently employs about 50,000 people across his companies which are based in Nigeria. Mr. Abubakar’s reputation in business is linked to the spectacular rise of the oilfield logistics firm that he co-founded in 1982 called Intels. From Intel’s original office which began in a shipping container, the company has grown into a multi-national, multi-billion Naira operation, employing more than 10,000 people. Over the years, Atiku Abubakar has diverted part of his wealth to charitable causes, most notably establishing the prestigious American University in Adamawa state, northern Nigeria. In order to break it down for you, let us look at a number of companies and investments owned by the former vice president.
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American University of Nigeria (AUN)
American University of Nigeria (AUN) was founded by Alhaji Atiku Abubakar, in Yola, the capital of his home state of Adamawa, North-East Nigeria. In 2002, His Excellency Atiku Abubakar approached the American University (AU) in Washington, DC, for advice and assistance in establishing an American-style university. That university was licensed as ABTI University in 2003, and the ground was broken for the buildings in October 2004 on the land originally donated by the 11th Lamido Adamawa, the late Alhaji (Dr.) Aliyu Musdafa, CFR. Today, AUN is seated on more than 2,500 acres.
The institution was conceived to provide education in Nigeria that is modeled after the best US practices in content and pedagogy. The three constituent schools were Arts & Sciences, Business & Entrepreneurship, and IT & Computing. In 2007, the name of the institution was changed to its present name of the American University of Nigeria (AUN). In 2008, the National Universities Commission (NUC) accredited AUN programs and re-accredited them in 2013. In 2012, AUN launched a graduate program, the Executive Master’s degree in Information Technology. Since then, more programs up to the Ph.D. level have been approved by the NUC.
Integrated Logistics Services (Intels) Nigerian Limited
Intels Nigeria Limited provides integrated logistics services for the Nigerian oil and gas industry. It offers agency services; cargo services; port management and support services in shore bases; and manages client operations, including pipe racks, stacking areas, warehousing, enclosed areas, jetties, offices, water tanks, fuel storage, generators, compressors, and various other services and facilities.
Adama Beverages processes table water, natural juice, and fruit drinks for Nigeria and its neighboring countries. The company started full-scale commercial production in 2007 for table water and natural fruit in 2008. With depots in Kano, Abuja, and Umuahia, it also has a 3rd party logistic system for product delivery across its markets.
Prodeco Nigeria Limited
Prodeco operates in Nigeria with two companies.
- Prodeco Property Development Company which was incorporated in March 1996 as a property development company, and operating within the main territory of Nigeria, and
- Prodeco International operating in Oil & Gas Free Zones.
The first company Over the years, PRODECO has engaged in building, marine, and infrastructural construction for various clients in the oil and gas industry.
Atiku Abubakar farms
Alhaji Abubakar also has a farm in Adamawa state. In 1981 he moved into agriculture, acquiring 2,500 hectares of land near Yola to start a maize and cotton farm. Although his early years in farming were greatly challenged, his once failed venture in agriculture has turned into a massive blossoming business today.
In recent years, Atiku Abubakar also opened Chicken Cottage – an international fast-food brand. Chicken Cottage has recently opened its Yola and it also has outlets in Abuja.
In 2002, Alhaji Atiku Abubakar established a private primary and secondary school which was called ABTI Academy back then (although the name has now been changed to AUN Academy). The school is located in the city of Yola, capital of Adamawa state. AUN Academy is located on the AUN (American University of Nigeria’s) campus in Yola, the capital city of Adamawa State.
Gotel Communications is a multimedia outfit based in Yola, Adamawa owned by Atiku Abubakar. TV Gotel is one of the popular TV stations in the northern region of Nigeria.
The Priam Group
Recently, the former Vice President of Nigeria, Alhaji Abubakar announced the merging of all his business outfits into a single umbrella brand known as The Priam Group. He said the fusion of the businesses will make for better efficiency.
Being a business tycoon and an industrialist of many years standing, and the founder of many businesses spanning several sectors of the economy including manufacturing, media, banking, logistics, agriculture, printing, education, eateries, beverages, real estate, and animal food processing – and a principal shareholder in many companies both within and outside of Nigeria – Atiku believes that this process of restructuring and bringing all his companies under a singular brand umbrella will bring operating efficiency, cost control and good corporate governance to the companies and will also allow the group company to focus on future growth opportunities.
The group is also looking to actively expand its bottling capacity to cover the whole of the north and is investing in expanding its Logistics fleet to service the future capacity expansion. The future plans also entail having a larger footprint of its chicken cottage brand and wider reach for its Television channel by going on Satellite.
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