BUA Group has officially dismissed reports claiming that its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70 per cent stake in Nigeria Premier Football League (NPFL) side Kano Pillars, describing the reports as false and inaccurate.
In a statement released on Monday, the company confirmed that neither the organisation nor its chairman had made any proposal to acquire shares in the Kano-based club. “Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70 per cent stake in Kano Pillars Football Club,” the statement read.
BUA Group urged members of the public and the media to disregard the claims and rely solely on information released through its official communication channels.
Background of the Speculation
The clarification follows widespread reports that Mr Rabiu, one of Africa’s wealthiest businessmen, had offered approximately $1.1 million to acquire a controlling stake in the four-time Nigerian champions. The reports alleged that the proposed deal would allow the Kano State Government to retain a minority stake while handing operational control of the club to the industrial conglomerate.
The speculation had generated considerable excitement among supporters and football stakeholders, particularly amid growing calls for increased private-sector investment in Nigerian football clubs. However, BUA’s statement has effectively ended speculation surrounding the reported acquisition bid.
BUA Group’s Business Profile
Founded in 1988 by Mr Rabiu, BUA Group is one of Africa’s leading manufacturing, mining, food, and infrastructure conglomerates, with interests spanning cement production, mining, construction, real estate, and other sectors. The company has a significant presence in Nigeria and across the continent.
Neither the Kano State Government nor Kano Pillars had officially commented on the reported acquisition before BUA issued its denial. The club, which has won the Nigerian league four times, remains under state ownership.
Implications for Nigerian Football
The denial comes at a time when there is increasing debate about the role of private investment in Nigerian football. Many stakeholders have called for more corporate involvement to improve the financial stability and competitiveness of local clubs. However, BUA’s swift rejection of the bid suggests that such investment may not be forthcoming from the conglomerate in the near term.
Observers note that while private investment could bring much-needed resources, it also raises questions about governance and the balance of control between state governments and private entities. The Kano State Government has yet to make any official statement regarding the matter.
