LA SPEZIA — Abdul Samad Rabiu, the billionaire chairman of BUA Group, is set to join the upper echelons of the global maritime elite. The industrialist recently teased the commencement of a massive 60-meter superyacht project with the prestigious Italian shipyard, Baglietto.
In a succinct social media post captioned “60 metres in the making,” Rabiu signaled that the custom build is officially underway, marking a significant intersection of Nigerian industrial wealth and European bespoke luxury.
Engineering a Floating Masterpiece
A 60-meter (approximately 197-foot) vessel is no small feat of engineering. It sits at the top tier of Baglietto’s portfolio—a shipyard renowned in La Spezia for blending high-performance naval architecture with “charter-level” luxury.
Industry experts note that a project of this scale typically involves:
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Multi-Year Construction: Depending on the yard’s capacity, these builds can take three to five years from initial design to delivery.
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Custom Naval Architecture: The yacht will likely feature bespoke interiors and engineering tailored specifically to Rabiu’s requirements for long-range cruising.
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Corporate and Leisure Utility: While a status symbol, such vessels often serve as “floating boardrooms” for corporate hosting and high-level international networking.
The “Billionaire’s Portfolio”
Rabiu’s foray into the superyacht market follows the massive success of the BUA Group, a conglomerate that has become a cornerstone of the West African economy. With dominant stakes in cement, sugar, and infrastructure, the project reflects how Africa’s leading magnates are increasingly translating domestic industrial success into high-profile international assets.
By commissioning a Baglietto, Rabiu joins a very exclusive circle of Nigerian tycoons who favor the craftsmanship of Italian and Northern European shipyards.
A Rising Trend Among Africa’s Elite
The move highlights a growing trend among Africa’s High-Net-Worth Individuals (HNWIs). For many, these assets are more than just displays of wealth; they are functional investments in lifestyle and global influence.
Observers point out that the engagement with European luxury markets underscores the strengthening ties between Africa’s industrial leaders and global design hubs. When completed, the 60-meter vessel will be a testament to the “prestige and performance” that has become a hallmark of Rabiu’s broader business ventures.
