• Sunday, June 16, 2024
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How Abdullahi Rano moved from selling groundnut oil to owning big oil company worth $3bn

How Abdullahi Rano moved from selling groundnut oil to owning big oil company worth $3bn

When it comes to the oil sector in Nigeria, one name stands out: A. A Rano. The rise of Alhaji Auwalu Abdullahi Rano from humble beginnings to leading a multibillion-dollar enterprise as the founder and CEO of AA Rano Nigeria Limited shows the power of hard work and perseverance.

Born on 7 February 1974 in Lausu town, Kano State, the entrepreneur started his business journey by selling ice blocks, groundnut oil, and other local items. In 1994, he ventured into selling and distributing petroleum products on a small scale.

As a young entrepreneur with big dreams, he wanted to become a leader in the downstream sector of Nigeria’s petroleum industry, aiming for steady growth in this challenging field.

Rano’s dedication and business skills quickly paid off. By 1996, just two years after starting his petroleum business, he built his first retail outlet in Kano. This early success showed he was on the path to great achievements. In 2002, he officially registered his company, A. A Rano Nigeria Limited, marking his serious commitment to the industry.

Read also: Women in energy, oil and gas advocate inclusion for economic growth

Under Rano’s leadership, the company expanded rapidly. Starting as a single petroleum marketer without its own vehicle, A.A Rano grew into a huge enterprise. Today, the company has over 600 trucks, a 56-million-litre tank farm in Lagos, 120 retail outlets and filling stations across the country, LPG terminals, and a recently acquired vessel, M.T. LAUSAU. This impressive growth highlights Rano’s ability to see opportunities and act quickly.

Rano’s ventures go beyond selling petroleum. The company includes AA Rano Terminal, AA Rano Road Haulage, Rano Lubricant, Rano Air, Lausu Marine and Logistics, RanoGaz, and a state-of-the-art Liquefied Petroleum Gas (LPG) terminal. Rano has also invested in a rice milling company, showing his ability to succeed in different industries.

Rano’s businesses are not only a testament to his business skills but also his vision for overall industrial growth. The RanoGaz LPG terminal is especially important as it supports Nigeria’s energy sector by providing cleaner fuel alternatives. His investments in logistics, air transport, and rice milling reflect a smart approach to addressing various economic needs in Nigeria.

The oil magnate also gave back to society as he established the AA Rano Foundation, a non-governmental and non-profit organisation that carries out community development projects in areas such as health, education, water provision, and empowerment initiatives for youth and women.

Rano’s journey shows that with determination, smart thinking, and a commitment to excellence, great success is possible. He started by selling groundnut oil and ice blocks on a small scale and built a multibillion-dollar enterprise, inspiring many aspiring entrepreneurs in Nigeria and beyond.