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Key Points
- BUA Cement revenue surged 59% to $380 million, driven by strong demand from Nigeria’s booming real estate and infrastructure sectors.
- Net profit jumped over 400% to $118.1 million, highlighting operational strength and growing earnings per share.
- Retained earnings nearly doubled, and equity rose to $372 million as the company expanded its footprint in Nigeria’s construction industry.
Building on a solid start to the year, BUA Cement—Nigeria’s second-largest cement maker led by billionaire industrialist Abdul Samad Rabiu, the country’s third-richest individual—posted stronger-than-expected results for the first half of 2025, with revenue rising to $380 million.
BUA Cement revenue up, profit quadruples
The company’s newly released financial report shows that revenue climbed from N363.94 billion ($237.7 million) in the first half of 2024 to N580.3 billion ($380 million) a year later. This growth was largely supported by steady demand for building materials, as Nigeria’s construction sector continues to benefit from rising investments in both residential and commercial real estate, as well as large-scale infrastructure projects across the country.
Higher sales translated into a major boost in profits. BUA Cement’s profit jumped from N34.25 billion ($22.4 million) in the first half of 2024 to N180.89 billion ($118.1 million) in the same period of 2025. This sharp rise underscores the company’s growing strength in Nigeria’s industrial space, with earnings per share increasing from N1.01 ($0.00066) to N5.34 ($0.0035).
Cement output supports Nigeria’s infrastructure growth
At the center of it all is Abdul Samad Rabiu, Nigeria’s third-richest man, who continues to lead the cement maker. As founder and majority owner of the parent company BUA Group, Rabiu has built BUA Cement into one of the country’s most profitable firms. He holds a 97.66 percent stake in the cement arm, and his net worth stands at around $6 billion, according to Forbes.
BUA Cement’s production capacity remains a strong asset. With the ability to produce 11 million tonnes of cement annually, the company continues to play a vital role in Nigeria’s—and the wider West African region’s—construction industry. In the six months to June 2025, the company’s retained earnings nearly doubled, increasing from N175.7 billion ($114.7 million) at the end of 2024 to N356.59 billion ($232.9 million).
Total assets, equity rise modestly
The company’s balance sheet also showed improvement. Total assets inched up from N1.57 trillion ($1.025 billion) at the end of December 2024 to N1.61 trillion ($1.05 billion) by June 2025. Meanwhile, total equity rose from N388.55 billion ($253.7 million) to N569.44 billion ($372 million), reflecting stronger shareholder value and operational performance.
