Table of Contents
Key Points
- Abdul Samad Rabiu’s net worth hits $6 billion, driven by rising valuations in BUA Cement and BUA Foods.
- BUA Cement shares surge 45% in 2025, lifting Rabiu’s stake to nearly $3 billion amid strong construction demand.
- BUA Cement profit jumps fivefold to $118.1 million, as first-half revenue climbs to $380 million from $237.7 million.
Nigerian billionaire Abdul Samad Rabiu has seen his wealth climb to $6 billion, thanks to the continued growth of his cement and food businesses.
The boost further strengthens his position as the country’s third-richest individual and places him among Africa’s ten richest people.
According to Forbes, Rabiu, who leads BUA Group—one of Africa’s largest industrial conglomerates—has added $900 million to his net worth since the start of 2025.
His fortune has grown from $5.1 billion on Jan. 1 to $6 billion as of the time of this report.
Rabiu’s holdings cross $8 billion mark
The gain is tied largely to the value of his major holdings: a 97.66-percent stake in BUA Cement and 92.63 percent in BUA Foods.
His stake in BUA Foods alone is now valued at N7.65 trillion (about $5 billion), reflecting a 10-percent increase in the company’s share price so far this year.
BUA Foods spans key sectors including sugar refining, oil milling, flour, pasta, and rice production—making it a core part of BUA Group’s diversified operations.
Meanwhile, BUA Cement has delivered even stronger growth. Its shares have risen 45 percent this year, pushing Rabiu’s stake close to $3 billion.
The rally comes as investors respond positively to the company’s strong performance, supported by steady demand for cement and other building materials.
Nigeria’s construction sector has remained active, driven by ongoing investments in housing, commercial developments, and large-scale infrastructure projects.
BUA Cement profit jumps fivefold
BUA Cement’s revenue surged from N363.94 billion ($237.7 million) in the first half of 2024 to N580.3 billion ($380 million) over the same period in 2025.
The growth highlights the continued strength of the construction market and BUA’s ability to meet rising demand.
That revenue boost translated into sharply higher profits. Net income jumped from N34.25 billion ($22.4 million) to N180.89 billion ($118.1 million), marking a fivefold increase year-over-year.
Earnings per share rose accordingly—from N1.01 ($0.00066) to N5.34 ($0.0035)—a clear sign of the company’s growing influence in Nigeria’s industrial economy.
