Nigerian billionaire Abdul Samad Rabiu’s food business records $261-million revenue in Q1 2024
Revenue growth was fueled by a significant increase in sugar sales. the strong performance expands its lead as Nigeria’s top food conglomerate.
Abdul Samad Rabiu
Nigerian mogul Abdul Samad Rabiu loses $1.2 billion as naira weakens against U.S. dollar
Ranked as Nigeria’s third-richest person and Africa’s sixth by Forbes, Rabiu has recently experienced a notable drop in his wealth figures.
Nigerian billionaire Abdul Samad Rabiu to receive $79.4 million from food business
The $79.4-million dividend which will be paid electronically into the bank accounts of Abdul Samad Rabiu and his son from the group’s 2023 earnings of $210.48 million, is part of a proposed cash distribution by the board of directors.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods to distribute $79.5-million dividend
The substantial dividend underscores the company’s dedication to rewarding its shareholders following an outstanding performance in 2023.
Nigerian billionaire Abdul Samad Rabiu leads educational advancement with ASR Africa Initiative
ASR Africa has initiated the construction of a state-of-the-art administrative block and conference room at Al-Qalam University in Katsina State, Nigeria.
Nigerian billionaire Abdul Samad Rabiu’s cement company reports $284.4-million revenue in 2023
The recently published financial report highlights a remarkable 27.4-percent surge in revenue, rising from $223.2 million in 2022 to $284.4 million in 2023.
Nigerian president appoints billionaire business leaders to Economic Advisory Committee
In the face of economic challenges, Nigerian billionaire Aliko Dangote emphasizes the need for swift and decisive action from both the public and private sectors.
Nigeria’s second-richest man declares 50-percent salary increase across his group
This highlights Rabiu’s dedication to supporting his entire workforce during tough economic times, acknowledging the challenges faced by his employees.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods invests $200 million in sugar estate
The conglomerate is majority-owned by Nigeria’s second-richest man, Abdul Samad Rabiu, and his son, Isyaku Naziru Rabiu.
Food business of Nigeria’s second-richest man faces uncertainty amid FX rate volatility
BUA Foods Managing Director Ayodele Abioye unveils BUA Foods’ struggle with FX rate instability.
Naira devaluation costs Nigerian billionaire Abdul Samad Rabiu $2.7 billion
According to Forbes, Rabiu’s net worth, which soared to $8.4 billion in January 2024, dropped to $5.7 billion.
Nigeria’s second-richest man Abdul Samad Rabiu gains $4.18 billion in wealth this year
With a year-to-date wealth gain of $4.18 billion, pushing his net worth to $8.27 billion, he ranks among the top 20 wealth gainers globally in January 2024.
Nigeria’s second-richest man Abdul Samad Rabiu makes $1.1 billion within 24 hours
Rising shares propel Rabiu’s stake in cement and food ventures to a combined $11.91-billion valuation.
Abdul Samad Rabiu overtakes Mike Adenuga as Nigeria’s second-richest man
Rabiu’s $7.2-billion fortune places him second in Nigeria, fifth in Africa, and 343rd globally on Forbes’ billionaires list.
Mike Adenuga becomes Nigeria’s second-richest man as Forbes revalues Globacom
His net worth now stands at $7.4 billion — solidifying his position as a top figure in Africa’s business landscape.
Nigeria’s second-richest man Abdul Samad Rabiu lost $1.8 billion in 2023
Starting 2023 with a net worth of $7.5 billion, Rabiu faced a $1.8-billion wealth decline due to the Central Bank’s implementation of a free float policy.