Nigerian billionaire Abdul Samad Rabiu is now Africa's 3rd richest man
Abdul Samad Rabiu is now Africa's third richest person. His $11.2 billion fortune surged 120% in a year, powered by BUA Cement's blistering stock rally.
BUA Cement
Nigerian billionaire Abdulsamad Rabiu's BUA Cement shines as most profitable Cement maker in 2025
BUA Cement Plc, under the leadership of Abdulsamad Rabiu, has become Nigeria's most profitable cement maker in 2025, with a net profit margin of 30.43%, profit after tax surging 381.7% to N356 billion, and revenue breaking the trillion-naira barrier for the first tim
Abdul Samad Rabiu set to pocket N324 billion dividend as BUA Cement profit surges
Abdul Samad Rabiu will collect more than N324 billion in dividends as BUA Cement profit climbed nearly fivefold in 2025.
Nigerian billionaire Abdul Samad Rabiu loses $301 million in debt revaluation
Abdul Samad Rabiu’s net worth falls $301 million in 24 hours after debt revaluation, trimming his fortune to $7.5 billion.
Nigerian billionaire Abdul Samad Rabiu sees $400 million decline in net worth
Abdul Samad Rabiu’s net worth drops $400 million following a decline in BUA Cement shares.
BUA Cement, owned by Nigerian billionaire Abdul Samad, posts $380 million in half-year revenue
BUA Cement posts $380 million in revenue and $118 million in profit, fueled by Nigeria’s construction boom and strong leadership from Abdul Samad Rabiu.
Abdul Samad Rabiu’s BUA Cement posts $62 million profit in Q1 2025
Pre-tax profit for the first quarter of 2025 surged to $62 million, marking a significant increase from the same period last year.
Cement firm owned by Nigeria’s third-richest man posts $49.3 million profit in 2024
The cement manufacturer recorded a 6.4 percent rise in profit despite surging finance costs and operational expenses.
BUA Cement Q3 revenue rises 91 percent amid higher costs, nine-month profit dips
Nigeria’s BUA Cement posted strong Q3 sales growth, but rising input costs trimmed nine-month profits.
BUA Chairman Abdul Samad Rabiu blames middlemen for high cement prices
Rabiu explained that middlemen inflated prices, preventing savings from reaching consumers, impacting families and fueling a nationwide housing crisis.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement to fund $78.9-million Lokoja-Benin road project
The financing will be facilitated through Nigeria’s tax credit scheme, designed to attract private sector participation in infrastructure development.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement reports $118.8-million Q1 revenue
The company showcased robust revenue growth, surging past $110 million, yet faced a notable decline in profit due to escalating costs and currency devaluation.
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 billionaire’s cement firm commences operations at multimillion-dollar plant line
BUA Cement has solidified its position as Nigeria’s second-largest cement producer.