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
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.
Cement empire of Nigeria’s second-richest man surpasses $420 million in 9M revenue
This underscores the financial success of BUA Cement under Rabiu, a prominent industrialist who has solidified his standing as Nigeria’s second-richest man.
Net worth of Nigeria’s second-richest man Abdul Samad Rabiu hits $7 billion
Bloomberg estimates Rabiu’s net worth slightly lower at $5.91 billion, considering approximately $2.98 billion in miscellaneous liabilities.
Nigerian billionaire Abdul Samad Rabiu to bring cement prices below $4.5 per bag by 2024
Under the leadership of Rabiu, BUA Cement has firmly established itself as Nigeria’s second-largest cement producer.
Nigerian billionaire Abdul Samad Rabiu’s cement company slashes cement prices
This decision comes just one month after Rabiu expressed optimism regarding the completion of two new cement factories by the year’s end.
Nigeria’s second-richest man Abdul Samad Rabiu rejoins world’s 500 richest billionaires
This surge in wealth has firmly positioned Rabiu as the 500th richest individual globally, just behind the 499th-ranked Charles Dolan.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement plans to reduce cement prices
Rabiu’s statement follows a strategic agreement between BUA Cement Plc and Sinoma International Engineering Co., Ltd.
Abdul Samad Rabiu’s BUA Cement partners with Sinoma to expand cement plant
BUA Cement is a leading cement maker led by Nigeria’s second-richest man, Abdul Samad Rabiu.
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