Lower than a month after his conglomerate, BUA Group, handed out a uncommon N30 billion ($20.7 million) cash award to long-serving employees, Nigerian billionaire Abdul Samad Rabiu is seeing his private wealth climb once more. His fortune, now estimated at about $9.7 billion, has moved him inside hanging distance of the $10 billion mark, underscoring the dimensions of a enterprise empire constructed throughout cement, meals processing, sugar refining and infrastructure.
The most recent rise follows a rare yr for Rabiu. In the beginning of 2025, his web price stood close to $5.1 billion. By Dec. 31, it had reached $9.5 billion, pushed largely by sharp positive aspects within the share costs of BUA Cement and BUA Meals, the group’s two publicly listed firms. Early buying and selling within the new yr has added one other $200 million, in response to Forbes’ real-time billionaires data, lifting his wealth to $9.7 billion throughout the first week of January.
BUA Cement, Meals enhance Rabiu
A lot of that improve displays renewed energy in BUA Cement. Shares of the corporate rose 2.5 % not too long ago, extending a rally that has seen the inventory achieve about 96 % over the previous yr. BUA Cement produces 11 million tonnes yearly and is Nigeria’s second-largest cement maker, supplying a market formed by regular development demand throughout West Africa. Rabiu’s 97.66 % stake within the firm is now valued at N5.9 trillion ($4.1 billion).
BUA Meals has been an excellent bigger driver. Shares of the meals producer are up 92.5 % year-on-year, lifting the worth of Rabiu’s 92.63 % stake to N13.32 trillion ($9.28 billion). The corporate operates throughout sugar refining, flour, pasta, edible oils and rice, making it one of the essential meals suppliers in Nigeria. On the Nigerian Alternate, Rabiu now ranks as the only largest investor by worth, forward of Aliko Dangote. Nonetheless, liabilities estimated at $2.98 billion by Bloomberg proceed to weigh on his web price, thus protecting it under $10 billion.
Progress shared as employees win massive
The rise in Rabiu’s fortune has unfolded alongside robust working outcomes. BUA Foods reported profit of N405.2 billion ($283.5 million) for the 9 months ended Sept. 30, 2025, greater than double the determine a yr earlier. Income climbed to N1.42 trillion ($987 million), helped by larger gross sales volumes and tighter price administration regardless of inflation and provide chain pressures. BUA Cement also posted sharp gains. Revenue rose to N289.86 billion ($200 million) for a similar interval, in contrast with N48.97 billion a yr earlier, pushed by larger costs and regular demand. Income elevated to N858.7 billion ($590 million), whereas property and fairness expanded.
Towards that backdrop, the worker awards stood out. Five employees received N1 billion ($691,000) each, whereas one other 5 took dwelling N500 million ($345,000). A number of others have been awarded N100 million ($69,000) and the remainder of the recipients obtained quantities starting from N5 million ($3,450) to N20 million ($13,810). By spreading the rewards throughout job ranges, the corporate highlighted the workforce behind its development, at the same time as its founder edges nearer to considered one of Africa’s most unique monetary golf equipment.
