Nigerian billionaire Abdul Samad Rabiu to pocket $237 million dividend from BUA Cement

Nigerian billionaire Abdul Samad Rabiu is poised to receive one of the largest dividend payouts in the country’s industrial sector after BUA Cement posted a sharp rise in profit for 2025, underscoring a strong year for one of Nigeria’s biggest manufacturers.

Rabiu, chairman of BUA Cement and founder of BUA Group, will pocket N324.4 billion ($237 million) from the company’s latest dividend declaration. This follows a year in which earnings climbed steadily, reflecting stronger sales and lower foreign exchange losses.

Profit surge lifts shareholder returns

In a notice to shareholders, BUA Cement said it will pay a final dividend of N10 ($0.0073) per share, translating to a total payout of N338.6 billion ($248.2 million), subject to withholding tax. The dividend will be paid on May 21, 2026. That compares with the N2.05 ($0.0015) per share distributed a year earlier, which amounted to N69.4 billion ($50.9 million).

Rabiu owns 95.78 percent of the company, equivalent to 32,437,680,294 shares. His stake gives him the “lion’s share” of the declared dividend, reinforcing his position as the largest beneficiary. The payout comes after BUA Cement reported a 379 percent jump in profit, from N73.9 billion ($54.2 million) in 2024 to N356 billion ($261 million) in 2025. The improvement was driven largely by higher revenue and a sharp reduction in foreign exchange losses.

Bagged cement powers profit surge

Revenue increased 34.5 percent to N1.179 trillion ($864.3 million) from N876.5 billion ($642.5 million) a year earlier. Bagged cement remained the main source of income, generating N1.17 trillion ($857.7 million), up from N874.5 billion ($641.1 million). Bulk cement sales also expanded, rising to N7.56 billion ($5.54 million) from N1.97 billion ($1.44 million).

For the period, domestic sales accounted for N1.16 trillion ($850.4 million) of total revenue. Export revenue, though still modest, rose to N14.8 billion ($10.84 million) from N631.64 million ($463 million), even as the company operates without cement plants outside Nigeria. Foreign exchange losses narrowed to N9.7 billion ($7.11 million), down from N92.1 billion ($67.5 million) the previous year, easing pressure on the bottom line.

Robust growth boosts assets, equity, retained earnings

The stronger impressive financial performance lifted the balance sheet. Total assets rose to N1.86 trillion ($1.36 billion) from N1.57 trillion ($1.15 billion), while equity increased to N672.9 billion ($493.27 million) from N388.55 billion ($284.8 million). Retained earnings also grew to N462.3 billion ($338.9 million) from N175.7 billion ($128.8 million).