Nigerian billionaire Abdul Samad Rabiu to pocket N806 billion from BUA Foods, Cement

Nigerian billionaire Abdul Samad Rabiu is set for a substantial payout from his holdings in two of Nigeria’s largest listed manufacturers, following strong earnings and generous dividend recommendations at BUA Foods and BUA Cement. The combined distributions could deliver about N806 billion to Rabiu, reinforcing his position among Africa’s wealthiest business leaders.

Abdul Samad Rabiu to receive N806 billion dividends

Rabiu, chairman and founder of BUA Group, holds controlling stakes in the two listed firms. Based on recommended dividends, he is set to receive about N467 billion ($337.3 million) from his 92.64 percent stake in BUA Foods, which operates in sugar refining, flour milling, pasta production, rice processing and edible oils. He is also expected to collect about N324.4 billion ($237 million) from his 95.78 percent stake in BUA Cement, Nigeria’s second-largest cement producer, under proposed dividend distributions for the financial year.

Combined, the payouts bring his expected dividend income to roughly N806 billion ($574.3 million), underscoring the strong performance of his core businesses. The projected earnings come after both companies reported improved financial results and recommended substantial dividends to shareholders. BUA Foods proposed a dividend totaling about N504 billion ($364 million), while BUA Cement recommended N338.6 billion ($248.2 million).

BUA Foods, BUA Cement profits rise on revenue growth

BUA Foods reported a profit of N518.7 billion ($374.6 million) for 2025, up from N266 billion ($192.1 million) a year earlier, supported by higher sales of sugar, pasta and rice. Revenue increased to N1.77 trillion ($1.27 billion) from N1.52 trillion ($1.1 billion). Total assets rose to N1.39 trillion ($1 billion) as of Dec. 31, 2025, compared with N1.095 trillion ($791 million) at end-2024. Retained earnings reached N705.4 billion ($510 million), up from N421 billion ($304 million), reflecting stronger operating performance and earnings growth.

BUA Cement also reported profit of N356 billion ($261 million) in 2025, up 379 percent from N73.9 billion ($54.2 million) in 2024, supported by higher revenue and lower foreign exchange losses. Revenue rose 34.5 percent to N1.179 trillion ($864.3 million) from N876.5 billion. Bagged cement generated N1.17 trillion, while bulk cement sales increased to N7.56 billion from N1.97 billion. Domestic sales totaled N1.16 trillion, as export revenue climbed to N14.8 billion. Foreign exchange losses narrowed to N9.7 billion from N92.1 billion year earlier.

Industrial profits drive shareholder returns

The sizable dividends come as Rabiu’s wealth continues to climb alongside the performance of his listed companies. Estimates from Forbes place his net worth at about $12.8 billion, ranking him among the richest individuals in Africa. The Bloomberg Billionaires Index values his fortune higher, at roughly $14.4 billion, also placing him among the world’s wealthiest business figures.

The expected payout underscores how earnings growth at Nigeria’s major industrial firms is translating into returns for shareholders. For Rabiu, whose interests span cement, food processing and infrastructure, the distributions highlight the strength of his core businesses at a time when investors remain focused on profitability and balance sheet resilience.