Nigerian billionaire Abdul Samad Rabiu’s net worth hits $14 billion

Nigerian billionaire Abdul Samad Rabiu has seen his net worth rise to $14 billion, according to Forbes, as gains in his cement and food businesses continued into 2026. The increase of about $4.5 billion since the start of the year lifts him further up the ranking of Africa’s wealthiest individuals, supported mainly by stronger valuations in his listed companies.

Rabiu, who founded BUA Group, holds major stakes in two of Nigeria’s largest listed manufacturers: BUA Cement and BUA Foods. His 95.78 percent interest in BUA Cement and 92.64 percent stake in BUA Foods remain the main drivers of his overall wealth. Together, the two companies sit at the center of his industrial holdings, spanning cement production, sugar refining, flour milling, pasta, rice, and edible oils. 

BUA Cement drives valuation gains

At the beginning of 2026, Forbes estimated his net worth at $9.5 billion. The latest figure of $14 billion reflects a steady rise in the market value of his listed investments, particularly BUA Cement, which has recorded stronger trading activity on the Nigerian Exchange. The latest update places him ahead of several regional peers in Africa’s billionaire rankings.

His gains follow a strong 2025, when his wealth increased from $5.1 billion at the start of the year to $9.5 billion by year-end. That period was supported by broad gains in both BUA Cement and BUA Foods. In 2026, however, BUA Cement has taken a major role in driving returns.

Year-to-date, BUA Cement shares have risen 87.7 percent, while BUA Foods is up 11.4 percent. The movement in share prices has pushed the estimated value of Rabiu’s holdings to about $8.16 billion in BUA Cement and $10.9 billion in BUA Foods. His reported liabilities have also increased to around $3.18 billion over the same period.

Rabiu’s N806 billion dividends from BUA Foods, BUA Cement

Beyond share price gains, Rabiu is also expected to receive significant dividend income from both companies. Based on current recommendations, he is projected to earn about N467 billion ($337.3 million) from BUA Foods and N324.4 billion ($237 million) from BUA Cement, bringing total expected payouts to roughly N806 billion ($574.3 million).

The dividend outlook follows improved earnings across both businesses. BUA Foods reported a 2025 profit of N518.7 billion ($374.6 million), up from N266 billion ($192.1 million) a year earlier, supported by stronger sales across its core product lines. BUA Cement posted a profit of N356 billion ($261 million), compared with N73.9 billion ($54.2 million) in 2024.