Isyaku Abdulsamad “Khalifa” Rabiu, son of Nigerian billionaire industrialist Abdul Samad Rabiu, has seen the market value of his holding in BUA Foods Plc climb above $300 million, driven by a steady rise in the company’s share price on the Nigerian Exchange (NGX).

Khalifa Rabiu holds 473,628,201 shares in BUA Foods, representing a 2.63 percent stake. Recent market data tracked by Shore.Africa shows the value of his holding increased from N377.3 billion ($271.2 million) on March 6 to N458 billion ($335.4 million). The gain of roughly N80 billion ($64 million) reflects the rise in the company’s share price over the period.

Abdul Samad Rabiu and his son Khalifa Rabiu, who holds a significant stake in BUA Foods Plc.

67-day rally lifts valuation

BUA Foods shares have risen more than 21 percent in the past 67 days, moving from N796.6 ($0.573) on March 6 to N967 ($0.71). That performance has lifted market capitalization to N17.41 trillion ($12.74 billion), making it Nigeria’s second most valuable listed company.

Khalifa’s father, Abdul Samad Rabiu, remains the dominant shareholder with a 92.64 percent stake, valued at about N16.13 trillion ($11.8 billion) based on current market levels. The family’s combined exposure underscores the scale of their interest in the fast-growing food business.

Abdul Samad Rabiu, President Bola Ahmed Tinubu, and Khalifa Rabiu.

BUA Foods’ profit rises despite revenue decline

BUA Foods operates across sugar refining, flour milling, pasta production, rice processing, and edible oils. Its subsidiaries include BUA Sugar Refinery, BUA Oil Mills, IRS Flour, and IRS Pasta, giving the company control across sourcing, production, and distribution.

For the three months ended March 31, 2026, the company reported profit of $103.4 million, up from $99.2 million a year earlier. Gross profit rose to N175.6 billion ($127.7 million) from N160.9 billion ($116.9 million), supported by tighter cost control even as revenue softened.

However, revenue fell to N394.7 billion ($286.5 million) from N442.1 billion ($321 million), reflecting softer sales in sugar and flour segments. The company offset part of that decline by reducing production costs, which dropped to N219 billion ($159.1 million) from N281.1 billion ($204.1 million), helped by its backward integration strategy.

BUA Foods semolina product, part of the company’s food processing range.

Global procurement role expands oversight

Khalifa, who was appointed Chief Officer for Global Procurement and Strategic Operations in January 2026, now oversees sourcing and supply chain efficiency across the group. His role has become more visible as the company works to manage input costs and maintain margins.

Beyond capital gains, Khalifa is also set to receive a dividend of N13.2 billion ($9.6 million), scheduled for electronic payment on July 15. His father will receive the largest share of the payout, estimated at N467 billion ($337.3 million), reflecting his controlling stake.