Fortune On Fast-Track: Rabiu’s Net Worth Skyrockets By $2.2 Billion In Months

Nigerian billionaire industrialist Abdulsamad Rabiu has remarkably increased his fortune by $2.2 billion in just the first seven months of 2025, largely due to significant share price gains in his flagship companies, BUA Cement Plc and BUA Foods Plc, according to iReporter Online.

At the beginning of the year, Rabiu’s net worth was estimated at about $5.1 billion. As of August 9, 2025, Forbes’ real-time billionaire tracker lists his wealth at $7.3 billion, reflecting a daily gain of $92 million (+1.25%) and placing him 480th on the global rich list, according to iReporter Online.

Rabiu, founder and chairman of the diversified BUA Group with interests spanning cement, sugar refining, and real estate, holds controlling stakes in his group’s publicly listed firms — owning 98.2% of BUA Cement and 95% of BUA Foods.

BUA Cement has been one of the most outstanding performers on the Nigerian Exchange (NGX) this year, closing at N168.60 per share on August 8, 2025, slightly down from N175.00, but having surged 81.3% year-to-date from its January opening price of N93.00.

In the past month alone, the stock gained 82%, ranking fourth among the NGX’s top performers, and over the last three months, it delivered a staggering 101% increase, according to iReporter Online.

Similarly, BUA Foods posted a 38.5% gain year-to-date, closing at N574.90 per share on August 8, up from N415.00 at the start of the year.

Over the last four weeks, its shares rose by 25.3%, driven by a diverse product portfolio including sugar, flour, pasta, and edible oils, and an extensive distribution network throughout Nigeria.

Rabiu’s wealth has also benefited from strategic shareholding moves; in June 2023, he increased his direct ownership in BUA Cement by 56.37%, bringing his total stake to 96.12%, further consolidating his control of the cement giant.

This expansion follows his 2020 merger of his privately owned Obu Cement with the publicly listed Cement Company of Northern Nigeria (CCNN), creating BUA Cement Plc — now one of Africa’s largest cement producers with operations across multiple Nigerian plants.

Born to a Kano-based businessman, Rabiu started his entrepreneurial journey in 1988 with iron, steel, and chemical imports, later transforming BUA Group into one of Nigeria’s largest industrial conglomerates.

Today, BUA Cement and BUA Foods stand among the most valuable companies on the NGX, and their strong performance in 2025 has solidified Abdulsamad Rabiu’s status as one of Africa’s wealthiest individuals, according to iReporter Online.

”IREPORTER REPORTS”