Abdul Samad Rabiu, founder and chairman of BUA Group, has recorded the largest wealth increase among Africa’s billionaires after his net worth jumped by $6.1 billion within a year.
According to the latest ranking by Forbes released on Monday, Rabiu’s fortune rose by about 120 percent, climbing from $5.1 billion in April 2025 to $11.2 billion. The sharp increase propelled him from sixth to third position on the list of Africa’s richest individuals.
The growth in his wealth was largely driven by the strong performance of BUA Cement, whose share value surged by roughly 135 percent over the past year.
Forbes noted that Rabiu owns 98.2 percent of BUA Cement, which trades on the Nigerian stock market, significantly boosting the value of his holdings as the company’s share price climbed.
In addition, the billionaire businessman holds 95 percent ownership in BUA Foods, a publicly listed food conglomerate involved in sugar, flour, pasta, and other consumer products.
Rabiu built his fortune through strategic investments in cement production, sugar refining, and other large-scale industrial ventures, positioning BUA Group as one of Nigeria’s leading manufacturing conglomerates.
