Nigerian billionaire industrialist Abdulsamad Rabiu has seen his fortune grow by an impressive $2.2 billion in the first seven months of 2025, fueled by significant share price gains in his flagship companies, BUA Cement Plc and BUA Foods Plc.
At the start of 2025, Abdulsamad Rabiu’s net worth was estimated at $5.1 billion. According to Forbes real-time billionaire tracker, his wealth stood at $7.3 billion as of August 9, 2025, a $92 million daily gain (+1.25%) placing him 480th among the world’s richest individuals.
Abdulsamad Rabiu, founder and chairman of BUA Group, oversees a diversified conglomerate with operations in cement production, sugar refining, and real estate. He maintains controlling stakes in his listed entities, holding 98.2% of BUA Cement and 95% of BUA Foods.
BUA Cement’s Impressive 2025 Rally
BUA Cement has been one of the top-performing stocks on the Nigerian Exchange (NGX) this year. As of Friday, August 8, 2025, its shares closed at ₦168.60, a slight 3.7% dip from the previous close of ₦175.00. Despite this, the stock has surged 81.3% year-to-date from its opening price of ₦93.00 in January.
Over the past month alone, BUA Cement’s share value has climbed 82%, ranking as the fourth-best performing stock on the NGX in that period. In the last three months, it has delivered a staggering 101% gain, highlighting strong investor demand.
BUA Foods’ Strong Performance
BUA Foods has also experienced substantial growth in 2025. Its shares closed at ₦574.90 on August 8, compared to ₦415.00 at the beginning of the year, an increase of 38.5% year-to-date. In the past four weeks, the stock has risen by 25.3%, securing a spot among the NGX’s top gainers.
The company’s success is attributed to its diverse product range including sugar, flour, pasta, and edible oils and its extensive distribution network across Nigeria.
Strategic Moves Boosting Rabiu’s Fortune
Rabiu’s rising net worth has been aided by strategic shareholding decisions. In June 2023, he boosted his direct ownership in BUA Cement by 56.37%, increasing his stake to 96.12% and further consolidating his control.
This came after a major corporate restructuring in early 2020, when he merged privately-owned Obu Cement with the publicly listed Cement Company of Northern Nigeria (CCNN) to form BUA Cement Plc. The move positioned the company as one of Africa’s leading cement producers, with multiple plants operating in Nigeria.
From Humble Beginnings to Billionaire Status
Abdulsamad Rabiu was born into a business-oriented family in Kano, Rabiu inherited land from his father and began his entrepreneurial journey in 1988, importing iron, steel, and chemicals. Over the decades, he transformed BUA Group into a multi-billion-dollar industrial powerhouse.
Today, BUA Cement and BUA Foods rank among the most valuable companies on the NGX, and their strong 2025 performance has reinforced Rabiu’s standing as one of Africa’s wealthiest individuals.
