Abdulsamad Rabiu, Founder and Chairman of BUA Group, has recorded a major surge in personal wealth, with his net worth estimated at $12.3 billion as of February 18, 2026, according to the Bloomberg Billionaires Index.
The latest valuation reflects renewed investor confidence in Rabiu’s listed assets, particularly strong price movements in food and cement stocks, alongside sustained performance across consumer staples on the Nigerian Exchange.
Rabiu’s fortune increased by an estimated $915 million in a single trading day, representing an 8.1 per cent jump. His year-to-date wealth growth now stands at about $2.13 billion, translating to a 21 per cent increase within weeks.
A significant driver of this rise is BUA Foods, where Rabiu holds a controlling stake of roughly 93 per cent. The company, one of Nigeria’s leading pasta and food producers, has benefited from strong earnings momentum and rising demand for essential food products.
Cement operations remain the largest pillar of Rabiu’s wealth. BUA Cement, Nigeria’s second-largest cement producer, recorded revenue of ₦876 billion in 2024, reinforcing its strategic importance to the country’s infrastructure and construction sector. Financial filings show Rabiu owns about 98 per cent of the cement company, directly and through related entities.
Market analysts note that several privately held businesses within the BUA portfolio are not fully reflected in current wealth calculations due to limited disclosures. Bloomberg’s estimates also factor in liabilities, taxes, insider transactions and philanthropic commitments, resulting in a conservative valuation of Rabiu’s net worth.
Beyond financial markets, Rabiu has continued to draw attention for workforce-focused initiatives. In December 2025, BUA Group announced cash rewards totalling about $20.7 million for long-serving employees, one of the largest staff reward programmes ever undertaken by a privately owned Nigerian company. The announcement was made during the BUA Night of Excellence Long Service Awards held at Eko Hotel & Suites.
The group is also preparing for long-term leadership continuity. In January 2026, BUA Foods appointed Isyaku Addulsamad Rabiu, popularly known as Khalifa Rabiu, as Chief Officer for Global Procurement and Strategic Operations, strengthening its executive structure as expansion accelerates across sugar, flour, rice and edible oils.
Rabiu, born in Kano in 1960, comes from a prominent business lineage. His late father, Isyaku Rabiu, founded Isyaku Rabiu & Sons. After studying Economics at Capital University in the United States, Rabiu returned to Nigeria in his mid-twenties and later established BUA Group in 1988.
The conglomerate’s transformation into a manufacturing heavyweight gained momentum with the acquisition of Cement Company of Northern Nigeria in 2009. Subsequent stock market listings of BUA Cement in 2020 and BUA Foods in 2022 cemented Rabiu’s position among Africa’s wealthiest industrialists, a status further reinforced by his latest ranking on the global billionaire index.
