Abdulsamad Rabiu's Net Worth Rises by $2.2 Billion

Abdulsamad Rabiu, a Nigerian billionaire industrialist, saw his net worth surge by $2.2 billion in less than 30 days, driven by a strong rally in the shares of BUA Cement PLC and BUA Food PLC. As of March 1, 2026, Rabiu's fortune rose to $14 billion, up from $11.8 billion, according to the Bloomberg Billionaires Index.

The increase in valuation reflects a rise in share prices, with BUA Cement closing at N326.70 per share on March 27, 2026, marking an 83% year-to-date gain from N178.50 at the start of the year. Rabiu owns approximately 98% of BUA Cement, which is Nigeria's second-largest cement producer, and he holds a 93% stake in BUA Food, the country's second-largest pasta producer.

Despite the strong performance of these publicly listed entities, Bloomberg's valuation does not fully capture the financial data due to limited public disclosures. Rabiu's net worth was estimated at $12.3 billion on February 18, 2026, reflecting renewed investor confidence in Nigeria's industrial sector.