Africa’s Fourth-Richest Man Cashes in on BUA Cement’s Record Earnings
Abdulsamad Rabiu, Nigeria’s second-richest citizen and the fourth wealthiest in Africa, is set to collect nearly ₦324 billion in dividends following a standout performance by BUA Cement in the 2025 fiscal year.
The payout includes ₦189.75 billion directed to Rabiu personally, with an additional ₦134.6 billion channelled through BUA Industries Limited, his holding company. The record dividends follow the company’s strong financial showing, which included a final dividend of ₦10 per share.
Cement Expansion to Reinforce Market Position
As Nigeria’s second-largest cement producer after Dangote Cement, BUA Cement is accelerating expansion plans. In January 2026, Rabiu met with a Chinese construction partner to explore a new production line in northern Nigeria. Once operational, the line is expected to increase the company’s annual output to 20 million tons, consolidating its competitive edge in the nation’s infrastructure-driven economy.
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Diversifying Beyond Cement
Rabiu’s ambitions extend beyond cement. In February 2026, he signed a landmark Memorandum of Understanding in Abu Dhabi with AD Ports Group and MAIR Group to develop sugar refining and agro-industrial enterprises. The initiative leverages Khalifa Port as a processing and export hub for Nigerian sugar and other agricultural products, creating integrated global logistics channels.
The MoU outlines plans for refining Nigerian sugar in Abu Dhabi while simultaneously establishing agro-industrial infrastructure, signalling Rabiu’s drive to position BUA Group as a global player in both industrial and agricultural sectors.
Rising Net Worth Reflects Industrial Growth
Abdulsamad Rabiu’s wealth has mirrored the expansion of his industrial empire. The Bloomberg Billionaires Index reports that his net worth briefly hit $12.5 billion in February 2026, up $2.33 billion year-to-date. Although his fortune currently stands at approximately $11.8 billion, Rabiu remains one of Africa’s top-performing billionaires alongside Aliko Dangote.
The dividend payout and continued business expansion underscore Rabiu’s dominance in Nigeria’s industrial landscape, as he leverages both domestic and international ventures to strengthen his portfolio and Africa’s industrial capacity.
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