Rabiu Overtakes Egyptian Billionaire in Forbes Wealthiest List, Now Africa's 4th Richest Man
- Nigerian billionaire Abdulsamad Rabiu’s net worth has moved him up to fourth place among Africa's richest, rising from sixth
- Rabiu overtook Egyptian billionaire Nassef Sawiris, who began the year with a net worth of $9 billion
- There are four Nigerian billionaires whose net worth was featured on the Forbes billionaire list
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigerian billionaire Rabiu Abdulsamad has climbed two spots on the latest Forbes African billionaires list.
Rabiu, the founder and chairman of BUA Group, now boasts a net worth of $8.9 billion overtaking Egyptian businessman Nassef Sawiris to become the fourth richest man in Africa.
According to Forbes, Sawiris has a net worth of $8.5 billion as of November 3, 2025, $300 million less than Rabiu
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Rabiu's rising world profile
Forbes revealed that the 65-year-old industrialist Abdulsamad Rabiu has enjoyed a remarkable and consistent rise in net worth in 2025.
This growth is largely driven by the strong performance of his companies, particularly BUA Cement and BUA Foods, which have continued to record impressive results on the Nigerian Exchange.
Rabiu began the year with a net worth of $5.1 billion, ranking as the third-richest man in Nigeria and sixth in Africa.
So far, he has added over $3 billion to his fortune, helping him overtake Mike Adenuga to become the second richest man in Nigeria and the fourth richest in Africa.
Rabiu’s rise now places him behind only Aliko Dangote, Africa’s wealthiest man with a fortune of $26.3 billion, while Johann Rupert of South Africa ($15.3 billion) and Nicky Oppenheimer ($10.5 billion) occupy the second and third positions respectively.
With the pace at which Rabiu’s wealth is growing, there is growing expectation that he could soon move up to become the third richest person in Africa.
Source: Facebook
Dangote's wealth on the rise
Dangote has also enjoyed a remarkable 2025, his net worth according to Forbes has increased by over $3 billion .
He now ranks 86th globally and remain the richest man in Africa with a wide margin.
Dangote has a vast interests in cement, sugar, and oil refining. But it is the Dangote Refinery that have further expand his wealth and there is talk of him becoming the first African to have a net worth of $100 billion.
Other Nigerian in the Forbes billionaire list include Mike Adenuga, and Femi Otedola.
Adenuga, 72, founder of Globacom and a major player in the oil and gas sector, has an estimated net worth of $6.4 billion, ranking 605th globally.
While Femi Otedola, 62, sits at 2,320th with an estimated wealth of $1.6 billion.
Together, the four Nigerian billionaires boast a combined net worth of more than $43 billion.
Dangote refinery set to become world’s largest
Earlier, Legit.ng reported that the Dangote Refinery is set to become the world’s largest refinery within three years.
Dangote revealed that a second single-train unit will be constructed to expand the refinery from its current 650,000 barrels per day (bpd). capacity to 1.4 million bpd.
Dangote said the expansion would address Africa’s growing fuel demand, reduce dependence on imports, and create 65,000 jobs.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
