Abdulsamad Rabiu Gains New Position Among Global Billionaires as Dangote Nears $32bn in Net Worth
- Abdulsamad Rabiu becomes Africa’s fourth richest, overtaking Naguib Sawiris with a net worth of $11.3 billion
- BUA Foods' profit surged 91%, significantly boosting Rabiu’s wealth amid Nigeria's industrial growth
- Nigeria’s billionaires reflect resilience and ambition, solidifying their influence in the evolving African business landscape
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerian industrialist Abdulsamad Rabiu has moved up the ranks of global wealth, overtaking Egyptian telecoms magnate Naguib Sawiris to become Africa’s fourth richest individual, according to the Bloomberg Billionaires Index.
Rabiu’s net worth now stands at $11.3 billion, reflecting a year-to-date gain of $1.21 billion.
Source: Getty Images
Although Sawiris holds the same overall fortune, his comparatively lower gain of $700 million this year places him just behind the Nigerian businessman in continental rankings.
Globally, Rabiu is now ranked the 302nd wealthiest person in the world.
At the beginning of the year, Rabiu’s fortune was estimated at $10.4 billion, positioning him fifth in Africa, behind Sawiris, who then had $10.7 billion.
The latest reshuffle signals another milestone in Rabiu’s steady rise among the world’s ultra-wealthy.
Dangote edges closer to $32bn
While Rabiu celebrates his upward climb, Africa’s richest man, Aliko Dangote, continues to consolidate his dominance.
Dangote’s net worth is approaching $32 billion, reinforcing his position not only as Africa’s wealthiest individual but also as one of the most influential industrialists globally.
The surge in wealth among Nigeria’s top billionaires underscores the growing clout of the country’s manufacturing and industrial sectors, even amid economic headwinds.
BUA Foods drives wealth surge
A major driver of Rabiu’s rising fortune is the impressive performance of BUA Foods Plc.
According to a report by Business Insider, the company posted a remarkable 91 per cent increase in profit after tax for the 2025 fiscal year, climbing to N507.73 billion from N265.99 billion in the previous year.
Revenue also expanded by 18 per cent to N1.80 trillion, up from N1.53 trillion in 2024, based on unaudited results for the year ended December 31, 2025.
The strong earnings growth has significantly boosted investor confidence and market valuation, directly impacting Rabiu’s net worth.
Expansion plans signal long-term strategy
Rabiu’s business trajectory reflects an aggressive expansion strategy. Recently, he held talks with CBMI Construction Co., Ltd. to explore establishing a new manufacturing line in northern Nigeria.
If completed, the project could lift BUA Cement’s production capacity to nearly 20 million tonnes per year.
In the food segment, BUA Foods has sealed strategic partnerships to deepen capacity and market reach. In December, the company signed an agreement with Bühler Group to construct a 32-tonne-per-hour rice processing facility.
Earlier in 2025, BUA partnered with Viteral Integrated Milling Systems to build a 40-tonne-per-hour animal feed mill in Kano State.
The facility, located in the region’s grain-producing hub near major livestock markets, is expected to be completed by mid-2027.
Additionally, a deal with Italian firm Fava S.p.A. will expand annual pasta production by 400,000 metric tonnes through the installation of nine new long-cut production lines.
Nigeria’s billionaire momentum
Rabiu’s ascent and Dangote’s expanding fortune reflect a broader narrative of resilience and ambition within Nigeria’s private sector.
Strategic investments in food processing, cement production, and large-scale manufacturing continue to drive wealth creation at the highest levels.
Source: UGC
As Africa’s business landscape evolves, Nigeria’s industrial heavyweights are not only retaining their continental influence but are also strengthening their footprint on the global stage.
Aliko Dangote tops African billionaires' list again
Legit.ng earlier reported that Africa’s richest individuals set a new benchmark in 2025 as their combined fortunes climbed past the $100 billion threshold, a symbolic first for the continent.
According to fresh estimates, Africa is now home to 22 billionaires with an aggregate net worth of about $105 billion, a sharp jump from $82.4 billion and 20 billionaires recorded the previous year.
The acceleration roughly tracks the 22% upswing in major global stock indices over the same period, reflecting broad investor optimism and recovering commodity prices.
Source: Legit.ng
