KEY POINTS
- Abdul Samad Rabiu is now worth $11.3 billion.
- In 2025, BUA Foods’ profits more than doubled.
- Abdul Samad Rabiu’s net worth is growing because of the rise of industry.
According to the Bloomberg Billionaires Index, Nigerian businessman Abdul Samad Rabiu is now the fourth richest person in Africa, with a net worth of $11.3 billion. The most recent update puts Rabiu ahead of Egyptian telecom investor Naguib Sawiris since his returns this year have been bigger. Rabiu’s wealth has grown by around $1.21 billion since January, while Sawiris’s has grown by $700 million. Rabiu is perhaps the 302nd richest person in the world, according to Bloomberg.
Rabiu was the fifth richest person in Africa at the beginning of the year, with a net worth of $10.4 billion. His rise is part of a trend that started last year when he and another Nigerian billionaire Aliko Dangote became the first two people from Africa to be among the top five richest people in the world.
BUA Foods Earnings Drive Wealth
Abdul Samad Rabiu’s net worth has gone risen since his industrial business, namely BUA Foods Plc, has been doing well. BUA Foods made a profit of 507.73 billion naira after taxes in the 2025 fiscal year. This is up from 265.99 billion naira the year before. In 2024, revenue went up from 1.53 trillion naira to 1.80 trillion naira.
The gains were made possible by more manufacturing capacity, better supply chain management, and wider distribution across Nigeria and regional export markets. The corporation works in sugar refining, wheat milling, pasta and rice processing, and other areas that have seen growth thanks to increased domestic demand and laws that encourage people to buy goods made in the country instead of importing them.
Expansion Plans Support Ranking
Abdul Samad Rabiu’s net worth has also grown since people keep investing in cement and food production. Rabiu talked to CBMI Construction Ltd., a subsidiary of SINOMA China, about developing a new manufacturing line in northern Nigeria as part of his work in the cement sector. If finished, the project could raise BUA Cement’s overall capacity to almost 20 million tons per year.
Billionaires Africa also reports that BUA Foods has made deals with Bühler in Switzerland to develop a rice processing plant that can handle 32 tons of rice an hour and with Viteral Integrated Milling Systems in Turkey to build an animal feed mill that can handle 40 tons of animal feed an hour in Kano. Both projects are anticipated to be finished by mid-2027. An further deal with Italy’s FAVA will build nine long-cut pasta machines, which will increase production by 400,000 metric tonnes per year.
Analysts argue that diverse manufacturing organizations that manage supply chains are making money as African economies seek for more local production. This is good for Abdul Samad Rabiu’s net worth and his place in the Bloomberg ranking.
