Nigerian billionaire Abdulsamad Rabiu has climbed to Africa’s third-richest place, based on Forbes’ 2026 rating of the continent’s wealthiest.
His internet price soared to $11.2 billion, marking the most important wealth achieve in Africa this 12 months — a 120% bounce, or $6.1 billion, from 2025.
Globally, Rabiu now ranks 284th richest, simply behind South African luxurious items tycoon Johann Rupert, who’s price $16.1 billion.
Rabiu moved from the sixth to the third richest particular person in Africa, surpassing outstanding billionaires similar to Naguib Sawiris, Mike Adenuga, Nathan Kirsh, Nassef Sawiris, and Nicky Oppenheimer.
Rabiu, chairman and founding father of BUA Group, oversees a diversified conglomerate with pursuits in cement, sugar refining, agriculture, and actual property.
BUA Cement Fuels Fortune
His flagship asset, BUA Cement, has pushed a lot of his fortune, with shares rising 135% over the previous 12 months, outpacing the Nigerian Stock Exchange, which climbed 81% amid document company earnings and a authorities push for elevated pension fund fairness investments.
In January 2026, BUA Cement introduced plans to increase capability, following Rabiu’s discussions with a Chinese development associate. The proposed new manufacturing line in northern Nigeria would elevate complete annual output to twenty million tons, additional cementing the corporate’s place in Nigeria’s infrastructure-driven financial system.
Rabiu capped 2025 with the acquisition of a Bombardier Global 8000, the world’s quickest civilian plane for the reason that Concorde, able to flying continuous from Lagos to New York or Dubai to Houston.
Known for his philanthropy, Rabiu helps schooling, healthcare, and social improvement throughout Africa via the Abdul Samad Rabiu Initiative.
In December 2025, he distributed $20.7 million in money rewards to long-serving BUA Group staff, one of many largest worker reward applications ever by a privately held Nigerian firm.
