Nigerian billionaire Abdul Samad Rabiu to pocket N806 billion from BUA Foods, Cement

Nigerian billionaire Abdul Samad Rabiu is set to receive N806 billion from his stakes in BUA Foods and BUA Cement, following record earnings and dividend approvals for 2025.

Rabiu, chairman and founder of BUA Group, will collect about N467 billion ($337 million) from his 92.64% stake in BUA Foods, a leading producer of sugar, pasta, rice, flour, and edible oils.

From his 95.78% stake in BUA Cement, Nigeria’s second-largest cement producer, he is expected to receive around N324.4 billion ($237 million).

BUA Foods’ profits rose to N518.7 billion ($374.6 million) on stronger revenue, while BUA Cement’s earnings jumped 379% to N356 billion ($261 million), driven by higher domestic sales and reduced foreign exchange losses.

Combined, the payouts total roughly N806 billion ($574 million), reinforcing Rabiu’s standing among Africa’s wealthiest business leaders.

These dividends highlight how industrial growth is translating into shareholder returns and reflect the resilience of Nigeria’s major manufacturing firms. (Shore Africa)