Nigeria’s second-richest man is getting richer fast as he adds $4 billion to his net worth

The most recent data reveal a $4.47 billion year-to-date increase, propelling him to the 197th richest person in the world and 3rd in Africa, a considerable rise that shows both commercial performance and investor confidence in his company.

This represents a significant increase from the beginning of the year, when Rabiu’s net worth was $10.4 billion, placing him the fifth richest in Africa.

At the time, he followed Egypt’s Naguib Sawiris, who had a net worth of $10.7 billion. However, Rabiu’s tremendous wealth acquisition swiftly shifted the ranks.

Early in February, Rabiu surpassed Sawiris to become Africa’s fourth richest man.

At the time, his net worth had risen to $11.3 billion, representing a $1.21 billion year-to-date gain, while Sawiris saw a lower growth of $700 million, although having a similar overall net worth.

Rabiu’s global ranking rose to 302nd place as a result of this change.

Later that month, the Nigerian billionaire’s fortune soared to $12.5 billion, a $2.33 billion rise year to date.

This increase propelled him to the 267th richest person in the world while also cementing his status as Africa’s fourth richest individual.

Rabiu’s climb builds on a significant achievement last year, when he established himself as one of Africa’s top five wealthiest people.

He joined Aliko Dangote as one of the only Black billionaires on the list of the 5 richest people in Africa.

Abdulsamad Rabiu‘s expanding fortune is largely due to the performance of his core firms, particularly BUA Cement and BUA Foods, as well as big moves he has put in place for the year.

In 2025, the company’s revenue increased to ₦1.18 trillion from ₦876 billion in 2024, driven by high demand in Nigeria’s building and infrastructure industries.

In January 2026, Rabiu met with CBMI Construction Ltd. (SINOMA China) to discuss establishing a new manufacturing line in northern Nigeria, which could boost BUA’s cement output to almost 20 million tons per year.

This is hardly the first or last major move BUA stringed together.

The organization, over the last few months, has established several strategic alliances within the food industry to bolster production capabilities and extend its market presence.

In December 2025, BUA Foods executed an agreement with Bühler for the construction of a rice processing plant with a capacity of 32 tonnes per hour.

Earlier in the same year, BUA partnered with Viteral Integrated Milling Systems of Türkiye to develop a 40-tonne-per-hour animal feed mill in Kano State, Nigeria, with a projected completion date in mid-2027.

The facility is strategically located within the region’s primary grain-producing area, ensuring proximity to major livestock markets.

Furthermore, a contract with the Italian firm FAVA is expected to increase annual pasta production by 400,000 metric tons through the implementation of nine long-cut manufacturing lines.(Business Insider)