Billionaire Surge: Abdulsamad Rabiu’s Wealth Rockets to $12.3bln

Billionaire industrialist Abdulsamad Rabiu saw his net worth surge to an estimated $12.3 billion by February 18, 2026, driven by a wave of investor confidence in his diversified empire. 

This wealth explosion is largely credited to the stellar performance of BUA Foods Plc, alongside the resilient market positions of his cement and consumer goods divisions on the Nigerian Exchange (NGX).

Widely respected in commercial circles as “Mr. Talk and Do” because of his track record of turning plans into reality, Rabiu serves as founder and head of the BUA Group.

The vast organization operates across multiple sectors, including cement manufacturing, food production, major construction projects, and diverse industrial activities. 

In the latest Bloomberg Billionaires Index, the industrial leader has moved up to become Africa’s fourth-richest individual with a net worth put at $12.3 billion. 

This achievement edges him ahead of Egyptian business figure Naguib Sawiris, whose wealth growth this year has been more modest, and slots Rabiu approximately 302nd on the global list of wealthiest people. 

When 2026 began, his estimated assets stood at around $10.4 billion, which had placed him fifth across the continent. 

His steady climb since then stems from impressive financial outcomes at his lead company BUA Foods Plc together with other key industrial holdings.

Bloomberg figures reveal a year-to-date wealth increase of about $1.21 billion for Rabiu, far outpacing Sawiris’s roughly $700 million gain in the same stretch. 

BUA Foods played a central role in the surge, announcing a striking 91 percent leap in profit after tax for the full 2025 financial year. 

Net earnings climbed to N507.73 billion from N265.99 billion the year before, while overall sales expanded 18 percent to hit N1.80 trillion during the period. 

The strong numbers demonstrate successful scaling of output facilities and rising customer demand for the firm’s wide assortment of items, such as sugar processing, flour production, pasta making, rice handling, and assorted packaged food products.

BUA Foods has also sealed several important collaborations to boost its manufacturing efficiency and extend its market presence, including major upcoming developments for large rice milling operations and livestock feed plants located in Northern Nigeria.