Abdulsamad Rabiu, Nigeria’s second richest man, and the fourth richest person in Africa, is set to receive a big dividend pay after BUA Cement reported a significant increase in profits for the previous fiscal year.
- Abdulsamad Rabiu, Nigeria’s second richest man, is set to receive nearly N324.38 billion in dividends from BUA Cement’s record profits.
- Rabiu will receive N189.75 billion directly, while N134.6 billion will go to BUA Industries Limited, his holding company.
- BUA Cement, the country’s second-largest cement producer, is planning further expansion, including a new production line to boost capacity to 20 million tons per year.
- Rabiu recently signed an MoU in Abu Dhabi to establish sugar refining and agro-industrial enterprises, with Khalifa Port serving as a hub for Nigerian exports.
Following its great performance in 2025, BUA Cement paid a final dividend of N10 per share.
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As the company’s largest shareholder, Rabiu will get nearly N324.38 billion in final dividends.
Of this sum, as seen on BusinessDay, around N189.75 billion will go directly to him through his personal investment, with a further N134.6 billion going to BUA Industries Limited, the holding company he controls.
The company is currently Nigeria’s second-largest cement maker, trailing only Dangote Cement, and has been significantly expanding its operations throughout the country.
The strong earnings trend appears to be a catalyst for further expansion.
BUA’s plans for expansion
BUA Cement announced in January 2026 that it was considering further capacity expansion after Rabiu met with a Chinese construction partner to propose installing a new production line in northern Nigeria.
Once concluded, the new line will increase the company’s overall cement output capacity to around 20 million tons per year, strengthening its competitive position in Nigeria’s infrastructure-driven economy.
Rabiu’s goals, however, go far beyond cement.
In February, the billionaire signed a historic Memorandum of Understanding in Abu Dhabi with AD Ports Group and MAIR Group to build sugar refining, agro-industrial enterprises, and integrated global logistics.
The deal establishes Khalifa Port, one of the UAE’s most strategically positioned deep-water ports, as a processing and export hub for Nigerian agricultural goods, including sugar.
According to the MoU, BUA Group will work with its Emirati partners to establish facilities in Abu Dhabi to refine Nigerian sugar while also developing agro-industrial infrastructure and organized global logistical channels.
Abdulsamad Rabiu’s net worth change
Rabiu’s growing industrial empire is mirrored in his increasing global wealth ranking.
According to the Bloomberg Billionaires Index, Rabiu and Aliko Dangote are Africa’s top-performing billionaires in the first two months of the year.
At one point in February, the Nigerian billionaire’s net worth reached $12.5 billion, signifying a $2.33 billion increase year to date.
With that increase, he momentarily became the 267th richest person in the world and the fourth richest on the continent.
He began the year at $10.4 billion, ranked fifth in Africa behind Egyptian businessman Naguib Sawiris, who had $10.7 billion.
Rabiu’s fortune is currently valued at roughly $11.8 billion, indicating some market volatility but still representing significant growth since the beginning of the year.
