BUA Chairman Abdul Samad Rabiu Rises to Africa’s Second Richest Man

Chairman of BUA Cement, Abdul Samad Rabiu, has risen to become Africa’s second-richest man as of May 7, 2026, according to Bloomberg’s Billionaires Index.

A check by TVC News on Thursday on the website shows that Rabiu’s net worth is reported at $19.1 billion, placing him in second position after Aliko Dangote.

Rabiu is the founder and chairman of BUA Group, a conglomerate in Nigeria. Its Lagos-based subsidiary, BUA Cement, is the country’s second-largest cement producer and had revenue of 1.2 trillion Nigerian naira ($776 million) in 2025.

Another publicly traded subsidiary, BUA Foods, is the second-largest pasta producer in Nigeria.

According to Business Insider, Rabiu’s net worth is positioned at $19.0 billion after an impressive year-to-date increase of $8.88 billion.

Rabiu now trails only Aliko Dangote, surpassing South Africa’s Johann Rupert, whose net worth dropped to $17.7 billion.

Rabiu’s global ranking climbed to 138th as his wealth surged significantly this year. A strong financial performance by BUA Foods, which recorded a 14% rise in Q1 2026 after-tax earnings, was a key driver behind his wealth growth.

His net worth was valued at $15.9 billion last week, up $5.78 billion year to date, underlining his meteoric rise.