Abdul Samad Rabiu’s BUA Cement posts $62 million profit in Q1 2025
Pre-tax profit for the first quarter of 2025 surged to $62 million, marking a significant increase from the same period last year.
Abdul Samad Rabiu
Abdul Samad Rabiu signs deal for palm oil refinery
The facility will support sustainable practices in agriculture and manufacturing.
Nigerian billionaire Abdul Samad Rabiu to pocket $143 million dividend from BUA Foods
This dividend, which will be paid on September 25, is the lion’s share of the proposed N234 billion ($152.43 million) payout for the year.
10 lessons from African billionaires on achieving business growth
Billionaires.Africa shares 10 key lessons from African billionaires, practical insights to help entrepreneurs overcome challenges, seize opportunities, and build lasting businesses.
How Africa’s billionaires lost billions: 5 costly investment blunders
Even billionaires make costly mistakes—overleveraging, overexposure, disruption, misjudgment, and poor due diligence can erase fortunes in months.
Naira slide cuts $500 million from Nigeria’s third-richest man’s wealth in 24 hours
The sharp decline highlights the volatility of Nigeria’s currency and its direct impact on the fortunes of the country’s wealthiest individuals.
Abdul Samad Rabiu, Nigeria’s third-richest man, donates $3.3 million at ex-President’s book launch
His $3.3 million donation, was the second-largest of the evening, surpassed only by Aliko Dangote’s contribution.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods reports $182.7 million profit in 2024
The company’s profit more than doubled, reaching over $180 million, underscoring its growing influence and market presence in Nigeria’s food sector.
BUA Group clarifies refinery progress amid misleading reports
BUA Group dismisses claims of its Akwa Ibom refinery being 90 percent complete, emphasizing steady progress and reaffirming its commitment to energy security.
Abdul Samad Rabiu faces $1.6 billion loss in BUA Cement as naira weakens
This underscores Nigerian investors' broader financial challenges amid currency volatility and economic uncertainty.
BUA launches 2,400-ton gypsum plaster production facility in Nigeria
The state-of-the-art plant underscores BUA Group’s growing influence in Africa’s industrial and manufacturing sectors.
BUA Group partners with Starlinger for packaging production facility with six hundred million-bag capacity
BUA Group strengthens control over production and supply chain with new facility for polypropylene packaging.
Naira's slide cuts Abdul Samad Rabiu's wealth by $3.6 billion
This sharp drop has pushed him from fifth to sixth place on the African rich list.
ASR Africa begins construction of $147,691 corrosion research center at FUPRE
ASR Africa begins construction of a $147,691 corrosion research center at FUPRE, enhancing Nigeria’s oil and gas sector with cutting-edge research and industry collaboration.
BUA Industries secures $200-million facility from Afreximbank to drive expansion and industrial growth in Nigeria
BUA Industries secures $200 million from Afreximbank to accelerate expansion, boosting Nigeria’s industrial growth and self-sufficiency in key sectors.
BUA Foods posts $647 million in revenue in nine months, doubles earnings
BUA Foods Plc, one of Nigeria's top food producers, reports a 104-percent increase in revenue to N1.07 trillion ($647 million) for the nine months ending September 2024, driven by strong demand for sugar, flour, and pasta amid challenging economic conditions.