Billionaire businessman Abdul Samad Rabiu has recorded an increase of $2.2 billion in his net worth in less than 30 days, driven by gains in shares of his companies, BUA Cement and BUA Foods.
Data from the Bloomberg Billionaires Index shows that his net worth rose from $11.8 billion as of March 1, to $14 billion at the time of reporting.
The increase followed a rise in the share prices of the companies listed on the Nigerian Exchange.
BUA Cement closed at N326.70 per share on March 27.
The stock has gained 83 percent since the start of the year, rising from N178.50.
It also recorded a 49 percent increase over the past four weeks.
Mr Rabiu owns about 98 percent of BUA Cement, according to the company’s 2025 financial report.
BUA Foods also contributed to the increase.
Its shares closed at N798.00 on March 27.
Between December 24, 2025 and March 27, the company recorded a trading volume of 18 million shares valued at N13.8 billion.
Abdul Samad Rabiu holds about 93 percent stake in BUA Foods, based on its 2025 financial disclosures.
Other businesses under the BUA Group are not included in the Bloomberg valuation due to limited public data.
Earlier in February, his net worth was estimated at $12.3 billion.
Within the group, his son Isyaku Rabiu holds the position of chief officer for global procurement and strategic operations at BUA Foods.
BUA Cement was listed on the Nigerian Exchange in January 2020, while BUA Foods was listed in January 2022.
