Abdulsamad Rabiu Becomes Africa’s Second-Richest Man as Wealth Hits $19bn
Abdulsamad Rabiu Becomes Africa’s Second-Richest Man as Wealth Hits $19bn
Abdulsamad Rabiu Becomes Africa’s Second-Richest Man as Wealth Hits $19bn
Nigerian billionaire industrialist Abdulsamad Rabiu has risen to become Africa’s second-richest individual, with his net worth climbing to $19.0 billion following a significant year-to-date increase of $8.88 billion.
Rabiu now ranks behind only Aliko Dangote, Africa’s richest man, overtaking South African billionaire Johann Rupert, whose net worth has declined to $17.7 billion.
The surge in Rabiu’s wealth has also boosted his global standing, moving him up to 138th position among the world’s richest individuals.
Analysts attribute the sharp rise largely to the strong performance of BUA Foods, one of his flagship companies. The firm recorded a 14 percent increase in earnings after tax in the first quarter of 2026, reflecting robust growth across its operations.
Rabiu’s latest milestone underscores the growing influence of Nigerian business leaders in Africa’s economic landscape, particularly in sectors such as food production, manufacturing, and infrastructure.
Abdulsamad Rabiu Becomes Africa’s Second-Richest Man as Wealth Hits $19bn
