Abdul Samad Rabiu
- Net worth $17 billion
- Birthday August 4, 1960
- Status -
- Country Nigeria
- Source(-s) of wealth Businessman, Philanthropist
How much is Abdul Samad Rabiu Worth? Abdul Samad Rabiu Net Worth in 2026
Abdul Samad Rabiu’s net worth is estimated at $17 billion as of November 2026. He founded BUA Group and owns about 98% of BUA Cement and about 93% of BUA Foods, both listed in Lagos. Because so little of either company trades, a few percent of shares changing hands sets the price on a fortune of more than ?22 trillion.
| Net worth | $17 billion (our estimate, range $11 billion to $19 billion) |
|---|---|
| Born | August 4, 1960, Kano, Nigeria |
| Age | 66 |
| Country | Nigeria |
| Known for | Founder and chairman of BUA Group |
| Main income sources | BUA Cement and BUA Foods shares, dividends, other BUA Group businesses |
How much is Abdul Samad Rabiu worth in 2026?
Our estimate is $17 billion, at ?1,349 to the dollar, the rate on November 10, 2026. Almost all of it is two listed stakes priced at the November 9, 2026 close, which makes the arithmetic simple and the answer jumpy: the stocks have thin free floats, so prices can move a long way on small trades, and the naira can move the dollar total by billions. We have not applied any discount for that, which is the main reason our figure sits above several public estimates.
Two Lagos stocks and a remainder
| Source | Our estimate | What it rests on |
|---|---|---|
| About 98% of BUA Cement | $7.31 billion | 33.07 billion shares, 97.66% of the company (19.61 billion direct, 13.46 billion through BUA Industries) at the end of 2025, at the ?298 close on November 9, 2026. That is ?9.85 trillion, at ?1,349 per dollar. |
| About 93% of BUA Foods | $9.40 billion | 16.67 billion shares, 92.63% of the company (16.17 billion direct, 0.50 billion through BUA Industries), at ?760.60. That is ?12.68 trillion, same rate. |
| Other BUA Group businesses and cash | $500 million | Our assumption for the unlisted parts of the group and cash after his giving, which includes a $100 million a year pledge through ASR Africa. No values are published. |
| Total | $17 billion | $17.21 billion before rounding. |
A 2% float holding up $7 billion
BUA Cement closed at ?298 on November 9, 2026, for a market value of ?10.09 trillion, market data shows. BUA Foods closed at ?760.60, worth ?13.69 trillion (market data). He owns about 98% of the cement company, held directly and through related entities, and roughly 93% of the food company, Nairametrics reported in May 2026. Prime Business Africa gave the exact counts at the end of 2025: 33.07 billion cement shares (97.66%) and 16.67 billion food shares (92.63%), part of them held through BUA Industries.
Here is the catch, by our calculation. With 98% in his hands, only about 2.3% of BUA Cement, some 790 million shares, is left for everyone else. A 10% move in that small float’s price changes the value of his cement stake by roughly $730 million. That is why his number swings so hard from month to month.
From commodity trader to cement and sugar
He set up BUA International in 1988 to trade commodities, opened flour mills in Lagos and Kano in 2005, commissioned a sugar refinery in 2008 and bought control of a listed cement maker in Northern Nigeria in 2009, per his biography. A $900 million cement plant in Edo State followed in early 2015. His father, Isyaku Rabiu, was a major industrialist in the 1970s and 1980s.
In 2021 he founded ASR Africa, committing $100 million a year to causes across the continent.
Why other estimates disagree
Public estimates are billions of dollars apart. Some discount the thin float, some use older prices or a weaker naira, and some count slightly different stakes, since filings put them anywhere from about 93% to 98%.
What would move the figure
A share sale that widens the free float would test whether the prices hold. The naira is the other lever: at ?1,500 to the dollar instead of ?1,349, our total would fall by about $1.7 billion with no change in the share prices.
Abdul Samad Rabiu net worth FAQ
What is Abdul Samad Rabiu’s net worth?
About $17 billion as of November 2026 by our estimate, at ?1,349 to the dollar. Nearly all of it is his stakes in BUA Cement and BUA Foods.
How much of BUA Cement does Abdul Samad Rabiu own?
About 98%, held directly and through related entities. At the November 9, 2026 close that stake was worth about ?9.85 trillion, or $7.31 billion.
How much is his BUA Foods stake worth?
About $9.40 billion by our calculation: 16.67 billion shares, roughly 93% of the company, at ?760.60.
What is ASR Africa?
A foundation he set up in 2021 that commits $100 million a year to causes across Africa.
How old is Abdul Samad Rabiu?
66. He was born on August 4, 1960, in Kano, Nigeria.
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How we estimate net worth
Our estimates are based on public reporting, company valuations, and deal and earnings figures all compiled in an internal valuation model. They are approximate, and figures change over time as new information emerges.
Last updated: November 2026.