Nigerian billionaire Abdulsamad Rabiu, the chairman of BUA Group, recently shared a video of himself enjoying a luxury speedboat ride in Lagos. The boat sported a cheeky phrase: “Catch me if you can. From Lagos waves to beach rides.” This playful caption hints at Rabiu’s newfound openness about his luxurious lifestyle.
Rabiu has been increasingly active on social media in 2025, showcasing his business trips and casual moments at his Lagos office. This shift in his public presence comes as his wealth has surged dramatically. As of December 2025, Forbes estimates his net worth at $8.5 billion, making him the fourth richest person in Africa. Just a year earlier, he was valued at around $5.1 billion.
Analysts suggest that this growth is tied to positive economic trends and BUA Group’s strong performance in key sectors. For instance, BUA Group has signed a deal with the Swiss firm Bühler to install a rice processing line capable of handling 32 tonnes per hour, aimed at enhancing its food production capabilities.
Earlier this year, Rabiu acquired a Bombardier Global 8000 private jet, which has sparked discussions about its role as both a symbol of status and a business tool. This aligns with BUA Group’s expansion across multiple industries, including cement, food, and energy.
Furthermore, the company has been in the spotlight for its employee recognition programs. Recently, BUA Group announced a substantial N30 billion reward package for 1,768 employees to honor their years of service. The rewards included five employees earning N1 billion each. This approach highlights Rabiu’s commitment to employee welfare amid tough economic conditions in Nigeria.
Founded in 1988, BUA Group has grown into one of Nigeria’s largest conglomerates. Its subsidiary, BUA Foods Plc, is currently the largest company by market capitalization on the Nigerian Exchange. In a time when corporate governance and employee welfare are under scrutiny, Rabiu’s values of loyalty and commitment shine through in his company’s culture.
This evolution in Rabiu’s public persona and the growth of BUA Group represents the changing landscape of Nigerian business and wealth in the 21st century.
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