Africa’s third-richest individual in 2026 is Nigerian billionaire Abdulsamad Rabiu, according to Forbes’ latest ranking of the continent’s wealthiest.
His net worth surged to $11.2 billion, marking the largest wealth increase on the continent this year a 120% jump, or $6.1 billion, compared with 2025.
On the global stage, Rabiu ranks 284th, just behind South African luxury magnate Johann Rupert, whose fortune stands at $16.1 billion.
At the helm of BUA Group, Rabiu oversees a diverse business empire that spans cement, sugar refining, agriculture, and real estate.
A major driver of his wealth has been BUA Cement, whose shares jumped 135% over the past year, outperforming the Nigerian Stock Exchange, which rose 81%, thanks to record corporate profits and government initiatives to increase pension fund equity investments.
Plans announced in January 2026 aim to expand BUA Cement’s capacity through a partnership with a Chinese construction firm. The proposed northern Nigeria facility would raise annual production to 20 million tons, further consolidating the company’s position in the country’s infrastructure-driven economy.
Rabiu also made headlines with the acquisition of a Bombardier Global 8000 in 2025, the world’s fastest civilian aircraft since the Concorde, capable of nonstop flights from Lagos to New York or Dubai to Houston.
Philanthropy remains a central focus, with the Abdul Samad Rabiu Initiative supporting education, healthcare, and social development projects across Africa.
Demonstrating his commitment to employees, he distributed $20.7 million in cash rewards to long-serving BUA Group staff in December 2025, one of the largest employee recognition programs ever executed by a privately held Nigerian company.