Uchechi Okporie
Mar 14, 2026
3 min read
BY UCHECHI OKPORIE
Nigerian industrialist Abdulsamad Rabiu has risen to become the third-richest person in Africa, following a major surge in the value of his business empire. The billionaire entrepreneur, founder of BUA Group, saw his fortune climb significantly as shares in his key companies gained momentum in the market.
Rabiu’s wealth growth has been largely driven by strong performance from BUA Foods and BUA Cement, two publicly traded firms that form the backbone of his manufacturing empire. Rising profits, expanding production capacity, and investor confidence have pushed the companies’ market value higher, boosting the billionaire’s net worth.
Related Posts
Africa’s sky race takes off as airline giants unite to drive tourism boom
Africa’s aviation sector is gaining fresh global momentum as leading carriers, including E...
Togo unveils new national development roadmap, launches nationwide public consultations
The government of Togo has announced the launch of a new national development roadmap aime...
NASS Members Jittery as Governors Move to Dictate Candidates, Block Rivals, Hijack APC Tickets
The All Progressives Congress (APC) has quietly altered its 2027 election timetable after...
Fresh Crisis Rocks Nigeria's Opposition Party as Kogi PDP Explodes Over Natasha's Dispute
Fresh tensions have erupted inside Nigeria’s main opposition party, the Peoples Democratic...
With this surge, Rabiu now ranks behind only Aliko Dangote, Africa’s richest man, and Johann Rupert in the continent’s wealth rankings. The shift highlights the growing influence of Nigeria’s manufacturing sector in Africa’s economic landscape.
Analysts say Rabiu’s rapid rise reflects increasing investor interest in consumer goods and industrial production across Africa. His companies continue to expand operations in cement, food processing, and agriculture, positioning the BUA Group as one of the fastest-growing industrial conglomerates on the continent.
Uchechi Okporie
Apr 28, 2026
FCMB Group has announced a deliberate and responsible approach to adopting artificial intelligence, positioning itself as one of Africa’s leading financial institutions embracing the future of banking technology.
Uchechi Okporie
Apr 27, 2026
Russian Africa Corps forces have confirmed they have withdrawn from the northern Malian city of Kidal following coordinated attacks by separatist fighters and Islamist militants.
Uchechi Okporie
Apr 27, 2026
Good governance experts have stressed that proper protocol systems are playing a major role in improving efficiency and boosting service delivery across institutions in Africa.
Uchechi Okporie
Apr 27, 2026
Across parts of Africa, a troubling pattern has emerged: periodic waves of hostility directed at Nigerians living and working in other African countries. In South Africa, it has manifested in violent xenophobic attacks; in Ghana, tensions have surfaced through business closures and regulatory crackdowns. The rhetoric is familiar—“they should go back home.” But beneath that language lies a far more complex and uncomfortable reality than simple dislike of a nationality. This moment is not just about Nigerians; it is about economics, identity, governance failure, and the unfinished project of African unity.
Uchechi Okporie
Apr 25, 2026
Many people across Africa and around the world often ignore common health warning signs such as constant tiredness, bloating, weak immunity and frequent illness.
Uchechi Okporie
Apr 25, 2026
Malaria is emerging as a growing global health threat after new concerns revealed the disease is becoming resistant to both medicines and insecticides, raising fears across Africa and other vulnerable regions.
Uchechi Okporie
Apr 25, 2026
The United States has a nominal GDP of roughly $27–28 trillion, while the entire continent of Africa produces about $3.0–3.2 trillion. That means the U.S. economy is about eight to nine times larger than Africa’s combined output, even though Africa consists of over 50 countries.
Uchechi Okporie
Apr 25, 2026
The uncomfortable truth is that sheer population size does not create prosperity. If it did, Africa would already dominate the global economy. With roughly 1.4 billion people, more than four times the population of the United States, Africa should, on paper, be an economic superpower. Instead, its total output lags far behind. This is not a mystery; it is a structural reality that many prefer to avoid confronting directly.
Apr 28, 2026
Uchechi Okporie
Apr 25, 2026
Uchechi Okporie
Apr 27, 2026
Admin User
Apr 27, 2026
Uchechi Okporie
Apr 28, 2026
Admin User
Apr 25, 2026
Uchechi Okporie
Apr 25, 2026
Uchechi Okporie
Apr 26, 2026
Uchechi Okporie
Apr 27, 2026
Uchechi Okporie
Apr 26, 2026
Uchechi Okporie
Apr 26, 2026
Uchechi Okporie
May 01, 2026
Uchechi Okporie
May 01, 2026
Uchechi Okporie
May 01, 2026
Uchechi Okporie
May 01, 2026
Uchechi Okporie
May 01, 2026
Uchechi Okporie
Apr 30, 2026
Uchechi Okporie
Apr 30, 2026
Admin User
Apr 30, 2026
Uchechi Okporie
Apr 30, 2026
Uchechi Okporie
Apr 30, 2026
Uchechi Okporie
Apr 30, 2026
Uchechi Okporie