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BUA Chairman Abdul Samad Rabiu Records Africa’s Biggest Wealth Surge, Net Worth Hits $11.2bn
BUA Chairman Abdul Samad Rabiu Tops Africa’s Wealth Gains in the 2026 Forbes Rankings as His Fortune Jumps 120% to $11.2 Billion, Rising to 3rd Place; Aliko Dangote Remains No.1
Billionaire Industrialist, Philantropist, and Chairman of BUA Group, Abdul Samad Rabiu, has emerged as Africa’s biggest wealth gainer in the 2026 Africa’s Richest People ranking published by Forbes, after his net worth rose sharply over the past year.
According to the latest Forbes list, Rabiu’s wealth surged 120 percent to $11.2 billion, representing the largest increase recorded among the continent’s billionaires in the latest ranking. The jump moves Rabiu, who is Nigerian, to third place among Africa’s richest individuals, up from sixth position a year ago.
The rise in Rabiu’s fortune was driven largely by the strong performance of BUA Cement, his flagship publicly listed company, whose shares surged by 135 percent over the past year. The rally significantly outpaced gains in the broader Nigerian Exchange, which has itself recorded strong growth amid improving investor confidence.
Forbes estimates Rabiu’s net worth at $11.2 billion, placing him behind luxury goods tycoon Johann Rupert, whose fortune is estimated at $16.1 billion, and Africa’s richest man Aliko Dangote, who retains the top position with an estimated $28.5 billion.
Rabiu’s rise underscores the growing influence of Nigeria’s industrial sector and the expanding footprint of BUA Group, which has built major operations across cement manufacturing, food processing, sugar refining, infrastructure, mining and energy.
The latest Forbes ranking also highlights a broader surge in wealth across Africa’s billionaire class. The continent’s 23 billionaires now hold a combined net worth of $126.7 billion, representing a 21 percent increase from the previous year, as major equity markets rallied and regional currencies stabilised.
Nigeria remains one of the continent’s leading centres of billionaire wealth, accounting for four individuals on the list, including Dangote, Rabiu, telecommunications magnate Mike Adenuga, and energy investor Femi Otedola.
Forbes said the 2026 ranking was calculated using stock prices and exchange rates as of March 1, 2026, with privately held companies valued using comparable industry benchmarks.
Rabiu’s leap in the ranking reflects not only the strong performance of BUA Cement but also the broader momentum of Nigeria’s capital markets and the continued expansion of large scale industrial enterprises across Africa’s largest economy.
Analysts say the development signals growing investor confidence in African manufacturing and infrastructure driven businesses, sectors that are increasingly central to the continent’s economic transformation.
celebrity radar - gossips
Tinubu’s ‘Renewed Hope’ Agenda: General Buratai Remains Loyal, Rebuffs Misinformation – Engr Hassan
Tinubu’s ‘Renewed Hope’ Agenda: General Buratai Remains Loyal, Rebuffs Misinformation – Engr Hassan
Supporters of former Chief of Army Staff, Tukur Yusuf Buratai, have dismissed claims circulating on social media alleging that the retired army general is working against the administration of President Bola Ahmed Tinubu.
In a statement issued on Friday by Engr. Hassan Mohammed, Sarkin Yakin Garkuwan Keffi, the former Nigerian Ambassador to the Republic of Benin was described as a committed statesman who remains loyal to constituted authority and dedicated to Nigeria’s unity and stability.
The statement noted that Buratai, who served as Chief of Army Staff and later as ambassador, had throughout his career demonstrated discipline, professionalism and respect for constitutional authority.
According to Mohammed, the retired lieutenant general has consistently expressed support for the Tinubu administration and its Renewed Hope agenda, particularly in the areas of national security, youth empowerment and national cohesion.
He said, “Gen. Buratai remains a committed Nigerian statesman who has always placed national interest above personal politics.”
The statement further described reports linking Buratai to alleged anti-government activities as “baseless, politically motivated and aimed at creating unnecessary division.”
Mohammed urged Nigerians to disregard what he called attempts at blackmail and misinformation, insisting that Buratai’s public record and engagements reflect his continued support for the current administration.
“His actions and public record speak louder than online rumours,” the statement added.
The supporters also called on the public to remain focused on issues that promote national development and unity rather than social media speculation.
celebrity radar - gossips
General Buratai Backs Son’s Political Ambition, Calls For Greater Youth Inclusion In Governance
General Buratai Backs Son’s Political Ambition, Calls For Greater Youth Inclusion In Governance
Former Chief of Army Staff, Tukur Yusuf Buratai, has urged Nigerians to support young people in pursuing their dreams and taking active roles in politics, as he publicly endorsed the political ambition of his son, Tukur Buratai Jnr.
Buratai, a former Nigerian Ambassador to the Republic of Benin, made the call in a statement shared on his verified Facebook page, where he expressed support for his son’s decision to contest for the Biu Constituency seat in the Borno State House of Assembly under the platform of the All Progressives Congress�.
According to the retired military chief, Nigeria’s future depends largely on its youthful population, stressing that excluding young people from governance and leadership would hinder national growth and development.
He noted that Nigerian youths should not merely be regarded as leaders of tomorrow, but as active contributors and solution providers capable of shaping the country’s future today.
Buratai further emphasized the need to create opportunities and an enabling environment for young Nigerians to thrive politically, economically, and socially, describing youth inclusion as critical to nation-building.
The endorsement of Captain Buratai Jnr, a pilot, is being viewed by political observers as a symbolic transfer of leadership ideals, discipline, and patriotism from one generation to another.
His candidacy is also expected to inject youthful energy and fresh perspectives into legislative representation in Biu Constituency ahead of future political contests.
As preparations gradually begin towards the next electoral cycle, Buratai’s message is likely to resonate among young Nigerians seeking greater participation in governance and public service.
celebrity radar - gossips
Buratai Celebrates Ex-Internal Affairs Minister, General Magoro, At 85
Buratai Celebrates Ex-Internal Affairs Minister, General Magoro, At 85
Former Chief of Army Staff, Tukur Yusufu Buratai, has paid glowing tribute to retired Major General Muhammadu Magoro on the occasion of his 85th birthday, describing him as “a national hero and a general par excellence.”
In a congratulatory message issued on Thursday, Buratai hailed Magoro’s decades of service to Nigeria, noting that his military and political careers remained a model of patriotism, discipline, and leadership.
Magoro, who holds the traditional title of Mutawallen of Kebbi Kingdom, served as a commander during the Nigerian Civil War, later becoming Minister of Internal Affairs and a senator during the Second Republic.
Buratai said the retired general’s contributions to national development and security had earned him recognition both within and outside Nigeria.
He also acknowledged Magoro’s role in mentoring younger military officers, including himself, stressing that the elder statesman’s guidance and professional conduct had inspired generations of military leaders.
The former army chief recalled recently reconnecting with Magoro during the 25th anniversary celebration of the Arewa Consultative Forum in Kaduna, describing the meeting as symbolic of the enduring bond among those who had served the nation selflessly.
“As you mark this 85th birthday, I pray that Almighty Allah continues to bless you with good health, peace of mind, and many more fruitful years,” Buratai stated.
He further noted that Magoro’s legacy would continue to inspire future leaders across military and civilian institutions in the country.
Buratai concluded the message by wishing the elder statesman a memorable celebration, declaring that “Nigeria salutes” him for his sacrifices and enduring service to the nation.
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