Nigerian billionaire and BUA Group Chairman, Abdulsamad Rabiu, has officially become Africa’s second-richest man with an estimated net worth of $19.0 billion.
Rabiu now moves ahead of South African business magnate Johann Rupert, sitting just behind fellow Nigerian billionaire Aliko Dangote on the continent’s rich list.
His impressive rise is reportedly driven by the strong performance of BUA Foods, which recorded a 14% increase in earnings after tax in the first quarter of 2026.
The development further highlights how strategic investments in key sectors such as food production, cement, and manufacturing continue to shape Africa’s billionaire rankings and business landscape.
With Nigerian entrepreneurs now occupying the top two spots on Africa’s wealth ladder, conversations around industrialisation, local production, and economic influence across the continent are once again gaining attention.
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