NewStats: 3,261,697 , 8,174,821 topics. Date: Friday, 30 May 2025 at 07:56 AM 4k171h

Abdul Rabiu Samad, the Nigerian billionaire and CEO/Chairman of BUA Group, has sured Mike Adenuga to claim the position of the second-richest person in Nigeria.

This shift in rankings is attributed to the significant surge in Rabiu’s fortune, now estimated at $7.2 billion, according to Forbes’ list of global billionaires, where he ranks 343rd.

The remarkable increase in Rabiu’s net worth, with an addition of nearly $1.9 billion in the past week, is primarily associated with the valuation of BUA Foods.

BUA Foods’ shares witnessed substantial growth, soaring over 10% from N40 ($0.0968) to N44 ($0.1065) in early January 2024, contributing to the surge in market capitalization to N792 billion ($1.92 billion). This propelled Samad ahead of Adenuga, whose net worth currently stands at $6.6 billion.

The recent reassessment of Adenuga’s mobile phone network, Globacom, by Forbes resulted in a temporary shift in rankings earlier in January. However, Adenuga’s wealth has seen a decline since then, dropping by $400 million to $7 billion.

Samad’s rise to the second-richest position in Nigeria underscores the dynamic nature of wealth rankings and the influence of market fluctuations.

As Rabiu takes this prominent position, Aliko Dangote retains his status as the wealthiest individual in Nigeria.

https://leadership.ng/bua-ceo-samad-overtakes-adenuga-as-nigerias-second-richest-person/

Overtaking is allowed

This is even considering the fact that he only ed the list, so kano 2 , Lagos 1. Not a bad score

I will soon take over Dangote

These 2 will continue to dominate the top 2 positions as they take poll positions in unveiling their refineries and expand the metric tonnage from their cement companies.

Congratulations to the duo of Dangote and Abdul Samad.


Say NO to monopoly

Money men

Money Man

matify83:
These 2 will continue to dominate the top 2 positions as they take poll positions in unveiling their refineries and expand the metric tonnage from their cement companies.

Congratulations to the duo of Dangote and Abdul Samad.


Say NO to monopoly

Good Talk!! I salute Abdulsamad's perseverance. Dangote has been trying to Silence him for decades.
A Cat with Nine Lives.

These men and getting wavers from government and could literally work into CBN and take an open credit loan, that they sometimes would not pay back.

Dangote should watch his back.

Market capitalisation can be dicey...

Congrat

We will get there... Someday

Adenuga's Glo Company have not been doing well for sometime even though the economy is not smiling.
Manufacturing will always have the upper hand in this emilokan economy.

/
Isn't it interesting that the ones that make the least noise have the most money in Nigeria?

Below is Mark Zuckerberg dressed up to go on a date with his wife. If he shows up on Nons_Miraj show, those poor ladies will reject him because they don't like his tro Shallow minds.

/

Dshocker:
These men and getting wavers from government and could literally work into CBN and take an open credit loan, that they sometimes would not pay back.

Keep Quiet!!! They Manufacturers, they are adding value to the Country.

Every Country protects its Entrepreneurs

Good day, please i want this message to reach the BUA CEMENT Director that we are looking for his product in Rivers State, Nigeria.
We only hear a rumor and see on Social Media that Bua Cement is sold at N3,500 but here if we manage to see Bua it will be sold at N5,500.
He should do something. Thanks

InvertedHammer:
/
Isn't it interesting that the ones that make the least noise have the most money in Nigeria?

/

Empty Barrels make Loudest Noise

Qoute never been more accurate.

Two men with undue privilege to govt patronage and state protected monopoly.
At least Tinubu is showing commitment to opening the space to all citizens but we are watching to see how it goes.

These two can literally walk into CBN get any amount of dollars they wanted upto early this year at official rate of N450 and sell off at N750 and make Billions on the spot

Just imagine your area of analysis/comparison,
to tag you myopic is to say the least. Neutral businessmen doing business across all length of the country has become kano 2, Lagos 1.....Ode

kettykin:
This is even considering the fact that he only ed the list, so kano 2 , Lagos 1. Not a bad score

Congratulations to him, this men keep stacking up wealth while Nigerians are leaving in poverty. This system is leading us to no where.

Congratulations

Dshocker:
These men and getting wavers from government and could literally work into CBN and take an open credit loan, that they sometimes would not pay back.

you think like a loser

Glo network for call is so bad

arsenal33:
you think like a loser

You think like a fooooool

iampeterben:
Congratulations to him, this men keep stacking up wealth while Nigerians are leaving in poverty. This system is leading us to no where.

It's our system of Government and policies that is at fault. You don't expect business owners to start sharing Money cuz people are poor. It won't solve the poverty issue.

Besides, these guys engage in lots of Philanthropic activities. Let's not mention religious Zakat/Charities that's compulsory on Muslims. The Government is to blame.

Congratulations

Dpharisee:
Two Fulani men with undue privilege to govt patronage and state protected monopoly.
At least Tinubu is showing commitment to opening the space to all citizens but we are watching to see how it goes

When we were in School, we always give excuses for Our Failures

Nigeria should have more billionaires in the Africa Forbes list, but our low key billionaires don’t want to list their company shares on the NGX bourse. The advantages of listing on the NGX is enormous!