How Abdul Samad Rabiu Made $500 Million in Less Than a Month

Abdul Samad Rabiu, the Nigerian billionaire behind BUA Foods, has just had a remarkable financial turnaround. In less than a month, his fortune grew by $500 million, thanks to a strong rally in the stock of his food company listed on the Nigerian Exchange (NGX).

This gain is even more impressive when you realize it came shortly after a setback. Between August 13 and August 27, Rabiu’s net worth dropped by $400 million, sliding from $7.6 billion to $7.2 billion. But by mid-September, Forbes reported his fortune had bounced back to $7.7 billion.

BUA Foods Lifts Rabiu’s Fortune

The rebound is closely tied to the rising share price of BUA Foods, where Rabiu holds a massive 92.63 percent stake. Over the past month, the company’s stock jumped 6.7 percent, pushing its market capitalization to N11.3 trillion ($7.5 billion). 

This lifted the value of Rabiu’s personal stake to about $7.02 billion, making him the single largest investor on the NGX.

But Rabiu’s earnings haven’t come only from stock price growth. On September 12, he received a dividend of N216.75 billion ($144.4 million) from BUA Foods, which was the bulk of the company’s final payout for its 2024 financial year. 

With the company’s profits growing rapidly, even bigger dividends are expected in the years to come.

Profits on the rise

BUA Foods’ strong performance explains why investors are bullish. In the first half of 2025, the company almost doubled its net profit, hitting N260 billion ($169.8 million) compared to N130.9 billion ($85.5 million) in the same period of 2024.

The company also reported significant growth across its business divisions:

• Sugar brought in N398.1 billion ($260 million), up 8 percent.
  
• Flour surged 66 percent to N378.2 billion ($247 million).
  
• Pasta added 31 percent growth, generating N96.9 billion ($63.3 million).
  
• Rice sales skyrocketed from just N1.3 billion ($0.85 million) last year to N39.3 billion ($35.7 million).
  

Altogether, revenue climbed to N912.5 billion ($596 million) in the first half of 2025, a 36 percent jump from the previous year.

What this means for Rabiu

Abdul Samad Rabiu’s quick $500 million recovery shows the strength of BUA Foods as a business and the influence he commands as its majority shareholder. 

With expanding sales, record profits, and consistent dividend payouts, his wealth is not just growing, it looks stable for the long term.

For Rabiu, this is more than just a bounce back from a temporary loss. It is a reminder of how Nigeria’s food industry, especially companies like BUA Foods, continues to play a major role in shaping wealth on the continent.