Abdulsamad Rabiu Set to Earn N324bn Dividend as BUA Cement Posts Record Profits
Nigerian billionaire industrialist Abdulsamad Rabiu is poised to receive nearly N324.38 billion in dividends. Rollowing record-breaking profits declared by BUA Cement, reinforcing his position as one of Africa’s most influential business figures.
According to corporate filings, Rabiu will receive N189.75 billion directly as a major shareholder. While an additional N134.6 billion will accrue to BUA Industries Limited, his holding company. The payout marks one of the largest dividend windfalls in Nigeria’s corporate history.
Cement Giant Expands Capacity
BUA Cement, currently Nigeria’s second-largest cement producer, is leveraging its strong earnings to fuel expansion. The company has announced plans to add a new production line, which will raise its installed capacity to 20 million metric tonnes per year.
The expansion is expected to strengthen its market share in Nigeria’s fast-growing construction and infrastructure sector. While also positioning the company for increased regional exports.
Broader Industrial Ambitions
Beyond cement, Abdulsamad Rabiu is accelerating diversification efforts. He recently signed a Memorandum of Understanding in Abu Dhabi to establish sugar refining and agro-industrial enterprises. Signaling a strategic push into food processing and value-added manufacturing.
Under the agreement, Khalifa Port will serve as a logistics hub for Nigerian exports, potentially opening new trade corridors between Nigeria and the Middle East.
Strengthening Industrial Footprint
The dividend surge underscores BUA Cement’s strong financial performance amid rising infrastructure demand and strategic capacity expansion. For Abdulsamad Rabiu, the windfall not only boosts personal wealth. But also enhances the capital base of his broader industrial empire.
As BUA continues scaling operations across cement, sugar, and agro-processing. Analysts say the group is positioning itself as a key driver of Nigeria’s industrialization agenda and export diversification strategy.
