Abdulsamad Rabiu Beats Dangote After Making Over $2 Billion in March
- Nigerian billionaire Abdulsamad Rabiu's net worth has increased significantly in March 2026
- Rabiu's wealth increase is thanks to the sharp increase in his company's shares listed on the NGX
- Despite Dangote retaining his position as Africa’s richest man, Rabiu made more money in March
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
Nigerian billionaire Abdulsamad Rabiu has seen his net worth surge by $2.2 billion in less than 30 days in March 2026.
Data tracked from the Bloomberg Billionaires Index shows that Rabiu’s fortune rose from $11.8 billion as of March 1, 2026, to $14 billion.
So far in 2025, Rabiu's net worth has increased by $4.13 billion as at Monday, March 30.
Source: Getty Images
The increase was driven largely by a strong rally in the shares of his listed companies, BUA Cement Plc and BUA Foods Plc.
How Rabiu's wealth rose
BUA Cement Plc has been a key factor behind Rabiu’s rising net worth, with the stock closing at N326.70 per share on the Nigerian Exchange (NGX) on Friday, March 27, 2026.
As Nigeria’s second-largest cement producer, the company remains a central part of hiswealth.
Market data indicates that the stock has gained about 83% year-to-date, climbing from N178.50 at the beginning of the year.
BUA Foods Plc has also supported the billionaire’s wealth growth, with its shares ending the same trading session at N798.00
Many analysts believe BUA Foods' share price could one day hit N1,000.
Source: Getty Images
Within that period, the stock averaged 285,037 shares per session, with an average value of N220 million per trading day across 56,184 deals, ranking it 111th in terms of trading activity on the NGX.
Rabiu holds a controlling 93% stake in BUA Foods, according to its 2025 financial disclosures. The company is Nigeria’s second-largest pasta producer and a major player in the country’s food manufacturing sector.
Rabiu made more money than Dangote in March 2026
According to Bloomberg, Dangote's net worth during the period under review has increased by just over just $100 million, having started the month with $32.4 billion.
On Monday, Dangote’s net worth rose by another $16.6 million, bringing his year-to-date gain to $2.55 billion and his total net worth to $32.5 billion, placing him as the 63rd richest man in the world and the richest in Africa.
Top 4 Nigerian billionaires start 2026
Earlier, Legit.ng reported that Nigeria’s richest men of kicking off 2026 better than 2025, led by industrialist Aliko Dangote, whose fortune more than doubled within a year.
According to Forbes billionaire rankings, Nigeria’s top four billionaires collectively control about $43 billion, up significantly from roughly $24.8 billion in January 2025.
Nigeria’s richest man, ranking 89th globally with an estimated net worth of $25.6 billion as of the start of January 2026.
Source: Legit.ng
