Lagos, NIGERIA — Nigerian industrialist Abdulsamad Rabiu has seen his net worth surge to $15.9 billion (approx. ₦21.6 trillion), cementing his position as the second richest man in Nigeria and the third richest on the African continent.
According to the latest data from the Bloomberg Billionaires Index released on Monday, Rabiu has recorded a staggering year-to-date gain of $5.78 billion (approx. ₦7.86 trillion), making him the best-performing billionaire in Africa this year.
The recent spike in wealth allowed Rabiu to overtake South Africa’s Nathie Kirsh, who previously held the third spot with a year-to-date gain of $5.29 billion (approx. ₦7.19 trillion).
Okay News reports that Rabiu is now narrowing the gap with Africa’s second richest person, Johann Rupert, whose fortune currently stands at $18.0 billion (approx. ₦24.5 trillion) following a year-to-date loss of $1.42 billion (approx. ₦1.93 trillion).
The ascent of the BUA Group founder marks a remarkable trajectory since the beginning of 2026. In January, Rabiu entered the top five wealthiest Africans with a net worth of $10.4 billion (approx. ₦14.1 trillion). By March, his fortune had grown to $14.6 billion (approx. ₦19.9 trillion), propelling him to 187th on the global rich list. His consistent growth stands in contrast to the broader market volatility affecting other continental titans.
While Aliko Dangote remains the unchallenged richest person in Africa with a net worth of $33.6 billion (approx. ₦45.7 trillion), Rabiu’s rapid gains have placed two Black Africans in the continent’s top three for the first time in recent years.
