Alhaji Abdul Samad Rabiu, founder and Chief Executive of BUA Group was recently listed among four richest billionnaires in Nigeria and Africa.
In the latest Forbes ranking of top global money men, Rabiu was named Nigeria’s third richest man in Nigeria Aliko Dangote, President of Dangote Group retained his spot as the World’s richest black person with a fortune of USD10.1 billion. Mike Adenuga, Chairman of Globacom came in second in Nigeria and third in Africa with a fortune of USD7.7billion, whilst Abdul Samad Rabiu of BUA Group was 3rd in Nigeria and 8th in Africa with a fortune of USD3.13billion – moving up 8 places from last year’s ranking. Folorunsho Alakija of Famfa Oil completes the list of Forbes billionaires from Nigeria with a fortune of USD1billion dollars coming in at #20.
According to Forbes, only eight of Africa’s 54 nations have billionaires in the list of Global billionaires. Egypt and South Africa are tied with five billionaires each, Nigeria has four; Morocco has two, while Zimbabwe and Tanzania have one billionaire each. In the list, Africa’s 20 wealthiest people are richer in 2019 than 2018 with combined worth at $73.4 billion. Of the four Nigerians on this year’s Forbes list, only BUA’s Abdul Samad Rabiu recorded an increase in his fortunes from the previous year record.