As of August 1, 2025, the founding father of BUA Community, Abdulsamad Rabiu has officially overtaken telecoms and oil tycoon Mike Adenuga to develop into Nigeria’s 2d-richest man.
The brand new rankings, in step with the most modern Forbes Billionaires Checklist, position Rabiu within the 572nd position globally with a salvage rate of $6.3 billion. Adenuga now sits a minute bit within the relieve of at 578th, despite also being valued at $6.3 billion.
What pushed Rabiu forward? A $365 million surge in a single day
That great accomplish is believed to be tied to most modern spikes within the Nigerian stock market, seriously in shares of BUA Cement and BUA Foods, the build Rabiu holds notable fairness.
His strong presence within the cement, sugar, and oil & gasoline sectors continues to yield big returns, seriously amid renewed investor self belief in Nigeria’s industrial sectors.
This isn’t essentially the notable time Rabiu has held the 2d position. In 2024, a reevaluation of Mike Adenuga’s sources, seriously his stake in telecom giant Globacom pushed Rabiu down the ranks. But this most modern recovery shows how like a flash fortunes can shift amongst Nigeria’s industry elites.
In the meantime, Aliko Dangote stays firmly in first position, both in Nigeria and all over Africa. With a salvage rate of $24.5 billion, Dangote continues to tower over his peers despite shedding $48 million in a day due to market fluctuations.
His empire, which contains cement, sugar, salt, and Africa’s largest oil refinery, retains him securely at the top.
Rounding out the checklist is Femi Otedola, chairman of First Financial institution, with a salvage rate of $1.5 billion. Otedola, known for his calculated funding ideas in energy and finance, seen a modest $2 million accomplish in most modern weeks.
Here’s how the most modern top Nigerian billionaires stand:
- Aliko Dangote – $24.5 billion
- Abdulsamad Rabiu – $6.3 billion
- Mike Adenuga – $6.3 billion
- Femi Otedola – $1.5 billion
