Nigerian industrialist Abdulsamad Rabiu is now the 4th richest man in Africa, following a surge in his net worth.

According to Forbes, Rabiu's net worth has surged to $9.2 billion as at Monday, October 27.

His latest net worth represents a $4.2 billion increase compared to $5.1 billion he had start of the year.

The rise in his net worth has now made him Africa's 4th richest man on the Forbes list, ahead of Egyptian billionaire Nassef Sawiris.

Egyptian billionaire Nassef Sawiris, who has not had a great 2025, started the year as the fourth-richest man in Africa.

Sawiris opened the year with a net worth of $9.6 billion it has now dropped to $8.8 billion as at October 27.

This means that Rabiu is now ahead of Sawiris with a gap of more than $500 million.

It is now expected that Nigerian billionaire will soon become the next African with a net worth of $10 billion due to the performance of his two flagship companies BUA Cement and BUA Foods on the NGX.

The shares of BUA Foods have risen by about 66% this year, while BUA Cement’s stock has surged by roughly 93%.

This impressive rally has boosted the market value of Abdul Samad Rabiu’s 92.6% stake in BUA Foods to N12.2 trillion and his 97.66% holding in BUA Cement to N5.96 trillion.

The surge follows strong business performances in the first half of 2025. BUA Foods reported revenue of N912.5 billion for the six months ending June 30, a 36% increase from the previous year.

Net profit for the period nearly doubled to N260 billion from N130.9 billion, driven by higher sales volumes, improved pricing, and lower financing costs.

Similarly, BUA Cement’s revenue climbed from N363.94 billion in the first half of 2024 to N580.3 billion a year later, while profit soared from N34.25 billion to N180.89 billion, highlighting its growing dominance in Nigeria’s construction and building materials sector. Dangote becomes first African in history.