Abdul Samad Rabiu shares rare Holiday after staff award

Just days after BUA Group stunned Nigeria’s corporate community with a N30 billion ($20.7 million) cash reward for long-serving employees, its founder and executive chairman, Abdul Samad Rabiu, offered a rare glimpse into his private life. In a short Instagram video shared over the weekend, the Nigerian billionaire is seen enjoying time away from work, moving from a boat cruise to beach rides in a relaxed setting far removed from boardrooms and factory floors.

The post, captioned “Catch me if you can… from Lagos waves to beach rides,” quickly drew attention, coming on the heels of one of the most talked-about employee reward programs in recent Nigerian corporate history. Rabiu, whose net worth is estimated at $8.9 billion by Forbes, rarely shares personal moments publicly, making the timing and tone of the video notable.

BUA expands operations: Deals signed November to December

The brief holiday post follows an intense stretch for BUA Group, one of Africa’s largest manufacturing and industrial conglomerates. Between late November and early December, the company signed several high-profile deals, including an agreement to acquire Bombardier’s Global 8000 business jet and contracts to expand its food and agribusiness operations. Those deals include a 32-tonnes-per-hour rice processing line and a partnership with Türkiye’s Viteral Integrated Milling Systems to build a 40-tonnes-per-hour animal feed mill in Kano.

Those impressive collaborations and partnerships sit alongside one of BUA’s most ambitious projects: Nigeria’s largest integrated sugar complex. Once completed the facility is expected to process 10,000 tons of cane daily, generate 35 megawatts of electricity from bagasse and produce 20 million liters of industrial ethanol each year. The project is designed to reduce Nigeria’s dependence on sugar imports while supporting local agriculture and power generation.

Food, cement profits more than double

Strong financial results have matched BUA’s recent operational push. BUA Foods Plc reported profit for the nine months ended Sept. 30, 2025, of N405.2 billion ($283.5 million), more than double the N201.4 billion ($140.4 million) recorded a year earlier. Revenue climbed to N1.42 trillion ($987 million) from N1.07 trillion ($743.6 million), reflecting higher sales volumes and tighter cost controls during a period marked by inflation and supply-chain challenges.

BUA Cement, the group’s other publicly listed business, posted similarly sharp gains. Profit rose to N289.86 billion ($200 million) for the nine months ended Sept. 30, 2025, up from N48.97 billion ($33.6 million) a year earlier, driven largely by higher cement prices and steady demand. Revenue grew to N858.7 billion ($590 million) from N583.4 billion ($400.7 million), while equity and total assets also increased, strengthening the company’s balance sheet.

BUA shares $20.7 million with 1,706 staff

Those results set the backdrop for last week’s employee awards, where 1,706 long-serving staff members shared N30 billion ($20.7 million) in cash at the BUA Night of Excellence ceremony in Lagos. Speaking at the event, Rabiu described the gesture as a recognition of loyalty and shared effort, telling employees that the company’s growth had always rested on their commitment.

Awards ranged from N1 billion for five employees to smaller amounts across service levels, extending recognition beyond senior management. The move followed earlier steps including a 50 percent pay rise in early 2024 and a N2 billion share award during the pandemic.