Nigerian Billionaire Abdul Samad Rabiu Enjoys Luxury Mediterranean Getaway After $237M Dividend

Nigerian billionaire Abdul Samad Rabiu, CFR, CON is taking time away from the boardroom after receiving an estimated $237 million dividend from his controlling stake in BUA Cement Plc..

The payout follows another strong year for one of Nigeria’s largest cement producers, which distributed N338.6 billion ($248.2 million) to shareholders for the 2025 financial year.

Rabiu, the chairman of BUA Group, who controls 95.78 percent of the company, received the largest share of the distribution through his related entities.

His latest update reveals he is spending time cruising the Mediterranean, a region renowned for its historic coastal cities and luxury travel destinations.

The dividend comes as BUA Cement reported a sharp increase in first-quarter earnings, while BUA Foods also posted growth, reinforcing the strength of the billionaire’s core holdings.

Combined dividends from both companies are expected to reach roughly $574.3 million for the 2025 financial year.

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