Naguib Sawiris surpassed in the "Bloomberg Billionaires Index"
The founder and chairman of the Nigerian "BUA" group, Abdulsamad Rabiu, distributed $20.7 million in cash to his outstanding employees, reaffirming his commitment to the workers at one of Africa's largest industrial conglomerates.
Approximately 1800 employees benefited from bonuses that targeted senior executives and frontline employees.
Rabiu announced the distribution of these bonuses on Saturday, December 13, 2025, during the long service awards ceremony hosted by "BUA Night of Excellence" at the Eko Suites Hotel on Victoria Island, Lagos, Nigeria, according to what "Business Insider" reported.
This annual event is not only a celebration of years of service but also highlights the daily contributions that sustain the group's operations.
Rabiu agreed to grant awards that included various levels of the organization. 5 employees received $691,000 each, while 5 others were awarded $345,000, and dozens more received amounts ranging from $3,450 to $13,810, ensuring that bonuses included all employees, not just senior staff.
In total, 1,768 employees benefited. Additionally, the group's CEO, Rabiu Kabirow, received an undisclosed amount outside the mentioned categories.
Rabiu's wealth increase confirms an exceptional year
This generous move follows a remarkable year for Rabiu personally. At the start of 2025, his net worth was estimated at around $5.1 billion, making him sixth on the list of Africa's billionaires, after Mike Adenuga and Naguib Sawiris.
By December 14, 2025, Forbes magazine estimated, through its billionaire tracking system, his wealth at $8.5 billion, an increase of $3.4 billion in just one year.
This rise enabled Rabiu to surpass both Adenuga and Sawiris, ranking fourth in Africa and 390th globally.
Prioritizing employee well-being
Earlier this year, Rabiu demonstrated his commitment to his employees by agreeing to raise their salaries by 50% across the group.
This increase, which included both permanent and temporary employees, came amid rising inflation rates and economic pressures in Nigeria.
New private jet
Rabiu did not neglect himself, as he made headlines when he recently gifted himself a Bombardier Global 8000 private jet, becoming the first African to own this long-range jet.
The jet, priced at $95 million with custom interiors, signifies Rabiu's ongoing expansion of his personal and business ventures while maintaining a luxurious lifestyle.
His cement company "BUA Cement" currently has a production capacity of 17 million tons per year, achieving revenues of $5.9 billion during the first nine months of 2025.
At the same time, revenues of "BUA Foods," which includes a sugar refinery, oil and flour mills, and a food packaging plant, exceeded $989 million during the same period, driven by strategic investments and improved operational efficiency.