Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $200 million nine-month profit

BUA Cement Plc led by Nigerian billionaire Abdul Samad Rabiu, posted a strong financial performance for the nine months ended Sept. 30, 2025, with profit climbing to $200 million. Higher sales and careful cost management drove the rise.

BUA Cement posts record nine-month profit and revenue

The company’s unaudited financial statements show profit rising from N48.97 billion ($33.6 million) in the nine-month period of 2024 to N289.86 billion ($200 million) in the nine-month period of 2025. The company’s full-year profit in 2024 stood at N73.9 billion ($50.7 million).

The increase in revenue was a major factor in the profit boom. Due to rising prices and sustained demand for cement products, the company's top line grew to N858.7 billion ($590 million) in 9M 2025 from N583.4 billion ($400.7 million) in 9M 2024.

Nigeria’s second-largest cement maker continues to grow 

BUA Cement is a key subsidiary of BUA Group. The cement giant, which produces up to 11 million tonnes of cement annually, ranks as Nigeria’s second-largest cement manufacturer and plays an important role in West Africa’s construction sector.

Rabiu continues to lead the company as founder and majority owner. He holds a 97.66 percent stake in BUA Cement and has steadily expanded the business into one of the country’s most profitable industrial firms. Forbes estimates Rabiu’s net worth at roughly $8.7 billion.

Retained earnings double, assets rise

Thanks to its capacity, impressive earnings and solid financial position, BUA Cement remains a top player in Nigeria's construction sector, supporting infrastructure development and providing materials for residential and commercial projects throughout the region.

By Sept. 30, 2025, the company's retained earnings had more than doubled from N175.7 billion ($120 million) as of Dec. 31, 2024, to N396.1 billion ($272.2 million). Its balance sheet also improved, with total equity rising from N388.55 billion ($266.5 million) to N608.9 billion ($418.2 million) and total assets rising from N1.57 trillion ($1.078 billion) to N1.61 trillion ($1.1 billion).