Prime Business AfricaWithin three months, the investment of Abdul Samad Rabiu in BUA Cement increased by N386.97 billion, as the billionaire profited from the bullish sentiments of stock market investors in the second quarter of 2025.
According to Prime Business Africa’s analysis, BUA Cement’s shares were the second most sought-after among the cement companies listed on the Nigerian Exchange Limited (NGX), also known as the Nigerian stock market.
Join our WhatsApp ChannelBetween April 2 and June 30, the share price of BUA Cement, which Rabiu chairs, appreciated by N11.7 kobo, as high demand for the shares pushed up the price, from N83.70 kobo to N95.40 kobo.
The 13.97 percent appreciation in share price led to Rabiu’s investment in BUA Cement rising by N386.97 billion, from N2.76 trillion to N3.15 trillion during the period under review, due to the 33.07 billion direct and indirect shares he held.
A breakdown of Rabiu’s investment in BUA Cement showed that he held 18.97 billion direct shares, representing a 56.03 percent stake, in the second quarter, which was worth N1.58 trillion on April 2, but rose to N1.81 trillion on June 30.
The businessman, who is Nigeria’s third richest person, also held 637.40 million indirect shares, representing a 1.88 percent stake, through Damnaz Cement Company Limited, which was valued at N53.35 billion at the start of the second quarter, but went up to N60.80 billion at the end of the same period.
Also, through BUA Industries Limited, Rabiu held 13.46 billion indirect shares, representing a 39.75 percent stake, and worth N1.28 trillion on June 30, compared to the N1.12 trillion it was valued at on April 2.
Consequently, Rabiu’s total shares of 33.07 billion, which are valued at N3.15 trillion as of June 30, represent a 97.66 percent controlling stake in BUA, which is the second most valuable cement business in Nigeria.
At the end of the second quarter, Prime Business Africa gathered that BUA Cement’s market valuation was N3.23 trillion, exceeding the N2.83 trillion market capitalisation recorded at the start of the period.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
