The deep concentration of ownership in Nigeria’s heavy industries has yielded another historic corporate payday. Abdul Samad Rabiu, the billionaire chairman of BUA Cement Plc, took home a staggering N189.74 billion from his personal stake in the manufacturing giant following shareholder approval of the company’s financial rewards for the year ended December 2025.
As Nigeria’s second-richest man, Rabiu directly controls 18.974 billion units, or 56.03 percent, of BUA Cement’s 33.864 billion outstanding shares. Following the company's gross dis
