Nigerian billionaire and BUA Group Chairman, Abdulsamad Rabiu, has offered a rare glimpse into his private lifestyle after he shared a video of himself cruising on a luxury speedboat in Lagos.
In the short video shared on his official Instagram page on Saturday, Mr Rabiu was aboard the boat, emblazoned with the phrase “Catch me if you can. From Lagos waves to beach rides.”
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The caption appeared to playfully highlight the billionaire’s taste for leisure and luxury.
Mr Rabiu, long regarded as publicity-shy, has drawn growing public attention in 2025 as he increasingly shared snapshots of his activities, ranging from high-level meetings in Dubai and business trips across Africa to relaxed moments at his Lagos office.
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The lifestyle glimpse comes in a year marked by a sharp rise in the industrialist’s personal wealth and the continued expansion of his business empire.
According to Forbes’ real-time billionaire tracker, Mr Rabiu’s net worth climbed to $8.5 billion by December 2025, placing him fourth on Africa’s richest list.
At the beginning of the year, the tycoon was valued at about $5.1 billion and ranked sixth on the continent, the Business Insider reported.
Analysts have linked the surge in his fortune to favourable economic conditions and the strong performance of key sectors in which BUA Group operates.
This is not the first time Mr Rabiu has been spotted enjoying Lagos waters. Earlier in June, he was spotted sailing on similar luxury boats, though such moments were not posted on his official instagram page.
Beyond the water, the billionaire recently confirmed the acquisition of a Bombardier Global 8000 private jet, one of the fastest civilian aircraft in the world. Associates described the jet as both a strategic business tool and a symbol of status, underscoring the scale at which the conglomerate now operates.
Mr Rabiu’s rising profile also mirrors BUA Group’s expansion across cement, food, infrastructure and energy. In December, the company signed an agreement with Swiss firm Bühler to install a 32-tonnes-per-hour rice processing line, a move aimed at boosting its food production capacity.
The group has also attracted attention for its employee reward culture. Last week, BUA Group announced a N30 billion reward package for 1,768 staff members, in recognition of years of service, dedication and loyalty. Five employees emerged as top, each receiving N1 billion.
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Founded in 1988 by Mr Rabiu, BUA Group has grown into one of Nigeria’s largest conglomerates, with interests spanning cement production, food processing, sugar refining and real estate development. One of its subsidiaries, BUA Foods Plc, is currently the largest company by market capitalisation on the Nigerian Exchange.
The latest staff rewards come amid heightened scrutiny of corporate governance and employee welfare in Nigeria, as inflation and rising living costs continue to put pressure on workers nationwide. Mr Rabiu has consistently emphasised loyalty, faith and long-term commitment as core values guiding the group’s corporate culture.
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