Africa's 3rd richest man Abdul Samad Rabiu loses $1 billion as Nigerian stocks suffer their worst day of 2026
Billionaires Africa | 26.06.2026 17:29
Abdul Samad Rabiu watched his fortune fall by more than $1 billion in a single session on June 25, as the Nigerian Exchange recorded its sharpest single-day correction of 2026. The selloff erased about $2.64 billion (N3.64 trillion) in market value and hit the founder of BUA Group harder than almost anyone. Rabiu controls 95.8 percent of BUA Cement and 92.6 percent of BUA Foods, so his net worth tracks both stocks almost tick for tick.
