Abdul Samad Rabiu, chairman of BUA Group and Africa’s second-richest man, has taken delivery of a Bombardier Global 8000 private jet valued at approximately $81 million (₦110 billion), according to a post on his Instagram page.
- Abdul Samad Rabiu, chairman of BUA Group, has acquired a Bombardier Global 8000 private jet valued at about $81 million.
- The deal was signed in December 2025, making Rabiu one of the first Africans to own this ultra-long-range business jet.
- The jet is the world’s fastest civilian aircraft since Concorde and will join BUA’s already advanced corporate fleet.
- Rabiu’s net worth soared to $11.2 billion by 2026, a 120% increase from the previous year and the largest gain in Africa.
Abdul Samad Rabiu, chairman of BUA Group and Africa’s second-richest man, has taken delivery of a Bombardier Global 8000 private jet valued at approximately $81 million, according to a post on his Instagram page.
The deal was reportedly signed on 4 December 2025 at BUA’s Dubai office after weeks of discreet negotiations, making Rabiu one of the early African owners of the ultra-long-range business jet, which can cost up to $85–95 million when fitted with bespoke interiors.
The Bombardier Global 8000 is an ultra-long-range private jet and the fastest civilian aircraft since the Concorde. Capable of Mach 0.95 speeds and an 8,000-nautical-mile (14,800 km) range, it can carry up to 19 passengers.
The aircraft will join BUA’s corporate fleet, which already includes a Challenger 350 and a Global 6500, giving the conglomerate one of the most advanced private aviation fleets owned by any African business group.
Wealth surge and business expansion
Rabiu has enjoyed a strong financial run heading into 2026. At the time the Bombardier deal was signed in December, he had already overtaken both Mike Adenuga and Nassef Sawiris to move into fourth place among Africa’s richest individuals.
By 2026, his net worth surged to $11.2 billion, marking the largest wealth gain on the continent that year — a 120% increase, or $6.1 billion, from 2025.
Rabiu oversees a diversified conglomerate with interests in cement, sugar refining, agriculture, and real estate. His flagship asset, BUA Cement, has been a key driver of his wealth, with shares rising 135% over the past year, outperforming the Nigerian stock market, which gained 81% amid strong corporate earnings and increased pension fund participation in equities.
BUA Foods has also delivered strong performance despite macroeconomic pressures. The company’s unaudited Q1 2026 results showed earnings after tax of ₦142.32 billion, up from ₦125.28 billion in the same period last year.
Despite an 11% decline in revenue to ₦394.6 billion driven by moderated pricing, easing inflation, and a more stable foreign exchange environment, profitability remained resilient.
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