Africa’s Second-Richest Man, Abdul Samad Rabiu, Takes Delivery of $81 Million Bombardier Global 8000
Abdul Samad Rabiu, Chairman of BUA Group and Africa’s second-richest individual, has reportedly taken delivery of a new Bombardier Global 8000 private jet valued at approximately $81 million.
According to information shared on Rabiu’s Instagram page, the acquisition agreement was finalized on December 4, 2025, at BUA’s Dubai office following weeks of negotiations. The purchase places him among the first African business leaders to own the ultra-long-range aircraft, which can reportedly cost between $85 million and $95 million when customized with luxury interiors.
The Bombardier Global 8000 is regarded as one of the most advanced business jets currently available. It is capable of reaching speeds of up to Mach 0.95, making it the fastest civilian aircraft since the retirement of the Concorde. The jet has a range of approximately 8,000 nautical miles (14,800 kilometres) and can accommodate up to 19 passengers.
The aircraft is expected to join BUA Group’s existing corporate aviation fleet, which already includes a Bombardier Challenger 350 and a Bombardier Global 6500, further strengthening one of Africa’s most sophisticated privately owned corporate fleets.
Wealth Growth Driven by BUA Businesses
Rabiu’s acquisition comes amid a period of significant financial growth. By 2026, his estimated net worth had risen to $11.2 billion, representing one of the largest wealth increases recorded among African billionaires during the year.
The businessman oversees a diversified portfolio through BUA Group, with operations spanning cement manufacturing, food processing, agriculture, real estate, and infrastructure development.
A major contributor to his rising fortune has been BUA Cement Plc, whose shares reportedly gained 135% over the past year, outperforming the broader Nigerian stock market.
Meanwhile, BUA Foods Plc continued to post strong financial results despite economic pressures. The company reported unaudited first-quarter 2026 earnings after tax of ₦142.32 billion, compared to ₦125.28 billion during the corresponding period in 2025.
Although revenue declined by 11% to ₦394.6 billion due to moderated pricing, easing inflation, and a more stable foreign exchange environment, profitability remained robust, underscoring the resilience of the group’s food business operations.
The latest aircraft acquisition highlights both Rabiu’s growing personal wealth and the continued expansion of the BUA Group across multiple sectors of the African economy.
