BUA Chairman, Abdulsamad Rabiu, Takes Delivery of $81m Bombardier Global 8000 Jet

Abdul Samad Rabiu, chairman of BUA Group and Africa’s second-richest man, has taken delivery of a Bombardier Global 8000 private jet worth about $81 million. Rabiu announced the acquisition in an Instagram post.

The deal was signed on 4 December 2025 at BUA’s Dubai office after weeks of quiet negotiations. It makes Rabiu one of the first African owners of the ultra-long-range jet, which can cost $85 million to $95 million with custom interiors.

The Global 8000 is the fastest civilian aircraft since Concorde. It can fly at Mach 0.95 and cover 8,000 nautical miles, or 14,800 km, without refueling. The jet can carry up to 19 passengers. It will join BUA’s corporate fleet, which already includes a Challenger 350 and a Global 6500, giving the group one of the most advanced private aviation fleets owned by any African company.

Rabiu’s wealth has surged heading into 2026. By the time the Bombardier deal was signed in December, he had already moved past Mike Adenuga and Nassef Sawiris to rank fourth among Africa’s richest people. His net worth hit $11.2 billion in 2026, the biggest gain on the continent that year. That is a 120 percent increase, or $6.1 billion, from 2025.

Rabiu runs a diversified conglomerate with interests in cement, sugar refining, agriculture, and real estate. BUA Cement remains the main driver of his wealth. Its shares rose 135 percent over the past year, outpacing the Nigerian stock market’s 81 percent gain amid strong corporate earnings and more pension fund investment in equities.

BUA Foods has also posted strong results despite tough economic conditions. Unaudited Q1 2026 results showed earnings after tax of ₦142.32 billion, up from ₦125.28 billion in the same period last year. Revenue fell 11 percent to ₦394.6 billion due to lower pricing, easing inflation, and a more stable foreign exchange market, but profitability stayed resilient.