Africa’s Second-Richest Man Abdul Samad Rabiu Adds $81 Million Bombardier Global 8000 to Expanding Corporate Fleet
Nigerian billionaire and BUA Group Chairman, Abdul Samad Rabiu, has strengthened his position among Africa’s most influential business leaders with the acquisition of a Bombardier Global 8000 private jet valued at approximately $81 million (₦110 billion).
The acquisition, which was revealed through a post on Rabiu’s Instagram page, underscores the continued growth and global ambitions of the BUA Group empire. Reports indicate that the agreement for the state-of-the-art aircraft was finalized on December 4, 2025, at BUA’s Dubai office following weeks of negotiations. The purchase places Rabiu among the first African business magnates to own the ultra-long-range business jet, which can command prices of between $85 million and $95 million when customized with luxury interior specifications.
The Bombardier Global 8000 represents one of the most advanced achievements in modern private aviation. Recognized as the fastest civilian aircraft since the era of the Concorde, the jet boasts a top speed of Mach 0.95 and an impressive range of 8,000 nautical miles (14,800 kilometers). Designed to accommodate up to 19 passengers, the aircraft offers unparalleled comfort, efficiency, and connectivity, making it ideal for long-haul international business travel.
The new acquisition will join BUA Group’s growing aviation fleet, which already includes a Challenger 350 and a Global 6500. With the addition of the Global 8000, BUA now possesses one of the most sophisticated corporate aviation fleets owned by any African business conglomerate, reflecting the company’s expanding global footprint and operational reach across multiple sectors.
Rabiu’s latest acquisition comes amid a remarkable period of wealth creation and business expansion. The billionaire has emerged as one of Africa’s biggest financial success stories, recording the continent’s largest increase in personal wealth in 2026. His net worth surged to an estimated $11.2 billion, representing a 120 percent increase, or approximately $6.1 billion, from the previous year.
The dramatic rise in his fortune has been fueled largely by the outstanding performance of BUA Group’s flagship companies. BUA Cement, a major player in Nigeria’s construction and infrastructure sector, has been a key contributor to this growth, with its share price soaring by 135 percent over the past year. The company significantly outperformed the broader Nigerian stock market, which itself posted an impressive 81 percent gain amid strong corporate earnings and increased investor participation.
Equally impressive has been the performance of BUA Foods, which continues to demonstrate resilience despite prevailing economic challenges. According to the company’s unaudited first-quarter 2026 financial results, earnings after tax climbed to ₦142.32 billion, up from ₦125.28 billion during the same period in 2025.
Although revenue declined by 11 percent to ₦394.6 billion due to moderated product pricing, easing inflationary pressures, and a more stable foreign exchange environment, the company maintained strong profitability, highlighting the effectiveness of its operational strategy and market position.
As BUA Group continues to expand its influence across cement manufacturing, sugar refining, agriculture, food production, and real estate, the acquisition of the Bombardier Global 8000 serves as another symbol of the company’s rising stature on the global business stage. It also reflects Abdul Samad Rabiu’s growing prominence among Africa’s wealthiest and most successful entrepreneurs, as he continues to drive investment, industrial growth, and economic transformation across the continent.
