BUA Foods Rally Pushes Khalifa Rabiu’s Stake Past $300 Million

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The value of Khalifa Rabiu’s shareholding in BUA Foods Plc has crossed the $300 million mark, buoyed by a sharp rally in the Nigerian food manufacturer’s share price that has made it one of the most-watched stocks on the Nigerian Exchange.

Khalifa son of Abdul Samad Rabiu, one of Africa’s wealthiest industrialists holds a 2.63% stake in the company, equivalent to 473.6 million shares. That stake has grown in value from roughly $271 million in March to about $335 million, as BUA Foods shares gained more than 21% over 67 days.

BUA Foods shares closed at N967 per share in late April 2026, having started the year at N798.90. The stock has gained 21% on that opening valuation, pushing the company’s market capitalisation to N17.41 trillion about 11.4% of the entire Nigerian Exchange equity market.

BUA Foods is currently the second most valuable company on the Nigerian Exchange, sitting behind MTN Nigeria.

The rally has been driven by strong investor appetite. A major factor was a record planned dividend payout BUA Foods is set to hand shareholders N504 billion in dividends following a record profit year in 2025. Revenue for the year rose to N1.77 trillion, up from N1.53 trillion in 2024.

Market watchers also linked the share price rise to the company’s planned capacity expansion. BUA Foods Managing Director Ayodele Abioye said the company is targeting a capacity increase of over 50% across its business divisions, a move aimed at capturing Nigeria’s fast-moving consumer goods market, estimated at N23 trillion.

Alongside the rise in his portfolio value, Khalifa Rabiu is also set to receive a N13.2 billion dividend payout in July a direct benefit of BUA Foods’ record profit performance and its consistent shareholder returns policy.

Khalifa whose full name is Isyaku Abdulsamad Rabiu currently serves as Chief Officer for Global Procurement and Strategic Operations at BUA Foods, placing him at the centre of supply chain management, cost optimisation and strategic sourcing across the group’s food business.

His growing visibility within the company has drawn attention to the question of succession at the BUA Group, one of Nigeria’s largest industrial conglomerates with interests in food manufacturing, cement, and infrastructure.

BUA Foods’ share price gains are part of a broader rally across the BUA Group’s listed entities. Abdul Samad Rabiu’s net worth rose from $11.8 billion in early March 2026 to $14 billion within the same month, driven largely by surging share prices at both BUA Foods and BUA Cement, where BUA Cement recorded an 83% year-to-date gain at the time.

BUA Foods was listed on the Nigerian Exchange in January 2022 at a market capitalisation of N720 billion. It now stands at N17.41 trillion a more than 24-fold increase in four years.