Amid hurdles, BUA Cement showcased its resilience and achieved a 13-percent growth in gross profit, amounting to $113.75 million in 2023.
BUA Cement
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- Hot News
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement to fund $78.9-million Lokoja-Benin road project
The financing will be facilitated through Nigeria’s tax credit scheme, designed to attract private sector participation in infrastructure development.
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The company showcased robust revenue growth, surging past $110 million, yet faced a notable decline in profit due to escalating costs and …
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Nigerian billionaire Abdul Samad Rabiu’s cement company reports $284.4-million revenue in 2023
The recently published financial report highlights a remarkable 27.4-percent surge in revenue, rising from $223.2 million in 2022 to $284.4 million in …
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BUA Cement has solidified its position as Nigeria’s second-largest cement producer.
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This underscores the financial success of BUA Cement under Rabiu, a prominent industrialist who has solidified his standing as Nigeria’s second-richest man.
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Bloomberg estimates Rabiu’s net worth slightly lower at $5.91 billion, considering approximately $2.98 billion in miscellaneous liabilities.
- West & Central Africa
Nigerian billionaire Abdul Samad Rabiu to bring cement prices below $4.5 per bag by 2024
Under the leadership of Rabiu, BUA Cement has firmly established itself as Nigeria’s second-largest cement producer.
- West & Central Africa
Nigerian billionaire Abdul Samad Rabiu’s cement company slashes cement prices
This decision comes just one month after Rabiu expressed optimism regarding the completion of two new cement factories by the year’s end.
- West & Central Africa
Nigeria’s second-richest man Abdul Samad Rabiu rejoins world’s 500 richest billionaires
This surge in wealth has firmly positioned Rabiu as the 500th richest individual globally, just behind the 499th-ranked Charles Dolan.