Abdulsamad Rabiu, the founder of BUA Group, has emerged as the fastest-growing African billionaire in 2025.

His wealth rise in 2025 is higher than Africa’s richest man, Aliko Dangote and other African billionaires.

According to the latest data from the Bloomberg index, Rabiu’s net worth has increased by $5.25 billion in 2025, bringing his total net worth to $8.4 billion as of Friday, November 14.

In comparison, Dangote who has a total net worth of $29.8 billion, has gained $1.75 billion from January to November 14, 2025.

The increase in Rabiu’s wealth is thanks to the performance of his key assets on the Nigerian Exchange: BUA Cement and BUA Foods, two of the largest companies in the country.

However, Dangote remains Africa’s wealthiest individual for total net worth

A Lagos-based financial analyst, Kelvin Umeni, said: “Rabiu’s companies have been performing strongly. If you check the half-year results of his two companies, you will realize he is doing very well. I am not surprised, and I expect him to hit a $10 billion net worth soon.”

Other African billionaires on the Bloomberg billionaire index have also recorded impressive gains this year but not at the same pace with Rabiu.

Johann Rupert, Africa’s second-richest man, has a total net worth of $18.4 billion as at Friday, an increase of $4.79 billion from the start of the year. His wealth is driven by stakes in Richemont.

Nicky Oppenheimer, another South African billionaire known for his holdings in De Beers, has gained $2.18 billion so far in 2025, bringing his wealth to $13.7 billion. While Egyptian billionaire Naguib Sawiris wealth totals $10.1 billion, which is a YTD increase of $3.23 billion.

His fellow countryman, Nassef Sawiris net worth currently stands at $9.42 billion, a $727 million growth in 2025.

South African entrepreneur Natie Kirsh fortune has increased by $530 million, taking his total net worth to $9.86 billion.

It is important to note that Dangote remains Africa’s richest man by a distance, but for wealth gain in 2025, Abdulsamad Rabiu is the rising star.

The Federal Government on Saturday said it has earmarked 40,000 hectares of land for 2025/2026 dry season wheat production and registered 80,000 farmers, with an expected output value of approximately ₦160 billion.

The Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this during the official flag-off of the 2025/2026 dry season wheat production programme under the National Agricultural Growth and Agro Pocket Project (NAGSAP) in Jere Local Government Area of Borno State.

Speaking at the ceremony, the minister said that out of the 40,000 hectares earmarked for wheat production this dry season, 3,000 hectares have been allocated to Borno State, representing 6,000 registered wheat farmers.

He said: “Under the 2023/2024 dry season wheat production programme, a total of 107,429 registered farmers were supported with critical subsidized inputs, resulting in an output valued at ₦474,628,000 billion. During the 2024/2025 dry season, 279,297 registered farmers received support, with an output valued at ₦893,750,004 billion.

“For the current 2025/2026 season, the programme is targeting 80,000 registered farmers with an expected output value of approximately ₦160 billion.”

Kyari emphasized that the NAGSAP programme will deploy Agricultural Extension Agents to guide farmers on modern agronomic practices and provide continuous field-level advisory services.

“In addition, Fertiliser and Seed Quality Control Officers will be mobilised to ensure that all inputs delivered to farmers meet the required standards, thereby guaranteeing higher productivity and improved yields,” Kyari added.

According to him, the wheat component of the NAGSAP programme covers sixteen states of the federation.

“These are Adamawa, Bauchi, Borno, Cross River, Gombe, Kaduna, Kano, Kebbi, Niger, Plateau, Sokoto, Taraba, Yobe, and Zamfara. The inclusion of Cross River last year expanded wheat production into the southern region for the first time and strengthened our national capacity to diversify production across ecological zones,” he said.

Kyari noted that the project is designed to include women and young people, enabling them to access training and agricultural opportunities.

“NAGSAP is deliberately designed to leave no one behind. The program ensures that farmers across communities—including women and young people, who play vital roles in our agricultural workforce—have equitable access to inputs, training, and opportunities.

“The success of any agricultural season depends on the quality of inputs that reach our farmers. Without certified seeds, accurate fertilizer blends, and timely access to crop protection products, no level of effort in the field can deliver the yields we require as a nation. This is why NAGSAP places strong emphasis on input quality, traceability, and transparent delivery systems, ensuring that every farmer receives the right inputs at the right time to achieve higher productivity and better returns,” he said.

Also speaking, the Governor of Borno State, Babagana Zulum, applauded the Federal Government for its continuous support towards irrigation development.

“Mr President’s commitment to food security and national productivity provides the foundation upon which programs like this are built,” he stated.

According to him, Borno State, with its vast arable and irrigable land—especially within the Lake Chad Basin—remains one of Nigeria’s most promising agricultural frontiers.

He said: “Today is more than a ceremony; it is a celebration of hope, resilience, and our unwavering commitment to ensuring that no family in Borno State goes hungry and no farmer is left behind. Despite the challenges of displacement, insecurity, and climate shocks, Borno State remains steadfast in growing its own food and empowering its people.”

The governor reaffirmed his administration’s commitment to sustaining all-season farming through the provision of essential infrastructure, logistics, modern machinery, improved seeds, fertilizers, agrochemicals, and other inputs required to boost productivity and support farmers across the state.

“Here in Borno State, wheat cultivation is not just a program; it is a transformative initiative. Through targeted investments in irrigation, mechanization, quality inputs, and extension services, we are equipping farmers to achieve higher yields, enhance productivity, and contribute meaningfully to national output.”

He further stated: “Borno State has achieved remarkable milestones under our people-centered agricultural vision. Our input support programmed have reached tens of thousands of smallholder farmers, resettled households, women, and youth, providing improved seeds, agrochemicals, and agronomic guidance.”

The Federal government of Nigeria has suspended the implementation of the proposed 15% import tax on petrol and diesel.

Naija News reports that this was announced in a statement on Thursday by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The statement, signed by the NMDPRA Director, Public Affairs Department, George Ene-Ita, also assured Nigerians that there is an adequate supply of petroleum products in the country during the peak demand period of the incoming yuletide.

The authority advised members of the public against hoarding, panic buying, or other non-market-driven escalation of petroleum prices.

It would be recalled that President Bola Tinubu had approved a 15 per cent import duty on diesel and premium motor spirit (PMS), also known as petrol.

Naija News learnt that the private secretary to the president, Damilotun Aderemi, conveyed Tinubu’s approval to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

According to TheCable, Tinubu approved the request in a letter dated October 21, 2025, after the FIRS requested that the 15 per cent duty be applied to the cost, insurance, and freight (CIF) to align import costs with domestic realities.

The letter also stated that the implementation of the import duty will increase the price of a litre of petrol by an estimated ₦99.72 kobo.

However, the statement by NMDPRA on Thursday noted that “the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”

It affirmed the commitment of the authority to ensuring a smooth and uninterrupted supply of petroleum products.