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Abdulsamad Rabiu Net Worth Declines By $1.1 Billion In 2024
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Abdulsamad Rabiu, founder of BUA Group, experienced a $1.1 billion drop in his net worth, falling from $5.9 billion in January to $4.8 billion by the end of 2024.
Abdulsamad Rabiu Net Worth declined by $1.1 billion in 2024.
The wealth of Africa’s richest individuals took a hit in 2024, with the combined net worth of the continent’s top billionaires declining over the past 363 days.
According to data collated from Forbes estimates, only 10 of Africa’s 20 billionaires recorded significant gains or losses this year, with their collective wealth now standing at $61.4 billion—down from $63 billion at the start of the year.
This year, four of Africa’s wealthiest individuals collectively lost a staggering $4.5 billion from their fortunes, reflecting the profound impact of economic headwinds and market volatility on even the most robust industries. Delays in large-scale projects, declining asset values, and fluctuating markets contributed to these setbacks, affecting sectors like cement production, and energy.
Loss: $1.1 billion
Net Worth: $4.8 billion (Jan 2024: $5.9 billion)
Sector: Diversified
Abdulsamad Rabiu, founder of BUA Group, experienced a $1.1 billion drop in his net worth, falling from $5.9 billion in January to $4.8 billion by the end of 2024. Rabiu owns significant stakes in BUA Cement and BUA Foods, both of which have faced challenges in Nigeria’s industrial sector.
Despite the financial dip, Rabiu’s contributions to Nigeria’s cement production, sugar refining, and real estate industries remain unparalleled. With strategic adjustments, his industrial empire is poised for recovery and growth in the coming years.
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OGTV broadcaster: Police recover stolen Lexus RX300 as CP vows “no stone unturned” in murder probe
Ogun State Police Command says it has recovered the Lexus RX300 stolen from the home of slain ex-OGTV broadcaster Mrs Kitan Oyesiku and her security guard in Iyana Agodo Village, Owode-Egba.
The recovery happened during night operations, the command confirmed Monday.
—CP walks the scene himself—
Commissioner of Police Bode Ojajuni visited the crime scene for an on-the-spot assessment. He inspected the premises and got briefings from detectives handling the case.
“CP Ojajuni reiterated the Command’s resolve to leave no stone unturned in unraveling the circumstances surrounding the incident and ensuring that those responsible are identified, apprehended, and brought to justice,” Police PPRO Oluseyi Babaseyi said in a statement.
The visit, according to police, was to evaluate progress in the investigation into the double murder that has rattled the Owode-Egba community.
—What happened that night—
PUNCH Online had reported that a resident raised the alarm over suspicious movements around Oyesiku’s residence. When operatives arrived, they found signs of forced entry.
Inside, the security guard was found dead at his post. Oyesiku’s body was later discovered inside the apartment. Her Lexus RX300 was missing.
Police now say the vehicle has been secured and will serve as key evidence. “It is worthy of note that the vehicle earlier reported missing from the residence, a Lexus RX300, has been recovered by police operatives during the night hours,” Babaseyi confirmed.
—“Intensive investigation ongoing”–
Ojajuni commiserated with Oyesiku’s family and assured Ogun residents that “all available resources are being deployed to track down the perpetrators.”
For now, no arrests have been announced. But with the car recovered and the CP personally monitoring the case, police say they’re closing in.
Oyesiku, a retired broadcaster with Ogun State Television, was remembered by colleagues as a calm voice on air. Her death, alongside her guard’s, has renewed calls for better security for elderly residents living alone in semi-urban areas. [The Punch report rewritten]
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Tinubu set to Flag-Off Construction of Service Carriageways of the Southern Parkway, from Arterial Road S20 (Oladipo Diya way) to Ring Road II, today
President Tinubu Will Flag-Off Construction of Service Carriageways of the Southern Parkway, from Arterial Road S20 (Oladipo Diya way) to Ring Road II and Collector Road CO1 from Nile University area to Ring Road III (Extension of Body of Benchers road) Today
#FCTRenewedHope
#FCTProjectsCommissioning
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Senator Abba Moro hails Olaka Nwogu on electoral victory
The senator representing Benue South Senatorial District and Senate Minority Leader, Comrade Abba Moro PhD, on behalf of the minority caucus of the senate, congratulates the candidate of People’s Democratic Party (PDP), Olaka Nwogu, in the Saturday bye-election in Rivers State on his landslide victory.
The Independent National Electoral Commission, on Sunday, declared Nwogu as the winner of the Rivers South East Senatorial District bye-election. He polled 47,961 votes to defeat the APC candidate who scored 1,647.
Senator Moro attributes Ngwogu’s victory to the growing acceptability of the PDP and doggedness of the National Leader of the party and Honourable Minister of the FCT, Barr. Nyesom Wike.
The senator says Wike’s leadership of the PDP is returning the party to its winning ways and assures of his continued contribution to strengthen the party at all levels ahead of the 2027 general elections.
He congratulates Nwogu and heartily welcomes him to the senate. He promises to provide the necessary guidance and support for him to have a smooth stay in the senate.
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