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Dangote and Abdul Samad Rabiu Face Intensified Competition in Industrial Landscape


Dangote and Abdul Samad Rabiu Face Intensified Competition in Industrial Landscape


The Nigerian Exchange Group’s substantial investments, surpassing N1 trillion, are predominantly controlled by prominent industrialists.

Leading this cohort is Aliko Dangote, the influential figure behind the Dangote Group, with a substantial holding of approximately $7.3 billion.

Following closely is Abdul Samad Rabiu’s BUA Group, which commands an impressive investment of $7.1 billion within the Exchange.

The Nigerian industrial sector has undergone significant transformation since the 1980s, propelled by noteworthy industrial magnates who have risen from Nigerian roots.

These visionary entrepreneurs, who wield considerable influence within the Nigerian Exchange, have established formidable enterprises and conglomerates, providing employment opportunities for countless Nigerians. Aliko Dangote, Abdul Samad Rabiu, Fidelis Ayebae, and John Coumantaros are among these trailblazers.

Aliko Dangote Leads the Way

Occupying the foremost position is Aliko Dangote, not only Nigeria’s but also Africa’s wealthiest individual, and the esteemed Chairman of the Dangote Group.


His wealth, estimated at $7.3 billion, underscores his prominence within the Nigerian Exchange. Following closely is Abdul Samad Rabiu, the Chairman of BUA Group.

Reports indicate that their substantial contributions have played a pivotal role in elevating Nigeria’s Gross Domestic Product (GDP), effectively propelling the Nigerian equity market to new heights.

Many of the companies under their umbrella are listed on the Nigerian Exchange, allowing the public to partake in their success.

Aliko Dangote’s Holdings on the Nigerian Exchange Group amount to $7.3 billion. His major holdings include Dangote Cement, Dangote Sugar, NASCON, Jaiz Bank, and UBA. Dangote’s business entities dominate the Nigerian Exchange, with an impressive 86.81% ownership of Dangote Cement, the preeminent cement company in Africa and a dominant player on the Nigerian Exchange.

His considerable stakes in Dangote Sugar (72.7%) and NASCON Allied Plc (66.5%) further solidify his position as a frontrunner on the Exchange.

Additionally, Dangote holds a notable 7.23% stake in the Islamic banking powerhouse, Jaiz Bank. He maintains a significant shareholding in United Bank for Africa (UBA), holding 301,971,608 shares.


Abdul Samad Rabiu’s Holdings follows suite

Abdul Samad Rabiu
Abdul Samad Rabiu, chief executive officer of BUA Group, at the Africa CEO Forum in Abidjan, Ivory Coast, on Monday, June 13, 2022. 1,500 business leaders, investors and policy makers from Africa and around the world meet for the annual two-day summit. Photographer: Andrew Caballero-Reynolds/Bloomberg via Getty Images

Abdul Samad Rabiu’s Holdings on the Nigerian Exchange Group total $7.1 billion. His principal investments include BUA Sugar and BUA Cement. As the Chairman of BUA Group, Rabiu’s commanding 96.29% stake in BUA Cement positions him as a robust competitor within the Exchange.

Furthermore, his substantial ownership of 92.6% in BUA Foods, a consumer goods industry titan, significantly contributes to his impressive $7.1 billion valuation within the Nigerian Exchange.

John Coumantaros Holds Prominent Position


Among these luminaries is John Coumantaros, a Greek entrepreneur and millionaire. He retains a noteworthy $99.5 million investment within the Nigerian Exchange Group, primarily through his dominant holdings in Flour Mills of Nigeria.

John Coumantaros
John Coumantaros, chairman of Nigerian Bag Manufacturing Co., speaks during the U.S. Africa Business Forum in New York, U.S., on Wednesday, Sept. 21, 2016. The forum focuses on trade and investment opportunities on the continent for African heads of government and American business leaders. Photographer: Michael Nagle/Bloomberg via Getty Images

Coumantaros’ ownership of approximately 63.3% equity in Flour Mills Nigeria Plc, facilitated by his enterprise Excelsior Shipping Company Limited, showcases his substantial involvement in the Nigerian industrial arena. The value of his stake currently stands at N76.6 billion.

Fidelis Ayebae’s Notable Holdings

Fidelis Ayebae, a pivotal figure in the Nigerian healthcare sector, holds investments totaling $13.83 million on the Nigerian Exchange Group. His major holdings encompass Fidson Healthcare Plc, an entity he established in 1995.

Under Ayebae’s guidance, Fidson has transformed into a healthcare powerhouse, serving as the preeminent medicine producer in Nigeria. As one of only three leading healthcare product manufacturers in the country, Fidson Healthcare Plc commands a substantial valuation of N10.63 billion.

Samuel Bolarinde’s Impactful Investments

Samuel Bolarinde, an influential industrialist, boasts investments valued at $4.4 million within the Nigerian Exchange Group.His most significant holdings are observed in Vitafoam Nigeria Plc, where he commands a substantial shareholding of N3.4 billion.

Bolarinde’s diversified investments extend to Wema Bank and Nigerian Breweries. His contributions within the Nigerian Exchange Group establish him as a prominent figure within Africa’s largest economy.


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