Corporate Africa · Funding signal

Africa’s third-richest man is spending $85 million to expand Nigeria’s ports for BUA’s next growth phase

Africa’s third-richest man is spending $85 million to expand Nigeria’s ports for BUA’s next growth phase — the desk wire, 1 August 2026. BUA Group, the Nigerian conglomerate headed by Africa’s third-richest billionaire, Abdul Samad Rabiu, is investing $85 million to expand its Port Harcourt port terminal, positioning the facility to handle more than 2 million tonnes of imported raw materials annually as the conglomerate scales up its food manufacturing business.

Updated 1 August 2026 · First published 1 August 2026

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