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| ASR TOS Press 002 L-R: Mr. Oliva Alawuba, Group Managing Director/CEO, UBA Plc; Abdul Samad Rabiu (CFR, CON), Executive Chairman, BUA Group; Tony Elumelu (CFR), Chairman, UBA Plc; and Kabiru Rabiu, Group Executive Director, BUA Group during the courtesy visit by the UBA executive management. |
Nigeria’s industrial and financial landscape witnessed a significant moment of alignment as Abdul Samad Rabiu, Founder and Chairman of BUA Group, hosted Tony Elumelu, Chairman of United Bank for Africa, alongside his executive management team at BUA Group’s corporate headquarters in Lagos.
The meeting went beyond a routine visit, reflecting a long-standing partnership that has consistently driven enterprise growth, capital expansion, and industrial development across Nigeria and Africa. At the centre of discussions was a renewed push to expand financing for large-scale manufacturing, deepen support for domestic production, and unlock new growth opportunities across food, infrastructure, and export-oriented value chains.
Rabiu, reflecting on a relationship spanning nearly three decades, emphasized that enduring partnerships are built on conviction and a shared understanding of national growth priorities. Elumelu also highlighted the importance of aligning long-term capital with disciplined execution, noting that institutions like BUA Group demonstrate what is possible when strategic vision meets operational strength.
The engagement signals a broader convergence between capital and industry, especially at a time when Nigeria’s economic growth is increasingly driven by indigenous companies with the scale and capacity to compete globally.
In a parallel development, BUA Foods Plc released its audited results for the year ended December 31, 2025, posting revenue of ₦1.77 trillion, a 16 per cent increase from ₦1.53 trillion recorded in 2024. The growth reflects sustained demand across its core segments, including sugar, flour, pasta, and rice, alongside continued execution of its expansion strategy.
Gross profit rose to ₦737.26 billion from ₦540.82 billion, while profit after tax surged by 95 per cent to ₦518.4 billion, compared to ₦265.99 billion in the prior year. Earnings per share increased to ₦28.80, further reinforcing the strength of the company’s earnings profile.
In line with its commitment to shareholder value, the Board proposed a dividend of ₦28 per share, representing a 115 per cent increase from ₦13 in 2024, with a total payout of ₦504 billion, subject to shareholder approval. Cost of sales stood at ₦1.037 trillion, while total assets grew by 27 per cent to ₦1.39 trillion, reflecting sustained investment across operations and the broader value chain.
Commenting on the results, Rabiu stated that the company is not just growing but scaling with discipline, focusing on expanding capacity, deepening local production, and delivering consistent value to shareholders. The Managing Director, Ayodele Abioye, added that the company remains well-positioned to sustain its growth momentum through capacity expansion and supply chain optimisation.
Taken together, the strategic engagement between BUA Group and UBA, alongside the strong performance of BUA Foods Plc, highlights a broader shift in Nigeria’s economic direction, driven by institutions that combine scale, capital discipline, and long-term vision.
About BUA Group
BUA Group is one of Africa’s leading manufacturing, mining, foods, and infrastructure conglomerates headquartered in Lagos, Nigeria. Established in 1988 by Abdul Samad Rabiu, the Group has significant investments in cement manufacturing, construction, real estate, plaster production, quarrying, and mining.
Media Contact:
Corporate Communications
BUA Group
Email: info@buagroup.com
Website: www.buagroup.com
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