Rabiu, Elumelu deepen partnership as BUA Foods hits N1.77trn revenue

Nigeria’s industrial and financial leaders are strengthening a long-running collaboration as BUA Group Chairman, Abdul Samad Rabiu, hosted United Bank for Africa (UBA) Chairman, Tony Elumelu, and his executive management team at the Group’s Lagos headquarters.

The meeting highlighted a nearly three-decade relationship that has supported large-scale industrial growth, from the era of Standard Trust Bank to UBA’s current role in financing major manufacturing and infrastructure projects across Nigeria.

Rabiu described the partnership as one built on shared conviction rather than transactions.
“Enduring partnerships are not built on transactions, but on conviction,” he said. “What we have built with UBA and the Nigerian financial industry is a shared understanding of where Nigeria is going and what it will take to get there.”

Elumelu reaffirmed UBA’s commitment to supporting Nigerian-led industrial expansion.
“Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution,” he noted. “Our role is to continue enabling that scale and supporting enterprises reshaping the Nigerian economy.”

The engagement comes at a time when Nigeria’s growth is increasingly driven by indigenous industrial capacity, improved government policies, and deeper investment in real sectors.

BUA Foods Posts Strong 2025 Results

In a parallel development, BUA Foods released its audited financial results for 2025, recording revenue of N1.77 trillion—up 16% from N1.53 trillion in 2024. The growth was driven by sustained demand across its sugar, flour, pasta and rice segments.

Gross profit rose sharply to N737.26 billion from N540.82 billion, while profit after tax nearly doubled to N518.4 billion, representing a 95% increase from N265.99 billion the previous year.

Earnings per share climbed to N28.80, reinforcing the company’s strong profitability profile. The Board has proposed a dividend of N28 per share—up 115% from N13 in 2024—amounting to a total payout of N504 billion, pending shareholder approval.

Total assets grew by 27% to N1.39 trillion, supported by continued investment across the company’s supply chain and operations. Cost of sales stood at N1.037 trillion.

Rabiu said the results reflect disciplined growth and long-term positioning.
“Our 2025 performance reflects a business that is not only growing, but scaling with discipline,” he said. “We are deepening local production and delivering consistent value to shareholders.”

Managing Director Engr. Ayodele Abioye added that the company will continue expanding capacity and strengthening market presence to meet rising demand.

The strengthened relationship between BUA Group and UBA—combined with BUA Foods’ record performance—signals the increasing role of large indigenous institutions in shaping Nigeria’s next phase of industrial and economic growth.