Rabiu and Elumelu spearhead manufacturing expansion as BUA Foods achieves N1.77 trillion turnover

Nigeria’s industrial and financial heavyweights, The Founder and Chairman of BUA Group, Abdul Samad Rabiu, and Chairman of United Bank for Africa, UBA Tony Elumelu have moved to deepen partnership to drive Nigeria’s industrial growth.

In line with the partnership, the Rabiu recently hosted Elumelu, and his executive management team at BUA Group’s corporate headquarters in Lagos.

The engagement brought together two institutions whose alignment of capital and industrial capacity has consistently delivered scale, execution, and long-term value creation across Nigeria and Africa’s economy.

At the center of discussions was a renewed push to expand financing frameworks for large-scale manufacturing, strengthen domestic production, and unlock growth across food, infrastructure, and export-oriented value chains.

Reflecting on a partnership spanning nearly three decades, Rabiu said: “Enduring partnerships are not built on transactions, but on conviction. 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. That alignment remains as strong today as it was at the beginning.”

Elumelu framed the relationship within a broader vision of African-led growth. “Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution. Our role is to continue enabling that scale, supporting enterprises that are not only growing but reshaping the Nigerian economy,” he said.

In parallel, BUA Foods released its audited results for the financial year ended December 31, 2025, delivering revenue of N1.77 trillion, a 16 percent increase from N1.53 trillion in 2024. Gross profit rose to N737.26 billion, while profit after tax surged 95 percent to N518.4 billion. Earnings per share increased to N28.80, and the Board proposed a dividend of N28 per share, up 115 percent from N13, totaling N504 billion, subject to shareholder approval.

Rabiu said, “Our 2025 performance reflects a business that is not only growing but scaling with discipline. We are building capacity, deepening local production, and delivering consistent value to shareholders.”

Managing Director Engr. Ayodele Abioye added, “Our strategy remains to expand capacity, strengthen market presence, and optimize the full supply chain.

Demand signals are strong, and we are well positioned to sustain momentum.”

The meeting and BUA Foods’ record performance highlight a broader shift in Nigeria’s growth story, driven by institutions combining scale, capital discipline, and long-term industrial vision.