Market capitalisation of BUA Foods Plc, owned by Nigeria’s second richest man, Abdul Samad Rabiu, has soared to N10.3 trillion as of Friday, August 8, following an 8.7 percent rise in its share price to N574.9, making it the most valuable stock on the country’s bourse.
This historic feat came barely one week after the fast-moving consumer goods giant recorded the highest profit in six years, supported by a 36 percent rise in revenue to N913 billion and a stable naira that returned the manufacturer to FX gain after swimming in losses in the past year.
BUA Foods has effectively surpassed MTN Nigeria, which closed trading on Friday at N10.1 trillion market capitalisation after it became the most capitalised stock on August 1, 2025.
