Rabiu, Elumelu strengthen partnership as BUA Foods posts N1.77trn revenue, N28 dividend

Nigeria’s leading industrial and financial players are deepening collaboration to drive large-scale economic growth, as Founder and Chairman of BUA Group, Abdul Samad Rabiu, hosted the Chairman of United Bank for Africa (UBA), Tony Elumelu, and his executive team in Lagos.

The high-level meeting, held at BUA Group’s corporate headquarters, focused on strengthening financing frameworks for large-scale manufacturing, boosting domestic production, and unlocking new growth opportunities across food, infrastructure, and export-oriented sectors.

Industry observers say the engagement reflects a long-standing relationship between both institutions, built over nearly three decades, and signals a renewed push to align capital with industrial expansion in Nigeria and across Africa.

Speaking during the meeting, Rabiu described the partnership as one anchored on shared vision and long-term commitment rather than transactional interests.

“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,” he said.

On his part, Elumelu emphasised the importance of sustained financial support for indigenous enterprises, noting that institutions like BUA Group demonstrate the impact of aligning capital with disciplined execution.

“Our role is to continue enabling that scale, supporting enterprises that are not only growing, but reshaping the Nigerian economy,” he said.

The renewed collaboration comes at a time when Nigeria’s growth trajectory is increasingly being driven by local industries, backed by investment in real sectors and expanding production capacity.

In a related development, BUA Foods reported a strong financial performance for the year ended December 31, 2025, underscoring the scale of its operations.

The company posted a revenue of N1.77 trillion, representing a 16 per cent increase from N1.53 trillion recorded in 2024, driven by sustained demand across its key product lines, including sugar, flour, pasta, and rice.

Gross profit rose significantly to N737.26 billion from N540.82 billion, while profit after tax surged by 95 per cent to N518.4 billion, compared to N265.99 billion in the previous year.

Earnings per share also climbed to N28.80, reflecting improved profitability and operational efficiency.

In line with its performance, the company’s board proposed a dividend of N28 per share, marking a 115 per cent increase from N13 declared in 2024. The total proposed payout stands at N504 billion, subject to shareholder approval.

Further analysis of the results showed cost of sales at N1.037 trillion, while total assets grew by 27 per cent to N1.39 trillion, indicating continued investment across its value chain.

Commenting on the results, Rabiu said the company’s performance reflects disciplined growth and a focus on long-term value creation.

“Our 2025 performance shows a business that is scaling with discipline. We are expanding capacity, strengthening local production, and delivering consistent value to shareholders,” he said.

The Managing Director of BUA Foods, Ayodele Abioye, added that the company remains focused on expanding capacity, deepening market presence, and optimising its supply chain to sustain growth.

Analysts say the combined impact of the BUA-UBA partnership and BUA Foods’ record performance highlights a broader shift in Nigeria’s economy, where large indigenous firms are playing a central role in driving industrialisation, investment, and long-term economic stability.