Billionaire industrialist Abdul Samad Rabiu has reaffirmed BUA Group’s enduring partnership with United Bank for Africa, underscoring its role in powering industrial expansion and long-term economic growth.
Rabiu made this known while hosting UBA Chairman, Tony Elumelu, and his executive team at the group’s headquarters in Lagos, describing the relationship as one built on conviction rather than mere transactions.
Tracing the alliance back nearly three decades to the days of Standard Trust Bank, Rabiu said the collaboration has matured into a strategic platform for value creation, anchored on a shared vision for Nigeria’s development and the critical role of capital in sustaining growth.
“Elumelu and his team understand what it takes to build at scale. This is a partnership driven by long-term thinking and a commitment to national development,” he said.
Elumelu, in his remarks, praised BUA Group’s operational discipline and industrial reach, reiterating the bank’s commitment to backing transformative enterprises with patient capital.
“Our role is to enable scale by providing long-term financing to businesses that are reshaping the Nigerian economy,” he said.
Both parties explored ways to expand financing frameworks for large-scale manufacturing, with a focus on boosting domestic production and strengthening export-oriented value chains.
The renewed alliance comes amid strong financial performance by BUA Foods, which reported N1.77 trillion in revenue for 2025—a 16 per cent rise from N1.53 trillion in 2024.
Gross profit climbed to N737.26 billion from N540.82 billion, while profit after tax nearly doubled, surging 95 per cent to N518.4 billion. Earnings per share also rose significantly to N28.80, reflecting improved efficiency and profitability.
In line with the strong results, the board proposed a dividend of N28 per share, more than double the N13 paid in 2024, amounting to a total payout of N504 billion, subject to shareholder approval.
Further analysis showed cost of sales at N1.037 trillion, while total assets expanded by 27 per cent to N1.39 trillion, highlighting the company’s growing scale.
Rabiu attributed the impressive performance to sustained consumer demand for key staples such as sugar, flour, pasta, and rice, as well as the company’s aggressive expansion strategy.
“Our performance reflects disciplined growth, increased capacity, and a strong commitment to delivering value to shareholders,” he said.
Managing Director Ayodele Abioye added that the company is focused on expanding production capacity, deepening market penetration, and optimising its supply chain to sustain momentum.
He expressed confidence that strong market demand would continue to underpin growth in the years ahead.