Rabiu, Elumelu Deepen Strategic Alliance In As BUA Foods Hits N1.77tn Revenue, Declares N28 Dividend
By Rashidat Olushola Okunlade
Nigeria’s industrial and financial landscape witnessed a renewed alignment of capital and enterprise as Abdul Samad Rabiu, Founder and Chairman of BUA Group, hosted Tony Elumelu, Chairman of United Bank for Africa, alongside his executive management team at the conglomerate’s corporate headquarters in Lagos.
The high-level engagement underscored a longstanding partnership between two institutions whose collaboration has significantly contributed to enterprise growth, industrial expansion, and capital mobilization across Nigeria and the African continent.
Beyond a routine visit, the meeting focused on strengthening financing frameworks for large-scale manufacturing, enhancing domestic production capacity, and unlocking growth opportunities across critical sectors, including food production, infrastructure, and export-driven value chains.
Reflecting on a relationship spanning nearly three decades, Rabiu traced its roots to the early days of Standard Trust Bank, emphasizing the enduring trust and shared vision that have sustained the partnership.
“Enduring partnerships are not built on transactions, but on conviction. What we have built with UBA and the Nigerian financial industry reflects a shared understanding of Nigeria’s trajectory and the requirements for long-term growth,” Rabiu stated.
Elumelu, on his part, highlighted the strategic significance of the collaboration within the broader context of African economic transformation.
“Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution. Our role remains to enable that scale and support enterprises reshaping the Nigerian economy,” he said.
BUA Foods Delivers Record Performance
In a parallel development that reinforces the scale of BUA’s industrial footprint, BUA Foods Plc announced its audited financial results for the year ended December 31, 2025, posting revenue of N1.77 trillion, representing a 16 percent increase from N1.53 trillion recorded in 2024.
The growth was driven by sustained demand across its core product segments, including sugar, flour, pasta, and rice, alongside continued execution of its expansion strategy.
Key performance highlights include:
Gross Profit: N737.26 billion (up from N540.82 billion)
Profit After Tax: N518.4 billion (up 95% from N265.99 billion)
Earnings Per Share: N28.80
Total Assets: N1.39 trillion (up 27%)
The company also proposed a dividend of N28 per share, marking a 115 percent increase from N13 declared in 2024, with a total payout of approximately N504 billion, subject to shareholder approval.
Commenting on the results, Rabiu noted:
“Our 2025 performance reflects a business that is not only growing, but scaling with discipline. We are expanding capacity, deepening local production, and delivering consistent shareholder value.”
Managing Director, Ayodele Abioye, added that the company remains focused on strengthening its supply chain and expanding market presence to sustain growth momentum.
Capital Meets Industrial Scale
The convergence of BUA Group and UBA, alongside BUA Foods’ record-breaking performance, reflects a broader shift in Nigeria’s economic trajectory, one increasingly driven by indigenous institutions combining capital strength, operational discipline, and long-term strategic vision.
Analysts note that such alignments are critical to accelerating Nigeria’s industrialisation agenda, particularly at a time when domestic production, infrastructure investment, and export capacity are central to economic resilience and growth.
