Lagos, Nigeria – Industrialist Abdul Samad Rabiu and financier Tony Elumelu have reaffirmed a long‑standing partnership between BUA Group and United Bank for Africa, following a high‑level meeting at BUA’s headquarters in Lagos.
The discussions focused on expanding financing frameworks for large‑scale manufacturing and deepening support for domestic production across food, infrastructure, and export‑oriented value chains.
Okay News reports that the visit marked more than a courtesy call, drawing together two institutions whose alignment of capital and industrial capacity has consistently driven scale and value creation on the continent. Rabiu traced the relationship from the early days of Standard Trust Bank to its current form, describing it as built on shared conviction about Nigeria’s trajectory rather than short‑term transactions. Elumelu positioned the collaboration within a broader vision of African‑led growth, stressing that institutions like BUA Group show what is possible when long‑term capital meets disciplined execution.
In parallel, BUA Foods Plc released its audited 2025 results, showing total revenue of N1.77 trillion, up 16% from N1.53 trillion in 2024. The figures underscore strong demand for sugar, flour, pasta, and rice, alongside ongoing execution of the company’s expansion strategy. Gross profit rose to N737.26 billion from N540.82 billion, while profit after tax surged 95% to N518.4 billion, compared with N265.99 billion the previous year. Earnings per share climbed to N28.80, reflecting a significantly stronger earnings profile.
The board has proposed a dividend of N28 per share, a 115% increase from N13 in 2024, with a total proposed payout of N504 billion subject to shareholder approval. Cost of sales stood at N1.037 trillion, while total assets grew 27% to N1.39 trillion, illustrating sustained investment across operations and the broader value chain. Rabiu said the 2025 performance reflects a business that is scaling with discipline, deepening local production, and delivering consistent returns. Managing Director Engr. Ayodele Abioye added that the strategy remains centred on expanding capacity, strengthening market presence, and optimising the supply chain.
Together, the Rabiu‑Elumelu meeting and BUA Foods’ results signal a broader trend: Nigeria’s growth is increasingly driven by home‑grown institutions that combine industrial scale, financial discipline, and long‑term vision. The alignment between BUA and UBA underpins a model of sustainable industrial expansion rather than one‑off headline gains.
