Nigeria’s leading industrialist Abdul Samad Rabiu and business mogul Tony Elumelu are deepening their long-standing partnership to accelerate industrial growth, as BUA Foods posts a record N1.77 trillion revenue.
Rabiu recently hosted Elumelu and his executive team at BUA Group headquarters in Lagos, reinforcing collaboration between industry and finance to drive large-scale economic expansion.
The meeting underscored a shared commitment to expanding financing for manufacturing, boosting local production, and unlocking growth across food, infrastructure, and export-driven value chains.
Reflecting on nearly three decades of partnership, Rabiu emphasized the importance of shared vision, noting that long-term success is built on alignment and conviction rather than transactions.
Elumelu, Chairman of United Bank for Africa, highlighted the role of financial institutions in supporting scalable enterprises, describing BUA Group as a model of what can be achieved when capital meets disciplined execution.
Meanwhile, BUA Foods reported strong financial results for the year ended December 31, 2025. Revenue rose by 16% from N1.53 trillion in 2024 to N1.77 trillion, while gross profit reached N737.26 billion. Profit after tax surged 95% to N518.4 billion, with earnings per share climbing to N28.80.
The company also proposed a dividend of N28 per share—up 115% from N13—bringing total payouts to N504 billion, pending shareholder approval.
Rabiu described the performance as a reflection of disciplined growth, capacity expansion, and a focus on delivering consistent value. Managing Director Ayodele Abioye added that strong demand and ongoing investments position the company to sustain its growth trajectory.
The strengthened alliance and impressive financial performance signal a broader shift in Nigeria’s economy, driven by institutions leveraging capital, scale, and long-term industrial vision.
