The BUA Group was founded by Nigerian billionaire businessman and philanthropist, Alhaji Abdul Samad Rabiu in the year 1988.
There are two wings of the company’s production line; food and infrastructure. The conglomerate now stands as an independent company spearheaded by the BUA Group, following a consolidation of its food business on December 8th, 2021. This saw the promising company rise to being one of the top food producers in West Africa.
Her Pasta and Flour Plant alone is the largest in Nigeria, producing an average of 276,000 tons per annum.
The food businesses that were merged into BUA Foods are BUA Sugar Refinery Limited, BUA Rice Limited, BUA Oil Mills Limited, IRS Flour, and IRS Pasta. Her two sugar refineries in Lagos and Port Harcourt respectively have a total combined installed refining capacity of 1,500,000 metric tonnes.
BUA Foods was formally approved to be listed on the Nigerian Stock Exchange (NSE) in January 2022.
BUA Foods presently sits comfortably on the Nigerian Exchange Limited as the sixth most valuable stock, with a market capitalization of NGN 1.11 trillion, which is about 4.34% of the Nigerian Stock Exchange equity market.
Perhaps one of the reasons for the popularity and high demand of this company is her affordability in the midst of other competing giant rivals like the Dangote Group.
The company’s representative in the Northern Region, Alhaji Muhammadu Adakawa, disclosed recently that the company will not be increasing the price of products during the Ramadan period.
This statement was made in a bid to placate the groans that have been raised by concerned consumers, following the recent trend of price increment initiated by many other food companies.
In infrastructure, the group majors in four areas; Cement, Real estate, Mines & Steel and Ports.
Cement is the most popular BUA Group product. The company is the largest producer of cement in the Northwest region and second-largest in Africa.
Sequel to the consolidation of her cement operations and listing on the Nigerian Stock Exchange, the BUA Cement PLC became the largest cement producer in Northwest Nigeria, and second-largest in the Nigerian market.
Production at this company received a boost when President Muhammadu Buhari commissioned the 3 million metric tonnes per annum BUA Cement Sokoto Line 4 factory. Plans are underway to complete two more plants each — in Sokoto and Edo states, respectively. The company now has a combined total of 11 MTPA Cement production, with 3 million tonnes expected to come on board by 2023.
In the area of mines and steel, through BUA Iron & Steel Limited, plans are underway to establish the first steel mill in West Africa. The mill, upon completion, is expected to have a production capacity of 2.5 MTPA in its second phase.
BUA Group, in a bid to improve ports logistics is into ports operations through her subsidiary, BUA Ports & Terminals. It offers berthing vessels, cargo discharge, storage and delivery.
Lastly, the group is into the Real Estate business to meet growing housing demands. This includes commercial and residential portfolios of this subdivision. The Estates are located in major places like the FCT and Lagos.
Today, BUA Group is by far one of the richest in Africa. With a net worth of $7 billion, the founder of the group, Alhaji Rabiu Abdulsamad now ranks the 5th richest man in Africa on the Forbes List, 2022.
