Table of Contents
Key Points
- BUA Foods’ market value surged from $4.88 billion to $6.76 billion in 2025, surpassing MTN Nigeria and Dangote Cement.
- First-half 2025 revenue rose 36% to $596 million; net profit doubled to $170 million, driven by strong sales and cost management.
- Abdul Samad Rabiu’s net worth hits $7.3 billion, fueled by BUA Foods’ rise as Nigeria’s most valuable publicly traded company.
BUA Foods, the Lagos-based food company largely owned by billionaire Abdul Samad Rabiu, has risen to become the most valuable company on the Nigerian Exchange (NGX). It is now the only Nigerian firm with a market capitalization exceeding N10 trillion, overtaking established giants such as MTN Nigeria, the telecom leader, and Dangote Cement, the country’s biggest cement producer controlled by Aliko Dangote.
The company’s growth over the past seven months has been remarkable. Since the start of 2025, BUA Foods’ share price has climbed by 38.5 percent, lifting its market value from N7.46 trillion ($4.88 billion) to an impressive N10.34 trillion ($6.76 billion). This increase, nearly N2.9 trillion ($1.88 billion), speaks to the confidence investors have in the company, even as Nigeria’s economy continues to face challenges.
BUA tops Nigerian stock exchange
BUA Foods has earned its reputation by focusing on a wide range of essential food products. Its portfolio includes well-known brands like BUA Sugar Refinery, BUA Oil Mills, IRS Flour, IRS Pasta, and BUA Rice. This diversity shows how the company plays a key role in Nigeria’s food supply and industrial sectors.
Ownership remains largely in the hands of Abdul Samad Rabiu and his son, Isyaku Naziru Rabiu, who together control 94.25 percent of the company. Rabiu himself holds 92.63 percent, while Isyaku Naziru owns 1.62 percent, equivalent to 291.34 million shares. This close family ownership has helped provide steady leadership and a clear sense of purpose that has delivered consistent results.
Currently, BUA Foods leads the NGX in market capitalization with $6.76 billion. MTN Nigeria is second with N9.66 trillion ($6.31 billion), while Dangote Cement is third at N9.57 trillion ($6.25 billion). This new ranking highlights a shift in Nigeria’s capital markets, with a locally grown food manufacturer now ahead of the nation’s biggest telecom and cement companies.
Strong sales drive financial gains
The company’s strong valuation is backed by solid business performance. Its unaudited financial results for the first half of 2025 show revenue of N912.5 billion ($596 million), a 36 percent increase from N672.4 billion ($439.2 million) during the same period last year. This growth reflects steady demand across all product lines and highlights the strength of its diverse offerings in a competitive market.
Net profit more than doubled, rising from N130.9 billion ($85.5 million) in the first half of 2024 to N260 billion ($169.8 million) this year. The company credits this jump to increased sales, smart pricing strategies, and reduced finance costs, a sign of effective management and disciplined financial planning.
BUA Foods’ financial position is strengthened by growth in assets, which rose from N1.09 trillion at the end of 2024 to N1.33 trillion ($869 million) by mid-2025. Retained earnings increased from N421 billion ($275 million) to N681 billion ($445 million), while equity grew from N429 billion ($280.4 million) to N681.1 billion ($445 million). These numbers show a solid balance sheet, giving confidence and providing a foundation for future investments.
Rabiu’s net worth climbs to $7.3 billion
This strong performance has raised Abdul Samad Rabiu’s net worth to $7.3 billion, according to Forbes. His standing among Africa’s leading entrepreneurs highlights not just his sharp business skills, but also the important role BUA Foods plays in Nigeria’s industrial development.
In a period when many companies are dealing with uncertainty caused by global market changes and economic challenges, BUA Foods’ rise as Nigeria’s most valuable company reflects steady progress, thoughtful diversification, and clear leadership.
As Abdul Samad Rabiu’s food business expands, its growing presence on the Nigerian Exchange offers a positive sign of confidence in the country’s manufacturing sector and a hopeful look at how the economy is shifting.
