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BUA Foods, controlled by billionaire Abdulsamad Rabiu, approved a record $363 million dividend and unveiled an expansion plan to become Nigeria's largest food manufacturer.
BUA Foods posted $103 million profit in Q1 2026, up from $99 million a year earlier, even as revenue fell 11%, with cost control doing the heavy lifting.
BUA Foods has proposed a record N504 billion dividend after profit nearly doubled in 2025, with founder Abdul Samad Rabiu set to pocket about $323 million.
Industrialist Abdul Samad Rabiu sees his fortune climb to $14.6 billion as strategic manufacturing expansions and high demand drive BUA Group growth.
Abdul Samad Rabiu is now Africa's third richest person. His $11.2 billion fortune surged 120% in a year, powered by BUA Cement's blistering stock rally.
BUA Foods has appointed Khalifa Rabiu to lead global procurement and operations, reinforcing its focus on supply chain efficiency and operational performance
Abdul Samad Rabiu signs a new deal in Dubai to build a 32-tonnes-per-hour rice processing line as BUA Foods’ earnings surge.
Abdul Samad Rabiu’s net worth falls $301 million in 24 hours after debt revaluation, trimming his fortune to $7.5 billion.
The company said it is accelerating its Backward Integration Project (BIP) in line with the federal government’s extended Sugar Master Plan 2.0.
BUA Foods tops Nigerian Exchange with $6.76 billion valuation; revenue grows 36%, net profit doubles in first half of 2025.
BUA Foods posts $596 million revenue, $169.8 million profit in H1 2025 as sugar, flour, and pasta drive strong gains.
This dividend, which will be paid on September 25, is the lion’s share of the proposed N234 billion ($152.43 million) payout for the year.
The company’s profit more than doubled, reaching over $180 million, underscoring its growing influence and market presence in Nigeria’s food sector.
BUA Foods Plc, one of Nigeria's top food producers, reports a 104-percent increase in revenue to N1.07 trillion ($647 million) for the nine months ending September 2024, driven by strong demand for sugar, flour, and pasta amid challenging economic conditions.
The agreement will see BUA Foods more than double its current output from 400,000 tonnes to 900,000 tonnes per year.
