By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: BUA Group: Nigeria’s diversified billion-dollar establishment
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
FeaturedOpinionTop stories

BUA Group: Nigeria’s diversified billion-dollar establishment

Farouk Mohammed
By Farouk Mohammed
Published: March 12, 2022
Share
4 Min Read
BUA Towers in Lagos
BUA Towers in Lagos
SHARE

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.

- Advertisement -

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.

- Advertisement -

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.

BUA Cement
BUA Cement

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.

Abdul Samad Rabiu
Alhaji Abdul Samad Rabiu

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.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Abdul Samad RabiuBUA FoodsBUA Group
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Cristiano Ronaldo was not in the starting team for Manchester United's match against Everton I don’t know If Ronaldo is happy at Manchester United – Rangnick
Next Article FCCPC, NITDA, ICPC crackdown on offices of online lenders in Lagos

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?