Nigeria’s industrial and financial heavyweights have moved to deepen a partnership that has quietly underpinned decades of enterprise growth, as the Founder and Chairman of BUA Group, Abdul Samad Rabiu, hosted the Chairman of United Bank for Africa (UBA), Tony Elumelu, and his executive management team at BUA Group’s corporate headquarters in Lagos.
More than a visit, the engagement brought together 2 institutions whose alignment of capital and industrial capacity has consistently translated into scale, execution, and long-term value creation across Nigeria and Africa.
At the centre of discussions was a renewed push to expand financing frameworks for large-scale manufacturing, deepen support for domestic production, and unlock the next phase of growth across food, infrastructure, and export-oriented value chains.
Rabiu, reflecting on a relationship that spans nearly 3 decades, traced its evolution from the early days of Standard Trust Bank to its present form as a mature, trusted partnership with UBA.
“Enduring partnerships are not built on transactions, but on conviction,” Rabiu said. “What we have built with UBA and the Nigerian financial industry over the years is a shared understanding of where Nigeria is going and what it will take to get there. That alignment remains as strong today as it was at the beginning.”
Elumelu underscored the strategic importance of the relationship, positioning it within a broader vision of African-led growth.
“Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution,” Elumelu said. “Our role is to continue enabling that scale, supporting enterprises that are not only growing, but reshaping the Nigerian economy.”
The meeting signals a continued convergence between capital and industry at a time when Nigeria’s growth story is increasingly being driven by indigenous scale, operational depth, positive government action, and sustained investment in real sectors.
In a parallel demonstration of that scale, BUA Foods, a BUA Group company, has released its audited results for the financial year ended Dec. 31, 2025, delivering revenue of N1.77Tn, a 16% increase from N1.53Tn in 2024.
The performance reflects sustained demand across its core segments, including sugar, flour, pasta, and rice, alongside continued execution of its expansion strategy.
Gross profit rose to N737.26bn, up from N540.82bn, while profit after tax surged by 95% to N518.4bn, compared to N265.99bn in the prior year.
Earnings per share increased to N28.80, reinforcing the strength of the company’s earnings profile.
In line with its commitment to shareholder value, the board has proposed a dividend of N28 per share, representing a 115% increase from N13 in 2024, with a total proposed payout of N504bn, subject to shareholder approval.
Cost of sales stood at N1.037Tn, while total assets grew by 27% to N1.39Tn, reflecting sustained investment across operations and the broader value chain.
Speaking on the results, BUA Foods Chairman Abdul Samad Rabiu said: “Our 2025 performance reflects a business that is not only growing, but scaling with discipline. We are building capacity, deepening local production, and delivering consistent value to shareholders, all while positioning for the future.”
Managing Director Engr. Ayodele Abioye added: “Our strategy remains to expand capacity, strengthen market presence, and optimise the full supply chain. The demand signals are strong, and we are well positioned to sustain this momentum.”
Taken together, the meeting between BUA Group and UBA, alongside BUA Foods’ record performance, points to a broader shift for Nigeria, one increasingly being shaped by institutions that combine scale, capital discipline, and long-term vision, representing not just expansion but a consolidation of industrial leadership.