Nigeria's leading figures in industry and finance have reinforced a strategic partnership crucial for decades of economic development. Abdul Samad Rabiu, Founder and Chairman of BUA Group, welcomed Tony Elumelu, Chairman of United Bank for Africa (UBA), along with his executive management team, to BUA Group's corporate office in Lagos.
The meeting, detailed in a statement on Tuesday, represented more than a courtesy visit; it brought together two major entities whose combined capital and industrial capabilities have consistently fostered significant growth and long-term value across Nigeria and the broader African economy.
The discussions centred on intensifying financial support mechanisms for extensive manufacturing projects, enhancing backing for local production initiatives, and unlocking further growth opportunities in sectors like food, infrastructure, and export-oriented value chains.
Reflecting on a collaborative relationship spanning nearly thirty years, Rabiu recounted its progression from the early days of Standard Trust Bank to its current status as a robust and dependable partnership with UBA.
"Enduring partnerships are not built on transactions, but on conviction," Rabiu stated. "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 emphasized the strategic significance of their alliance, framing it within a larger vision for self-driven African progress.
"Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution," Elumelu remarked. "Our role is to continue enabling that scale, supporting enterprises that are not only growing, but reshaping the Nigerian economy."
The meeting signifies a continued alignment between financial resources and industrial enterprise at a moment when Nigeria's economic expansion is increasingly propelled by domestic scale, operational depth, favourable government policies, and sustained investment in key economic sectors.
This development coincides with BUA Foods, a BUA subsidiary, announcing its audited financial results for the fiscal year ending December 31, 2025. The company reported revenues amounting to N1.77 trillion, marking a 16% increase from the N1.53 trillion recorded in 2024.
This performance reflects consistent demand across its primary product categories, including sugar, flour, pasta, and rice, coupled with the ongoing execution of its expansion plans.
Gross profit saw an upward movement to N737.26 billion, up from N540.82 billion, while profit after tax experienced a substantial surge of 95%, reaching N518.4 billion compared to N265.99 billion in the preceding year.
Earnings per share rose to N28.80, further underscoring the company's strong profitability.
In line with its dedication to enhancing shareholder value, the Board has proposed a dividend of N28 per share, a 115% increase from N13 in 2024, with an anticipated total payout of N504 billion, pending shareholder approval.
Cost of sales was reported at N1.037 trillion, and total assets expanded by 27% to N1.39 trillion, illustrating continuous investment across its operations and the broader supply chain.
Commenting on the financial outcomes, Rabiu expressed, "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."
The 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."
"Collectively, the meeting between BUA Group and UBA, alongside BUA Foods’ significant financial results, highlights a broader positive trajectory for Nigeria.
"Nigeria's economic advancement is increasingly being shaped by organizations that merge scale, financial prudence, and a long-term outlook, signalling not just expansion but a consolidation of industrial leadership," the statement concluded.
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