Nigeria’s industrial and financial sectors witnessed renewed collaboration as key industry leaders reaffirmed their commitment to driving long-term economic growth through strategic partnerships and expanded financing support for local manufacturing.
The Founder and Chairman of BUA Group, Abdul Samad Rabiu, hosted the Chairman of United Bank for Africa, Tony Elumelu, alongside senior executives of the bank at the BUA corporate headquarters in Lagos.
The high-level meeting focused on strengthening financing frameworks to support large-scale manufacturing, enhance domestic production capacity, and unlock new opportunities across sectors such as food processing, infrastructure development, and export-driven value chains.
Brandspur Banking News Desk reports that the engagement reflects a long-standing relationship between both institutions, built over decades and anchored on a shared vision of aligning capital with industrial growth to deliver sustainable economic value across Nigeria and the wider African market.
Rabiu noted that the partnership has evolved over nearly three decades, transitioning from early engagements with legacy financial institutions into a stable and mutually beneficial relationship with UBA that continues to support BUA’s expansion and operational growth.
Elumelu, in his remarks, emphasised the importance of institutional collaboration in scaling African enterprises, highlighting that access to structured capital remains critical in enabling companies to expand production, improve efficiency, and compete globally.
The meeting comes at a time when Nigeria’s economic landscape is increasingly shaped by indigenous conglomerates leveraging strong banking relationships to fund expansion and deepen investments in key sectors of the economy.
In a related development, BUA Foods released its audited financial results for the year ended December 31, 2025, reporting a revenue of N1.77 trillion, representing a 16 per cent increase from N1.53 trillion recorded in the previous year.
The company’s performance was driven by strong demand across its core product lines, including sugar, flour, pasta, and rice, alongside continued execution of its capacity expansion strategy and supply chain optimisation efforts.
Profit after tax rose sharply by 95 per cent to N518.4 billion, compared to N265.99 billion in 2024, while gross profit increased to N737.26 billion, reflecting improved operational efficiency and market penetration.
Earnings per share also climbed to N28.80, underscoring the company’s strengthened earnings position and overall financial performance during the reporting period.
The Board of BUA Foods proposed a dividend of N28 per share, marking a significant increase from N13 per share in the previous year, with total dividend payout estimated at N504 billion, subject to shareholder approval.
Total assets expanded by 27 per cent to N1.39 trillion, while cost of sales stood at N1.037 trillion, reflecting continued investment in production capacity and infrastructure across its value chain.
Chairman of BUA Foods, Abdul Samad Rabiu, said the results demonstrate disciplined growth, noting that the company remains focused on expanding local production, strengthening operational capacity, and delivering consistent returns to shareholders.
Managing Director of the company, Engr. Ayodele Abioye, added that ongoing investments in capacity expansion and supply chain efficiency are positioning the business to meet rising demand and sustain its growth trajectory in the coming years.
The convergence of strong financial performance and deepened collaboration between industrial and banking leaders highlights a broader trend in Nigeria’s economy, where strategic partnerships are increasingly shaping industrial expansion, capital mobilisation, and long-term value creation.
