BUA Group and UBA Strengthen Strategic Partnership to Drive Industrial Growth in Nigeria

Nigeria’s leading industrial and financial institutions are reinforcing a long-standing alliance as Abdul Samad Rabiu, Founder and Chairman of BUA Group, hosted Tony Elumelu, Chairman of United Bank for Africa, and his executive management team at the company’s corporate headquarters in Lagos.

More than a routine corporate visit, the engagement reflects a strategic partnership driving industrial growth in Nigeria, bringing together two institutions whose alignment of capital and industrial capacity has consistently enabled scale, execution, and long-term value creation across the Nigerian and African economies.

Deepening Financing for Manufacturing and Economic Growth

At the core of the discussions was a renewed focus on:

• Expanding manufacturing financing in Nigeria
• Strengthening support for domestic production
• Unlocking growth across food, infrastructure, and export-driven value chains

This alignment highlights the critical role of financial institutions in supporting industrialisation in Africa, particularly as Nigeria seeks to reduce import dependence and strengthen local production capacity.

A Partnership Built on Long-Term Vision

Reflecting on a relationship spanning nearly three decades, Rabiu traced its evolution from the early days of Standard Trust Bank to its current form as a mature and 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 is a shared understanding of where Nigeria is going and what it will take to get there.”

This long-term alignment underscores the importance of patient capital and strategic collaboration in Nigeria’s economic development.

Driving African-Led Growth Through Capital and Enterprise

Elumelu positioned the partnership within a broader vision of African-led economic transformation, emphasising the role of capital in scaling high-impact enterprises.

“Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution,” Elumelu noted. “Our role is to continue enabling that scale and supporting enterprises reshaping the Nigerian economy.”

The engagement reflects a growing trend where indigenous institutions are leading Africa’s industrial growth, supported by strong financial backing and operational depth.

BUA Foods Delivers Strong Financial Performance

In a parallel demonstration of this industrial momentum, BUA Foods reported robust financial results for the year ended December 31, 2025.

Key highlights include:

• Revenue growth to ₦1.77 trillion, up 16% from ₦1.53 trillion in 2024
• Gross profit increased to ₦737.26 billion
• Profit after tax surged by 95% to ₦518.4 billion
• Earnings per share rose to ₦28.80

The performance reflects sustained demand across core segments such as sugar, flour, pasta, and rice, alongside continued execution of expansion strategies.

Shareholder Value and Operational Expansion

In line with its commitment to delivering value, the Board proposed a dividend of ₦28 per share, representing a 115% increase from the previous year, with a total payout of ₦504 billion, subject to shareholder approval.

Total assets also grew by 27% to ₦1.39 trillion, underscoring continued investment across operations and the broader value chain.

Leadership Perspective on Growth and Scale

Rabiu described the results as a reflection of disciplined growth and long-term positioning.

“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.”

Managing Director Ayodele Abioye added:

“Our strategy remains focused on expanding capacity, strengthening market presence, and optimising the supply chain. Demand signals remain strong, and we are well positioned to sustain this momentum.”

A Broader Signal for Nigeria’s Economic Future

Taken together, the renewed partnership between BUA Group and UBA, alongside BUA Foods’ strong financial performance, signals a broader shift in Nigeria’s economic trajectory.

Growth is increasingly being driven by:

• Indigenous industrial capacity
• Strategic financial partnerships
• Long-term investment in real sectors

This convergence of capital, scale, and execution is not merely expansion—it represents a consolidation of industrial leadership in Nigeria.

As Nigeria navigates its next phase of economic development, partnerships like that between BUA Group and UBA highlight the critical role of collaboration between finance and industry.

In an environment where sustainable growth depends on both capital and execution, such alliances are set to play a defining role in shaping the future of Nigeria’s economy.