BUA Foods Advocates Real Sector Transformation For Nigeria’s Economic Future

The managing director of BUA Foods Plc, Ayodele Abioye, has called for real-sector transformation to drive the country’s economic development.

He stated this at the 2026 Industry Award Night organised by The Industry Newspaper, where BUA Foods was awarded as the Outstanding Consumer Goods (Foods) Company of the Year, held in Lagos.

Abioye underscored the vital role of real sector transformation in shaping Nigeria’s economic future.

In his presentation, titled ‘Unlocking Value: BUA Foods’ Role in Transforming Nigeria’s Real Sector through Innovation and Sustainability’, he highlighted the importance of focusing on value creation to drive long-term economic growth.

“The trajectory of Nigeria’s economy hinges on our ability to enhance production rather than solely focusing on consumption,” he asserted.

Abioye observed that while the non-oil sector contributes over 96 per cent to Nigeria’s GDP, growth patterns remain uneven.

He emphasised, “the necessity for increased investment in agriculture and manufacturing, indicating that sustainable economic progress must be founded on productivity, industrial capacity, and value addition.

“By showcasing BUA Foods as a model, he shared that the company has ramped up its production capacity by over 40 per cent in recent years and is poised for an additional 55 per cent growth. This scale is essential for enhancing food availability, diminishing reliance on imports, and fortifying national food security.”

Highlighting the company’s commitment to inclusive development, Abioye noted that BUA Foods has integrated thousands of smallholder farmers into its value chain through structured partnerships, created over 3,000 direct jobs, and supported over 10,000 participants nationwide across its supply chain.

While acknowledging the strides made, Abioye noted ongoing structural challenges, including infrastructure deficits and inconsistent policy implementation.

He stressed the need for a coordinated approach to align policy, capital, and execution.

“Investing significantly in local processing, enhancing value-chain integration, and cultivating globally competitive industrial platforms is critical,” he remarked.

He also recognised recent government reforms in agriculture, trade, and industrial policy as encouraging developments, stressing the importance of sustained coordination and effective execution to maximize their impact.

The convener of the summit and publisher of The Industry Newspaper, Goddie Efose, reinforced the importance of sustained collaboration between policymakers and industry leaders to accelerate Nigeria’s industrialisation.

As Nigeria navigates an increasingly complex economic landscape, BUA Foods’ recognition and expansion trajectory signal growing private sector confidence in the real economy, while reinforcing the broader imperative for coordinated action to unlock productivity, scale, and long-term national value