BUA Foods, Cement Report Revenue Growth, Higher Dividends

Shareholders commented on the corporate governance leadership style of BUA Group chairman, Abdul Samad Rabiu, noting his approach to staff and stakeholders’ welfare.

Shareholders said Rabiu has translated private enterprise and wealth into public benefits.

This includes opening companies for public ownership, employee compensation and welfare schemes, and customer programs.

They noted Rabiu’s shareholders’ return record and consideration for public good in products’ pricing and advocacy.

Two BUA Group members, BUA Cement Plc and BUA Foods Plc, rank among the largest companies on the Nigerian stock market, with a combined market capitalisation of about N26 trillion. BUA Foods is Nigeria’s largest publicly quoted food manufacturing company and the nation’s second largest quoted company. BUA Cement is the country’s second-largest cement company and one of the top five quoted companies.

President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, shareholders cited the gifting of about N30 billion or $21 million to 510 long-serving employees.

Umar said corporate leaders can note Rabiu’s approach to running companies, treating employees, dealing with customers, and handling shareholders. He noted that Rabiu’s investments in food and cement manufacturing support Nigeria’s economic development. BUA Group’s investment in a petroleum refinery aims to support Nigeria’s energy independence.

Umar, who represents minority retail shareholders on the board of the Nigerian Exchange (NGX), noted BUA Group’s strong corporate governance compliance record, including inclusive and sustainable growth.

Shareholders stated they would continue to support corporate leaders who prioritise people’s welfare while investing in national economic development.

The statement follows the release of audited reports and accounts of BUA Group’s companies and dividend recommendations. BUA Foods declared a final dividend of N28 per share, compared to N13 paid for the 2024 business year. BUA Cement is paying N10 dividend per share, compared to N2.05 paid for 2024.

For the audited reports and accounts ending December 31, 2025, BUA Foods recorded group revenue of N1.77 trillion, up from N1.53 trillion in 2024. Profit before tax rose from N284.32 billion to N521.53 billion. Net profit after tax increased from N266 billion in 2024 to N518.39 billion in 2025.

BUA Cement recorded a total turnover of N1.18 trillion in 2025, up from N876.47 billion in 2024. Profit before tax rose from N99.63 billion to N465.28 billion. Profit after tax increased to N356.04 billion in 2025 from N73.91 billion in 2024.