Rabiu’s Empire Sets New Wealth Record

BUA Group is set to reward shareholders with a combined N842.64 billion dividend from its two major listed subsidiaries—BUA Foods Plc and BUA Cement Plc—as part of a massive value-creation drive that underscores the conglomerate’s strong earnings performance.

The proposed payout represents almost a threefold increase from the N303.42 billion distributed in 2024, reflecting a sharp rise in profitability across both companies.

Shareholders have also praised the leadership style of BUA Group Chairman, Abdul Samad Rabiu, commending his focus on corporate governance, employee welfare, and stakeholder value creation. The Association for the Advancement of Rights of Nigerian Shareholders (AARNS) described his approach as exemplary and worthy of emulation across the corporate sector.

BUA Foods Plc, Nigeria’s largest publicly listed food manufacturing company and the second-largest quoted firm on the Nigerian Exchange, is expected to pay shareholders a record N504 billion dividend in 2025—almost double its previous payout.

BUA Cement Plc, the country’s second-largest cement producer and one of the top five listed companies by market value, will distribute N338.64 billion, translating to N10 per ordinary share.

Both subsidiaries have recorded strong financial growth, which underpins the improved dividend outlook.

For the year ended December 31, 2025, BUA Foods reported revenue of N1.77 trillion, up from N1.53 trillion in 2024. Profit before tax rose sharply from N284.32 billion to N521.53 billion, while net profit surged from N266 billion to N518.39 billion.

Similarly, BUA Cement posted revenue of N1.18 trillion in 2025 compared to N876.47 billion in 2024. Profit before tax climbed from N99.63 billion to N465.28 billion, while profit after tax jumped significantly to N356.04 billion from N73.91 billion.

In a separate development highlighting its employee-focused policies, Rabiu reportedly rewarded about 510 long-serving staff members with a total of N30 billion under a corporate incentive programme. The initiative saw five employees receive N1 billion each, while others received between N5 million and N500 million, depending on rank and length of service. The company also implemented a 50 percent salary increase for staff in 2024.

AARNS President, Faruk Umar, praised Rabiu’s leadership style, describing it as a model for corporate governance in Nigeria. He said the BUA chairman’s approach to employee welfare, customer relations, and shareholder value demonstrates a commitment to inclusive growth.

Umar noted that BUA Group’s expansion across food production, cement manufacturing, and its ongoing investment in a petroleum refinery reflects its growing role in Nigeria’s industrial development and economic self-sufficiency.

He further highlighted the group’s strong corporate governance practices, including transparent disclosures, consistent financial performance, and strategic diversification.

According to him, investors assess companies not only by profitability but also by governance standards, workforce management, and long-term sustainability—areas where BUA Group continues to perform strongly.

Umar added that shareholders will continue to support business leaders who prioritise human capital development and contribute meaningfully to Nigeria’s economic transformation.