BUA Group and United Bank for Africa (UBA) are in talks to expand financing frameworks for manufacturing and infrastructure as part of efforts to deepen a long-standing partnership that has supported enterprise growth over the years.
The move comes as Abdul Samad Rabiu, founder and chairman of BUA Group, hosted Tony Elumelu, chairman of UBA, and his executive management team at the company’s headquarters in Lagos.
In a statement on Tuesday, the group said engagement brought together two institutions whose alignment of capital and industrial capacity has consistently translated into scale, execution, and long-term value creation across Nigeria and Africa’s economy.
“At the centre of discussions was a renewed push to expand financing frameworks for large-scale manufacturing, deepen support for domestic production, and unlock the next phase of growth across food, infrastructure, and export-oriented value chains,” BUA Group said.
Rabiu, reflecting on a relationship spanning nearly three decades, traced its evolution from the early days of Standard Trust Bank to its present form as a mature, trusted partnership with UBA.
“Enduring partnerships are not built on transactions, but on conviction,” he said.
“What we have built with UBA and the Nigerian financial industry over the years is a shared understanding of where Nigeria is going and what it will take to get there. That alignment remains as strong today as it was at the beginning.”
Also speaking, Elumelu underscored the strategic importance of the relationship, positioning it within a broader vision of African-led growth.
“Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution,” UBA chairman said.
“Our role is to continue enabling that scale, supporting enterprises that are not only growing, but reshaping the Nigerian economy.”
BUA FOODS POSTS N1.77TRN REVENUE
In a related development, BUA Foods, a subsidiary of BUA Group, has released its audited results for the financial year ended December 31, 2025, posting revenue of N1.77 trillion.
The company said the figure represents a 16 percent increase from N1.53 trillion recorded in 2024.
According to the statement, the performance reflects sustained demand across its core segments including sugar, flour, pasta, and rice, alongside continued execution of its expansion strategy.
Gross profit rose to N737.26 billion from N540.82 billion, while profit after tax surged by 95 percent to N518.4 billion, compared to N265.99 billion in the previous year.
“Earnings per share increased to N28.80, reinforcing the strength of the Company’s earnings profile,” the statement said.
“In line with its commitment to shareholder value, the Board has proposed a dividend of N28 per share, representing a 115 per cent increase from N13 in 2024, with a total proposed payout of N504 billion, subject to shareholder approval.
“Cost of sales stood at N1.037 trillion, while total assets grew by 27 per cent to N1.39 trillion, reflecting sustained investment across operations and the broader value chain.”
Commenting on the results, Rabiu said the company’s performance reflects disciplined growth and long-term positioning.
“Our 2025 performance reflects a business that is not only growing, but scaling with discipline,” he said.
“We are building capacity, deepening local production, and delivering consistent value to shareholders, all while positioning for the future.”
Also speaking, Ayodele Abioye, managing director of BUA Foods, said the company remains focused on expanding capacity and strengthening its market presence.
“The demand signals are strong, and we are well positioned to sustain this momentum,” Abioye said.
BUA Group said the engagement with United Bank for Africa (UBA), together with BUA Foods’ performance, reflects a broader shift in Nigeria’s economic trajectory.
