BUA Group and United Bank for Africa (UBA) have expanded their financial collaboration to support large-scale manufacturing and domestic production in Nigeria. The development followed a meeting between BUA Group Chairman Abdul Samad Rabiu and UBA Chairman Tony Elumelu at the conglomerate’s Lagos headquarters, where executives reviewed financing frameworks for industrial expansion.
The engagement centers on aligning long-term capital with infrastructure, food processing, and export-driven sectors. Industry observers note that the relationship between the two organizations spans nearly three decades and reflects a continued focus on funding indigenous manufacturing projects across the region. During discussions, Rabiu described the alliance as a commitment to shared industrial objectives rather than short-term financial exchanges. Elumelu emphasized the role of commercial finance in sustaining large domestic enterprises, noting that banks remain focused on scaling companies that contribute to economic transformation.
The partnership announcement coincides with BUA Foods’ reported financial results for the fiscal year ended December 31, 2025. The listed food processing division recorded revenue of N1.77 trillion, a 16 percent increase from N1.53 trillion in 2024, driven by sustained demand for sugar, flour, pasta, and rice. Gross profit reached N737.26 billion, while profit after tax rose 95 percent to N518.4 billion. Earnings per share increased to N28.80, supported by operational efficiency and expanded output.
The board has proposed a dividend of N28 per share, up from N13 in the prior year, representing a total payout of N504 billion pending shareholder approval. The company’s total assets grew by 27 percent to N1.39 trillion, with cost of sales reported at N1.037 trillion. Management attributes the performance to consistent capacity expansion and supply chain optimization, with managing director Ayodele Abioye stating that operations will remain focused on deepening market presence and efficiency.
The coordinated efforts between the industrial group and the financial institution, combined with the subsidiary’s recent performance, highlight ongoing investment in Nigeria’s manufacturing and agricultural sectors. BUA Group and UBA have indicated that future financing activities will prioritize capital deployment for domestic production and regional trade infrastructure.
