Abdul Samad Rabiu’s BUA Foods profit doubles to $283m

BUA Foods Plc the Lagos-based food giant led by Nigerian billionaire Abdul Samad Rabiu, has posted another strong performance with profit for the first nine months of 2025 doubling to $283.5 million. The latest results underscore the company’s dominance in Nigeria’s fast-moving consumer goods sector and its growing importance to the country’s manufacturing economy.

BUA Foods profit jumps as sales rise

According to its financial statement for the nine months ended Sept. 30, 2025, BUA Foods’ profit rose sharply from N201.4 billion ($140.4 million) in the same period of 2024 to N405.2 billion ($283.5 million), driven by higher sales volumes and the company’s disciplined control of production and logistics costs in a year marked by inflation and supply chain pressures.

Revenue climbed to N1.42 trillion ($987 million), up from N1.07 trillion ($743.6 million) a year earlier, thus reflecting strong demand across all its product lines. Sales of fortified sugar, bakery flour, pasta and rice also increased, with each category contributing to the higher turnover. The results point to BUA Foods’ ability to sustain output and distribution even as input costs rise—a challenge that has weighed heavily on other producers in the sector.

BUA Foods reports higher assets, earnings

BUA Foods operates through a network of core businesses, including BUA Sugar Refinery, BUA Oil Mills, IRS Flour, IRS Pasta, and BUA Rice. The company’s ownership remains largely in the hands of the Rabiu family. Abdul Samad Rabiu holds a 92.63 percent stake, while Isyaku Naziru Rabiu, his son, owns 1.62 percent bringing the combined stake to 94.25 percent.

The strong earnings filtered through to the balance sheet. Total assets increased from N1.095 trillion ($761.2 million) at the end of December 2024 to N1.242 trillion ($863.2 million) as of Sept. 30, 2025, while retained earnings rose to N592 billion ($411.4 million) from N421 billion ($292 million) a year earlier, and shareholders’ equity expanded to N600 billion ($417 million), up from N429 billion ($298.2 million).