Chairman of BUA Group, Abdul Samad Rabiu, has said the company’s ongoing investments across Nigeria’s food value chain are designed to strengthen food security and contribute to lower food prices through increased production.
Rabiu made the disclosure on Wednesday after a meeting with President Bola Ahmed Tinubu at the State House in Abuja.
He expressed confidence that the expansion projects, scheduled for completion next year, would transform BUA Foods into Nigeria’s largest food business while enhancing its capacity to support price stability.
Addressing journalists after the meeting, the billionaire businessman explained that his visit was primarily a courtesy call to appreciate President Tinubu for creating a supportive business environment and to reaffirm the company’s commitment to sustained investment in Nigeria.
He said BUA Group is expanding operations across key segments of the food industry, including flour milling, sugar refining and domestic sugar production under its backward integration programme.
According to him, the company is also constructing an oil milling facility in Port Harcourt, in addition to a feed mill and a noodles manufacturing plant as part of its broader expansion strategy.
“With these, once we complete all these expansion projects next year, BUA Foods is going to be the largest foods business in Nigeria and with that, hopefully, we’ll be able to bring down the price because at the end of the day, if you are the biggest and you have this huge capacity you’ll be able to help support prices to come down”, he said.
Rabiu noted that expanding production capacity remains one of the most effective ways to tackle rising food prices while complementing the Federal Government’s efforts to improve food security across the country.
Reflecting on his engagement with the President, he described the meeting as cordial and said it provided an opportunity to acknowledge Tinubu’s continued support for businesses operating in Nigeria.
“It’s actually simply was a courtesy call and an opportunity to pay my respects to His Excellency, Mr. President, and also express appreciation for his support of the business environment in Nigeria.
“We had a warm and cordial conversation, and I used the opportunity to reaffirm BUA’s commitment to investing in Nigeria, creating jobs, and supporting the economy across the various sectors of BUA”, he said.
The BUA chairman reiterated the conglomerate’s commitment to supporting Nigeria’s economic development through sustained investments and employment generation.
“I remain grateful for the leadership shown by His Excellency, and we will continue to play our part in advancing the economic growth of Nigeria”, he said.
Rabiu also expressed appreciation to President Tinubu for granting him an audience and for the warm reception he received during the visit.
