In a bold leap towards revolutionizing Nigeria’s food production landscape, BUA Foods Plc is set to become the nation’s largest flour and pasta producer by 2025.
This audacious vision, announced by Chairman Abdul Samad Rabiu, CFR, CON, at the company’s 3rd Annual General Meeting on September 26, 2024, reflects BUA’s unwavering commitment to transforming the country’s food sector through strategic expansion and innovation.
“We are not just growing; we are setting the pace,” Rabiu declared, outlining the company’s aggressive expansion strategy. BUA Foods recently sealed a significant contract with FAVA, Italy’s leading pasta equipment manufacturer, to boost pasta milling capacity by an additional 400,000 tons per year, bringing total production to a staggering 1 million tons annually. This partnership marks a critical step in BUA’s mission to provide more affordable food products to Nigerians while asserting its dominance in the fast-moving consumer goods (FMCG) sector.
Acknowledging the economic realities of high food prices, Rabiu emphasized the company’s commitment to expanding production facilities to ensure greater food security. “We are relentlessly focused on bringing food prices down, and increasing our capacity is a vital part of that mission,” he said.
BUA Foods, already recognized as the only indigenous company with large-scale wheat and pasta milling operations in Nigeria, continues to lead in both innovation and capacity. Rabiu expressed gratitude to President Bola Ahmed Tinubu for extending a wheat import duty waiver, which has provided a temporary relief to manufacturers. “This waiver, lasting until December 2024, has been crucial in helping us manage costs. As it comes to an end, we are laser-focused on ensuring we meet the growing demand through increased local production,” Rabiu noted.
With new facilities set to come online by 2025, BUA Foods is positioning itself to not only lead but redefine Nigeria’s food production capabilities. This development, shared on the official LinkedIn page of BUA Foods, signals a transformative chapter in the company’s journey, one that promises to reshape the food industry and bolster Nigeria’s economic growth for years to come.
