Abdul Samad Rabiu signs deal to boost Nigeria’s food security

Key Points

• BUA Group partners with Agrimac Makina to install wheat handling equipment, boosting Nigeria’s food production capacity to 2 million metric tonnes annually.
• The project will link BUA Ports to Flour & Pasta Mills in Port Harcourt, enhancing supply chains and strengthening Nigeria’s agribusiness hub.
• BUA Foods records a 109% revenue increase in 2024, with strong demand and pricing strategies fueling its growth to $1.02 billion.

BUA Group, one of Africa’s fastest-growing industrial giants led by Nigerian billionaire Abdul Samad Rabiu, is taking another bold step to boost Nigeria’s food production. The conglomerate has teamed up with Turkish firm Agrimac Makina Limited to build and install wheat conveying and handling equipment with a capacity of 2 million metric tonnes per year.

The new system will link BUA Ports directly to BUA Flour & Pasta Mills in Port Harcourt, Rivers State, a project aimed at streamlining supply chains and helping Nigeria move closer to achieving food self-sufficiency. It will also reinforce Port Harcourt’s growing role as a key center for agribusiness and manufacturing in the region.

Rabiu expands industrial investments in Africa

At a recent signing ceremony in Dubai, Abdul Samad Rabiu and Okcul Barlik, CEO of Agrimac Makina, came together to seal the partnership. The agreement highlights BUA’s drive to build world-class infrastructure and invest in projects that can help shape Africa’s industrial future. 

This move builds on another major project Rabiu recently led. BUA Group has also partnered with the Food & Water Division of Swedish company Alfa Laval to set up a state-of-the-art palm oil refinery in Nigeria. Designed to process 1,000 tons of palm oil per day, the facility is expected to boost local production and cut down on the country’s dependence on imports.

But Rabiu’s ambitions go beyond building factories. With the palm oil refinery, he is also pushing for more sustainable practices in agriculture and manufacturing. His broader goal is clear: to add value within Nigeria, create more jobs for Nigerians, and drive growth in sectors that are vital to the country’s future.

Inside BUA Foods’ record-breaking year

BUA Foods, a major part of BUA Group’s operations, spans sugar refining, oil milling, flour, pasta, and rice production. Abdul Samad Rabiu and his son, Isyaku Naziru Rabiu, together own a commanding 94.25 percent of the company. Abdul Samad holds 92.63 percent, while Isyaku controls 1.62 percent, a stake worth over 291 million shares.

The company’s latest financial results show the strength behind its expansion efforts. In 2024, BUA Foods more than doubled its profit, jumping from N112.1 billion ($72.9 million) in 2023 to N266 billion ($173 million), fueled by strong demand and smart pricing strategies.