Nigerian billionaire Abdul Samad Rabiu to get N467 billion from BUA Foods’ record dividend

BUA Foods Plc is set to reward shareholders with its largest dividend yet, placing founder and majority shareholder Abdul Samad Rabiu in line for a substantial payout amounting to N467 billion after the Nigerian food giant more than doubled its dividend following stronger earnings.

Rabiu set for N467 billion dividend

Rabiu, Nigeria’s second-richest man and Africa’s third-richest person, holds a 92.64 percent controlling stake in BUA Foods, positioning him to receive about N467 billion ($337.3 million) from the record dividend declared by the company. The payout reflects both the company’s strong earnings performance and its policy of returning value to shareholders.

The dividend, scheduled to be paid electronically on July 15, represents the bulk of the total N504 billion ($364 million) recommended by the board for the financial year ended Dec. 31, 2025. BUA Foods proposed a dividend of N28 ($0.02) per share, more than double the N13 ($0.009) per share paid last year, when total dividends amounted to N234 billion.

Profit doubles, revenue, assets rise

The increased payout follows a sharp rise in earnings. BUA Foods reported profit of N518.7 billion ($374.6 million) for the 2025 financial year, nearly doubling from N266 billion ($192.1 million) recorded a year earlier. The growth was supported by higher sales across key product lines, including sugar, pasta and rice, alongside tighter control of production and distribution costs despite Nigeria’s challenging operating environment.

Revenue climbed during the period, rising to N1.77 trillion ($1.27 billion) from N1.52 trillion ($1.1 billion). Its balance sheet strengthened alongside earnings growth. Total assets rose from N1.095 trillion ($791 million) as of Dec. 31, 2024, to N1.39 trillion ($1 billion) as of Dec. 31, 2025. Retained earnings also increased significantly, climbing from N421 billion ($304 million) to N705.4 billion ($510 million), reflecting improved profitability and reinvestment of earnings.

Integrated operations support growth

BUA Foods operates as a vertically integrated food manufacturing company, with businesses spanning sugar refining, flour milling, pasta production, rice processing, and edible oils. Its operations include BUA Sugar Refinery, BUA Oil Mills, IRS Flour, IRS Pasta, and BUA Rice, giving the group greater control over its supply chain and helping manage cost pressures.

Regulatory filings show that Rabiu holds 16,674,742,247 shares in BUA Foods through direct and indirect ownership. Of this total, 16,172,601,967 shares, representing 89.85 percent, are held indirectly through affiliated entities, while 502,140,280 shares, equivalent to 2.79 percent, are owned directly. The combined 92.64 percent stake gives Rabiu significant influence over corporate decisions, including dividend policy and expansion strategy.