Nigerian billionaire Abdul Samad Rabiu is bringing BUA Rice back into the country’s branded rice market, marking a return to a segment that has quietly grown in importance within BUA Foods Plc’s earnings mix. The move follows a first quarter of 2026 performance in which the rice business delivered steady gains and strengthened its contribution to group revenue.

The rice division generated N14.9 billion ($11 million) in revenue in the quarter, up from N13.02 billion ($9.5 million) a year earlier. It accounted for 4 percent of group revenue, compared with 3 percent in the same period of 2025, reflecting higher output from milling operations across BUA’s production facilities.

The quarterly result builds on a stronger showing in 2025, when rice revenue rose sharply to N96.57 billion ($70.5 million), compared with N5.56 billion ($4.05 million) in 2024. The company attributed the increase to more stable production and wider distribution across Nigeria’s consumer market, where rice remains a core household staple.

BUA Foods reshapes rice production strategy

Against that backdrop, BUA Foods is reintroducing its branded BUA Rice to retail shelves after a period in which the company focused on other product lines, including sugar, flour, pasta and edible oils. The return places the brand back into direct competition in Nigeria’s tightly contested rice market, where pricing and supply remain key concerns for consumers.

The relaunch has drawn attention from shoppers, particularly on social media, where discussions around food prices and availability have remained active. Some consumers have linked the brand’s return to broader efforts by large millers to improve access to staple foods in a market that has faced sustained pressure on costs.

Operational changes within the group have supported the move. Khalifa Rabiu, son of the founder, was appointed chief officer of global procurement and strategic operations on Jan. 29, 2026. Company disclosures indicate he has played a central role in the reintroduction of BUA Rice, overseeing coordination across procurement, production and distribution.

BUA Rice relaunch eyes revenue boost

The timing of the relaunch comes as Nigeria continues to grapple with fluctuations in staple food prices. Rabiu said in May 2025, after a meeting with President Bola Tinubu at the Presidential Villa, that BUA had imported large volumes of rice, wheat, and maize under a temporary tariff waiver. He noted that increased supply had helped ease prices, with rice falling from about N110,000 ($80.3) per 50-kilogram bag to around N60,000 ($43.8) at the time.

With BUA Rice now back in circulation, the company is positioning the brand for a larger share of domestic demand. Even as BUA Foods’ revenue fell to N394.7 billion ($286.5 million) from N442.1 billion ($321 million) due to weaker sales in key segments, the first-quarter 2026 results suggest rice is becoming a more consistent contributor to earnings, as competition among local millers continues to shape pricing and availability in Nigeria’s food market.