Nigerian billionaire Abdul Samad Rabiu collects $337 million BUA Foods dividend

Nigerian billionaire businessman and philanthropist Abdul Samad Rabiu received a record N467 billion ($337.3 million) dividend on July 15 after BUA Foods Plc paid shareholders its highest-ever final dividend, underscoring another year of strong earnings at one of Nigeria’s biggest food manufacturers and the company’s commitment to rewarding investors.

Rabiu, Nigeria’s second-richest man and Africa’s third-richest billionaire, owns 92.64 percent of the Lagos-based food group. Regulatory filings show that N467 billion ($337.3 million) of the company’s total N504 billion ($364 million) dividend for the financial year ended Dec. 31, 2025, was paid electronically into bank accounts linked to Rabiu and his affiliated entities, making him the largest beneficiary of the record distribution.

BUA Foods doubles dividend on profit 

The payout follows a standout year for BUA Foods. The board declared a final dividend of N28 ($0.02) per share, more than double the N13 ($0.009) per share distributed a year earlier, when shareholders received a combined N234 billion. The higher dividend came after annual profit climbed to N518.7 billion ($374.6 million) in 2025, nearly twice the N266 billion ($192.1 million) reported the previous year.

The company’s performance was driven by stronger demand across its core businesses, including sugar, pasta and rice, while tighter control of production and distribution costs helped support earnings despite Nigeria’s difficult business environment. Revenue increased to N1.77 trillion ($1.27 billion) from N1.52 trillion ($1.1 billion) a year earlier, extending BUA Foods’ growth across its consumer staples business.

The stronger earnings were also reflected in the company’s financial position. Total assets rose to N1.39 trillion ($1 billion) as of Dec. 31, 2025, from N1.095 trillion ($791 million) a year earlier, while retained earnings increased from N421 billion ($304 million) to N705.4 billion ($510 million), providing additional financial flexibility to support future expansion.

BUA Foods expands domestic capacity post-dividend

BUA Foods has grown into one of Nigeria’s largest integrated food producers, with operations spanning sugar refining, flour milling, pasta manufacturing, rice processing and edible oils. Through subsidiaries including BUA Sugar Refinery, BUA Oil Mills, IRS Flour, IRS Pasta and BUA Rice, the company controls much of its production chain, helping manage costs while supplying staple food products to consumers across the country.

The recent record dividend comes as BUA Foods prepares for another round of expansion. Following shareholder approval of the N504 billion ($366 million) payout, the Lagos-based food manufacturer said it will step up investment across several parts of its business as it seeks to increase production capacity and meet rising demand for locally produced food.

The company said the next phase of investment will include expanding flour milling and pasta production, launching a noodles business, completing its edible oils operations, and developing an integrated feed mill. The planned projects are expected to increase domestic food production, strengthen supply reliability, and support Nigeria’s broader push to reduce dependence on imported food products while meeting growing consumer demand.