The Chairman of BUA Foods, Abdul Rabiu, highlighted the company’s challenge with forex dependency due to the bulk of its raw materials being FX-dependent. He emphasized Nigeria’s status as a non-industrial sugarcane producer, a key raw material for BUA Foods. Rabiu disclosed that the company’s sugar estate in Lafiagi spans 20,000 hectares, housing a refinery with a daily capacity of 15,000 tonnes of crushed canes, along with an industrial ethanol plant. BUA Foods has invested over $200 million in the project, which also includes supporting infrastructure such as schools, an estate, and a three-kilometer airport.
The company aims to reduce its forex dependency by accelerating efforts to become more self-sufficient in raw material supply, with plans to extend similar projects to other communities. Rabiu reiterated BUA Foods’ commitment to sustainability, including responsible production practices and engagement with host communities to minimize its environmental impact.
Looking ahead, Rabiu expressed confidence in the company’s future success, citing a focus on enhancing internal efficiencies, optimising costs, and driving top-line growth through capacity expansion and product innovation.
BUA Foods, a leading food business in Nigeria, produces sugar, flour, pasta, rice, and edible oils. With strategically located plants and strong brand reputation, the company is positioned for sustainable growth and aims to leverage export opportunities in West Africa and beyond. Headquartered in Nigeria and listed on the NGX Exchange, BUA Foods is among the top consumer goods firms by market value.
