BUA Group's Abdul Samad Rabiu Advocates for Local Industry Growth

At the 32nd Nigerian Economic Summit in Abuja, Abdul Samad Rabiu, the Founder and Executive Chairman of BUA Group, called for significant investment in local industries to boost Nigeria's productive capacity, create jobs, and enhance living standards. He urged both the government and private sector to collaborate in building a robust industrial base, moving beyond mere economic reforms to actual production increases.

Rabiu praised President Bola Tinubu’s economic reforms, particularly improved access to foreign exchange, which he stated has created a more predictable business environment. He highlighted BUA Group's expansion plans in various sectors, including flour milling and rice milling, with projects expected to complete in 2027, doubling production capacity.

Rabiu noted the necessity of creating at least 100 major indigenous industrial companies across various sectors. He identified access to affordable financing as a key challenge and called for mobilization of funds from various financial institutions to support productive investments.