BUA Food Plans Expansion After N504bn Dividend Approval

BUA Food Plc, led by Chairman Abdul Samad Rabiu, announced plans to expand its production capacity following the approval of a N504 billion dividend at its fifth annual general meeting in Abuja. The company aims to enhance local food product availability and affordability, focusing on increasing its flour mill and pasta production capacity, launching a noodle business, and completing its edible oil operations.

BUA Food intends to become Nigeria's largest indigenous food manufacturer by next year, driven by the need to strengthen the country's food manufacturing sector rather than merely increasing company size. The approved resolution includes a final dividend of N28 per ordinary share.

Rabiu emphasized the company's responsibility to support Nigeria's industrial development and contribute to long-term growth. BUA Food's expansion is expected to significantly increase local production capacity, broaden consumer choices, and reduce dependence on imported food products, reinforcing Nigeria's food security.