BUA Group's Abdul Samad Rabiu Advocates Local Manufacturing

Abdul Samad Rabiu, the Founder and Executive Chairman of BUA Group, called for Nigeria to decrease its dependence on imported finished goods by enhancing domestic manufacturing and processing of raw materials. He made this statement during a keynote address at the 32nd Nigerian Economic Summit in Abuja.

Rabiu argued that Nigeria cannot achieve sustainable economic prosperity while remaining a consumer of foreign products. He cited the cement industry as a successful example of how domestic investment and supportive policies can transform an import-dependent sector into an export-oriented one.

Rabiu noted that Nigeria has become self-sufficient in cement production, previously importing 80 percent of its consumption. He urged the government and private sector to replicate this success in agriculture and other manufacturing industries.

Rabiu also discussed BUA's expansion plans, with BUA Foods valued at over $10 billion and BUA Cement at about $7 billion. He announced ongoing investments in various sectors, expecting completion in 2027, and acknowledged the impact of economic reforms on households and businesses.