Inside Details As BUA Group Consolidates Food Businesses

BUA Group has consolidated its food businesses.

They are now jointly known as BUA Foods.

Under the umbrella of BUA Foods are BUA Sugar Refinery Limited, BUA Rice Limited, BUA Oil Mills Limited, IRS Flour, and IRS Pasta.

The consolidation became necessary as part of BUA Group’s efforts to, better, drive the food security needs of the country SocietyNow.NG learned.

“We have perhaps the largest food business in Nigeria and the West African sub-region. To realize our full potential as a business as we drive the food security needs of the country, we recently consolidated our food businesses under a single entity to be known as BUA Foods,” said the Chairman of BUA Group, Abdul Samad Rabiu stated at the unveiling of BUA Foods on Wednesday, December 8, 2021.

The unveiling of the new corporate identity for the major players in the agribusiness and food processing sector was at the BUA Group’s Head Office in Lagos.

“The restructuring will enable us to be nimbler and more responsive to the food needs of the population as we continue to build a sustainable business,” Chairman Abdul Samad Rabiu provided more insight.

In the bid to achieve its primary objectives, BUA Group aims to take advantage of the growth opportunities in the economy and the export prospect presented by the African Continental Free Trade Area (AfCFTA).

The checks by SocietyNow.Ng revealed that BUA Group has massively invested in the food sector over the years which placed it in a good place to unlock the opportunities presented by AFCFTA.

The Group has eight ultra-modern factories across the country where sugar, flour, pasta products, edible oils, and rice are refined and processed. It also has a refining capacity of 1.5 million metric tonnes of sugar yearly from its two automated sugar refineries in Lagos and Port Harcourt.

“The destination refinery in Port Harcourt is mostly export-based and can produce the highest grade of sugar there, that could serve the West African sub-region and the Nigerian markets” SocietyNow.Ng learned.

BUA Group, through its food businesses – now known as BUA Foods- has also invested heavily in the backward integration program of the Federal Government under the supervision of the National Sugar Development Council (NSDC). Its 20,000 hectares of Sugar cane plantation in Lafiagi, Kwara state is generating over 10,000 direct employment with the capacity to add 200,000metric tonnes of sugar into the economy as well as produce 20,000,000 litres of ethanol information available to SocietyNow.Ng revealed.

“We have continued to evolve to become a loved brand across our offerings in sugar, flour, pasta, and rice. We are committed to doing the same in our future expansions,” stated Engineer Ayodele Abioye, the Chief Executive Officer of BUA Foods who explained that the restructuring also reinforces the brand’s promises which revolve around customers’ and consumers satisfaction.

SocietyNow.Ng further gathered that there are plans to allow Nigerians to benefit from the brand’s growth opportunities by listing BUA Foods on the Nigerian Stock Exchange.