BUA Food Expansion to Double Capacity Across Key Operations by 2027 — Rabiu

• BUA food expansion projects are expected to double capacity across key manufacturing operations by 2027, according to Abdul Samad Rabiu, who says the investments will support jobs, farmers and Nigeria’s food security.

BUA Group Founder and Executive Chairman, Abdul Samad Rabiu, says ongoing investments in the company’s food manufacturing businesses are expected to double production capacity across the affected operations by 2027.

VerseNews reports that Rabiu outlined the expansion plans during his keynote address at the 32nd Nigerian Economic Summit in Abuja.

The projects cover flour milling, pasta, noodles, edible oils, rice milling and animal feed production. According to Rabiu, the investments are intended to strengthen domestic production while expanding the group’s ability to serve markets across Africa.

Expansion targets food production and local suppliers

Rabiu said the projects would create employment opportunities and support farmers and suppliers connected to the group’s operations.

The expected capacity increase remains dependent on completing the projects. The announcement did not provide current and proposed production volumes for each business or separate completion dates for individual facilities.

It also did not specify how many jobs the expansion would create or announce changes to retail food prices. Details of the expansion announcement

Rabiu credits improved access to foreign exchange

The BUA chairman linked the group’s investment plans to improvements in access to foreign exchange under President Bola Tinubu’s economic reforms.

He said manufacturers previously struggled to obtain dollars for machinery and raw materials, even when they had sufficient naira to finance their purchases.

According to Rabiu, access to foreign currency through the market has made planning more predictable for businesses undertaking major industrial projects.

His assessment concerned the availability of foreign exchange rather than a claim that imported machinery or raw materials had become cheaper.

While acknowledging the difficulties still facing households and businesses, he said economic reforms must produce measurable gains in manufacturing, employment and living standards.

Affordable long-term financing remains a challenge

Rabiu identified access to affordable, long-term funding as a major obstacle to industrial expansion.

He said large manufacturing investments could take between 10 and 20 years to realise their full potential, making financing arrangements that support lengthy development periods essential.

The industrialist called for greater participation by banks, pension funds, insurance companies, development finance institutions and capital markets in funding productive businesses.

He also urged sustained policy stability, infrastructure development and investment in workers’ skills to help manufacturers expand their operations.

Nigeria needs more large indigenous manufacturers

Beyond BUA’s expansion, Rabiu challenged Nigeria to create conditions that would support at least 100 additional major indigenous industrial enterprises.

He said investment opportunities extended across manufacturing, agriculture, mining, technology and other productive sectors.

His appeal focused on building a broader industrial base capable of creating jobs and processing more of Nigeria’s resources locally. He also encouraged businesses to explore regional markets through the African Continental Free Trade Area.

Local processing central to BUA’s strategy

Rabiu cited the group’s integrated sugar project in Lafiagi, Kwara State, as another example of investment in domestic processing.

The project combines sugarcane cultivation, refining, ethanol production and electricity generation.

He argued that Nigeria should expand its ability to manufacture finished products rather than remain heavily dependent on selling raw materials and buying goods produced elsewhere.

The planned food manufacturing projects form part of that strategy, with completion targeted for 2027.