Nigerian billionaire Abdul Samad Rabiu to expand empire with new rice processing line

Nigerian billionaire businessman and industrialist Abdul Samad Rabiu is continuing his rapid expansion in the food and manufacturing sector. Just days after unveiling plans for a 40-tonnes-per-hour animal feed mill, BUA Group, his industrial conglomerate, announced plans to build a 32-tonnes-per-hour rice processing line.

Rabiu finalizes strategic partnership with Bühler in Dubai

The agreement was finalized Tuesday, Dec. 2, at BUA Group’s Middle East office in Dubai. Rabiu, founder and executive chairman of BUA Group, signed the deal with Thomas Ogundiran, managing director of Bühler West Africa. This is part of a series of deals that also include BUA’s collaboration with Türkiye’s Viteral Integrated Milling Systems to construct a feed mill in Kano.

The move reflects BUA Foods’ continued growth particularly in its rice business. Sales from Head Rice rose from N1.5 billion ($1.03 billion) in first nine months of 2024 to N77.43 billion ($53.5 million) over the same period in 2025, thus contributing to the group’s revenue growth.

BUA Foods net profit soars as strong demand boosts revenue

BUA Foods operates a wide network of businesses, including BUA Sugar Refinery, BUA Oil Mills, IRS Flour, IRS Pasta and BUA Rice. It remains largely under family control, with Rabiu holding a 92.63 percent stake and his son, Isyaku Naziru Rabiu, owning 1.62 percent.

Financial results for the nine months ended Sept. 30, 2025, show BUA Foods’ net profit doubled to N405.2 billion ($283.5 million) as revenue grew to N1.42 trillion ($987 million) driven by strong demand for sugar, flour, pasta and rice. The company’s total assets rose to N1.242 trillion ($863.2 million) while retained earnings surged to N592 billion ($411.4 million).

BUA Group expands industrial footprint in Nigeria

Earlier this year BUA Group partnered with the Food & Water Division of Swedish firm Alfa Laval to establish a modern palm oil refinery and fractionation plant in Nigeria. The facility boasting a daily capacity of 1,000 tons will boost local production, reduce reliance on imported palm oil and support sustainable agriculture and manufacturing practices.

The group is also speeding up its Backward Integration Project, which aims to make Nigeria less reliant on imported sugar and make domestic supply chains strong. By combining local production and expertise with global partnerships, BUA Group thanks to its latest deals, is positioning itself as a leader in Nigeria's industrial growth through these projects.