Shareholders have applauded the corporate governance style of Abdul Samad Rabiu, Chairman of BUA Group, describing his leadership approach as people-focused and worthy of emulation by other business leaders.
The commendation came as the group announced that its listed companies — BUA Foods Plc and BUA Cement Plc — will pay a combined ₦842.64 billion in cash dividends to shareholders.
BUA Foods is set to distribute ₦504 billion, translating to a final dividend of ₦28 per share, a 115.4 percent increase from ₦13 paid in 2024. Meanwhile, BUA Cement will pay ₦338.64 billion, equivalent to ₦10 per share — a sharp rise of 387.8 percent from the ₦2.05 declared the previous year.
Shareholders said Rabiu has consistently shown how private sector success can translate into broader public value. They pointed to his decision to open up the company for public ownership, alongside strong employee welfare initiatives and customer-focused pricing strategies.
They also highlighted his track record of delivering consistent returns to investors while maintaining a balance between profitability and public interest.
Both BUA Foods and BUA Cement rank among the largest companies on the Nigerian stock market, with a combined market value estimated at about ₦26 trillion. BUA Foods is currently the largest publicly listed food manufacturing company in Nigeria, while BUA Cement remains one of the country’s leading cement producers.
In a statement, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Faruk Umar, described Rabiu’s leadership as exemplary.
He cited the company’s ₦30 billion employee reward programme in December 2025 as unprecedented. Under the initiative, 510 long-serving staff received cash gifts, with five employees awarded ₦1 billion each, while others received up to ₦500 million depending on their roles and years of service. The company had also implemented a 50 percent salary increase in 2024.
“We think corporate leaders have an excellent example to emulate in Abdul Samad Rabiu,” Umar said. “When leaders see their success as a blessing to the wider community, the entire country benefits.”
He added that BUA Group’s investments in food production and cement manufacturing have contributed significantly to Nigeria’s economic growth, noting that its ongoing refinery project could further boost energy security.
Umar, who represents minority shareholders on the board of the Nigerian Exchange, also praised the group’s strong corporate governance practices, including transparency, timely disclosures, and sustainable growth strategies.
He noted that BUA’s ability to balance financial performance, staff welfare, and long-term investment has strengthened its reputation among investors.
Beyond profitability, shareholders credited the company with helping to stabilise prices of key commodities such as sugar and cement through increased supply and competitive pricing, easing inflationary pressures.
Financial results for the year ended December 31, 2025, show strong growth across both companies. BUA Foods recorded revenue of ₦1.77 trillion, up from ₦1.53 trillion in 2024, while profit before tax rose to ₦521.53 billion. Net profit stood at ₦518.39 billion.
BUA Cement posted revenue of ₦1.18 trillion, compared to ₦876.47 billion the previous year. Profit before tax surged to ₦465.28 billion, with net profit rising sharply to ₦356.04 billion.
Shareholders say they will continue to support corporate leaders who prioritise inclusive growth and use business success to drive broader economic development.
