Chairman of BUA Group and BUA Foods Plc, Alhaji Abdul Samad Rabiu, says BUA is on course to commission its proposed 200,000-barrel-per-day oil refinery in the first quarter of 2027.
Rabiu made the announcement on Wednesday after a meeting with President Bola Ahmed Tinubu at the Presidential Villa in Abuja, where he reaffirmed the conglomerate’s commitment to supporting Nigeria’s long-term economic growth through strategic investments.
He said BUA is currently undertaking major expansion projects across its food business, including flour milling, sugar refining, domestic sugar production under its backward integration programme, as well as the establishment of new oil milling, animal feed milling and noodles manufacturing facilities.
According to Rabiu, the projects are expected to be completed next year and will significantly boost the company’s production capacity, positioning BUA Foods as the largest food manufacturing business in Nigeria.
He expressed optimism that the increased capacity would help stabilise and reduce the prices of essential food commodities by improving supply and achieving greater economies of scale.
“Once we complete all these expansion projects next year, BUA Foods is going to be the largest foods business in Nigeria and, with that, hopefully, we’ll be able to bring down the price because, at the end of the day, if you are the biggest and you have this huge capacity, you’ll be able to help support prices to come down,” Rabiu said.
The planned 200,000-barrel-per-day refinery is expected to strengthen Nigeria’s domestic refining capacity and contribute to the Federal Government’s drive towards energy security and industrial development.
BUA Group has, in recent years, expanded its footprint across the cement, food processing, manufacturing and infrastructure sectors, with continued investments aimed at boosting local production, creating jobs and supporting the country’s economic transformation.
