From an initial listing price of ₦40 per share, BUA Foods Plc has soared to ₦415, pushing its market capitalization beyond ₦10 trillion ($7.05bn) in 2025 and overtaking Dangote Cement and MTN Nigeria as the country’s most valuable company.
The food-processing giant doubled its market cap between 2023 and 2024, reporting a staggering 109% jump in revenue to ₦1.53 trillion and profits of ₦265.9 billion. Its 2025 half-year numbers showed continued momentum, with ₦912.5 billion revenue, up 36%.
Chairman Abdul Samad Rabiu credits the growth to strategic investments in sugar, flour, rice, and pasta, alongside bold expansion moves such as building four new wheat milling factories that will lift annual capacity from 1.5m to 2.5m metric tons.
BUA’s dominance signals a shift in Nigeria’s capital market landscape, where consumer-focused companies are outpacing traditional industrial and telecom giants.
