3-Year-Old Company Beats MTN, Dangote, Banks To Become Most Valuable Firm in Nigeria
- Nigerian billionaire Abdul Samad Rabiu’s BUA Foods, listed on the NGX three years ago, has crossed the N11 trillion mark
- The new market capitalisation has made it the most valuable company among listed firms in Nigeria
- The company has enjoyed strong market growth, with an even brighter outlook as it plans expansion
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
BUA Foods Plc has emerged as the most valuable company on the Nigerian Exchange Limited (NGX) as its market capitalisation climbed to N11.3 trillion ($7.5 billion) as of September 19, 2025.
The company now has 12.6% share of total NGX market capitalisation
Market capitalisation shows how much a company is worth as determined by the total market value of all outstanding shares.
Source: UGC
In three years, BUA Foods becomes most valuable in Nigeria?
The new milestone comes just three years after its listing on January 5th, 2022.
Since debuting on the NGX at about N1.15 trillion, BUA Foods has seen nearly a 10-fold rise in market capitalisation.
The consumer goods giant’s valuation rose 7% in one week, barely a month after it crossed the N10 trillion mark.
A surge analysts attribute to investor confidence under Chief Executive Ayodele Abioye, BusinessDay reports
Abioye, who joined BUA Group in 2021 and became managing director of BUA Foods at the height of global supply chain disruptions, has overseen rapid expansion into sugar, flour, rice, pasta and edible oils, consolidating the company’s role in Nigeria’s food security.
Shares have rallied more than 14-fold, closing at N629.70 on Sept. 19, more than double the valuation of sister company BUA Cement.
Source: Getty Images
BUA financial results
Controlled by Nigerian billionaire AbdulSamad Rabiu, BUA Foods reported its highest half-year profit in six years in the first half of 2025, with revenue up 36% to N913 billion. ]
The company profit surged from a N54.7 billion foreign exchange loss in 2024 to a N407 million gain in H1 2025, supported by a more stable naira.
Finance costs rose 53% to N10.2 billion, reflecting high interest rates despite lower debt levels.
Reacting to the result, Abioye said the firm remains focused on managing inflationary pressures and shifting consumer behaviour.
Abioye added:
“We are encouraged by the sustained performance recorded in the second quarter of 2025, amidst an improving macroeconomic environment."
Analysts say strategic price cuts, capacity expansion in rice and flour, and increased exports to West Africa could make 2025 BUA Foods’ strongest year yet.
The company’s balance sheet deleveraging is also expected to improve liquidity and boost working capital.
Nigerian billionaire set to crash rice prices, other food items
Earlier, Legit.ng reported that Abdul Samad Rabiu, the chairman of the BUA Group, promised to reduce further the cost of rice and other food goods, which he said had already dropped in the previous 12 months.
He said that President Bola Tinubu's "foresight" contributed to the country's food price collapse and praised him for waiving import duties.
The Tinubu administration announced in July 2024 that customs charges on imported food goods would be suspended to combat food inflation.
Source: Legit.ng
