Financial Times recognition highlights scale, resilience, global relevance of Nigerian Manufacturing – BUA Foods

By Emeka Anaeto, Business Editor

BUA Foods Plc has been recognised in the 2026 edition of the Financial Times’ Africa’s Fastest Growing Companies ranking, reinforcing the Company’s emergence as one of Africa’s leading industrial growth stories and underscoring the increasing global relevance of large-scale manufacturing businesses driving economic transformation across the continent.

Published annually since 2021 by the Financial Times in collaboration with Statista, the ranking recognises companies across Africa that recorded the highest compound annual growth rates (CAGR) in revenue between 2021 and 2024, spotlighting businesses contributing significantly to economic expansion, industrial development, market growth, and long-term value creation.

BUA Foods’ inclusion in the ranking reflects the Company’s strong growth trajectory and operational resilience within one of Africa’s most challenging business environments. Between 2021 and 2024, the Company recorded a CAGR of 66.13% in revenue, driven by sustained expansion across its core food categories, rising consumer demand, and continued market penetration across Nigeria and the broader African market.

Over the same period, BUA Foods also recorded a CAGR of 118% in market valuation, with its valuation increasing from approximately N720 billion in 2021 to about N7.47 trillion by the end of 2024. This growth reflects strong investor confidence in the Company’s long-term strategy, operational scale, and ability to deliver sustained value despite macroeconomic volatility across Nigeria and broader African markets.

The Company’s valuation has continued to strengthen beyond the review period, with BUA Foods currently valued at approximately N17.41 trillion, reinforcing its position as one of Africa’s most valuable and profitable consumer goods and manufacturing companies. The sustained increase in market value further reflects investor confidence in the Company’s earnings capacity, long-term growth trajectory, and strategic importance within Nigeria’s industrial and food production landscape.

The Company’s strong performance and sustained growth trajectory have also continued to receive continental recognition. Recently, the Chairman of BUA Foods, Alhaji Abdul Samad Rabiu, was awarded CEO of the Year at the 2026 Africa CEO Forum held on May 14, 2026, in Kigali. The recognition was bolstered by the stellar performance of BUA Foods and the Chairman’s exceptional business achievements across industrial sectors in Nigeria and beyond, further underscoring the growing influence of Nigerian industrial and manufacturing businesses on the African economic landscape.

The Financial Times recognition comes amid a period of significant global economic headwinds. Despite these challenges, BUA Foods continued to strengthen its market position through sustained investments in production capacity, operational efficiency, supply chain optimisation, and expanded distribution across its sugar, flour, pasta, and rice businesses.

As one of Africa’s leading food businesses, BUA Foods continues to play a strategic role in advancing food security, industrialisation, and economic growth through large-scale local manufacturing and long-term investments across its operations.

The Financial Times ranking further reinforces the Company’s position as one of the continent’s most significant industrial growth stories and highlights the growing contribution of African manufacturing businesses to global economic discourse.

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