The Chairman of BUA Group, Alhaji Abdul Samad Rabiu has announced the consolidation of the company’s food businesses under a single entity to be known as BUA Foods.
During the unveiling/media launch of the BUA Foods Plc at the company’s corporate head office in Lagos, Rabiu disclosed that the sugar, flour, pasta, rice and edible oil have all been integrated into the BUA foods.
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According to him, BUA Group, one of the largest indigenous conglomerates in Africa, is investing heavily in the nation’s food industry.
“We have built eight ultra-modern factories across the country where we refine and process sugar, flour, pasta products, edible oils, and rice.
“We have a refining capacity of 1.5 million metric tons (MT) of sugar yearly from our two automated sugar refineries in Lagos and Port Harcourt.
“Our flour milling and pasta processing factories have a milling capacity of 576,000MT and 250,000 tons total annual production.
“By the middle of next year, we will commission our new lines in Port Harcourt, and with that, we will have 850,000 tons of flour and another 250,000 tons of pasta.
“That will give us a total of 1.4m tons of flour milling and 500,000 tons of pasta from next year. BUA oil factories in Lagos and Kano produce high-quality oil from groundnut and palm oil.
He stressed, “We have invested in large scale estates within the country to help deepen local sugar production.”
Reacting, Mr Ismail Ajao, the production manager of Royal bite company in Lagos said the BUA flour milling factories will reduce the increasing price of flour.
Currently, he said flour is N22,000 rising from N11,500 some months ago. “If BUA increases its production capacity, it will help in no small way.
“There will be more flour which will force their competitors to also reduce the price of the product,” he said.