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BUA shares boost NGX by over N1trillion

The management of BUA Foods Plc. was on Tuesday, January 18, 2022 hosted to a closing gong ceremony on the main floor of the Nigerian…

The management of BUA Foods Plc. was on Tuesday, January 18, 2022 hosted to a closing gong ceremony on the main floor of the Nigerian Exchange (NGX) Limited. This was after addressing market stakeholders with a fact behind the listing presentation in a webinar held earlier in the day.

BUA Foods was listed on the Nigerian Exchange on Jan 5, 2022 and has since received significant acceptance going by the volume of demand for the shares which has boosted the market capitalization of the Nigerian Exchange Limited by over N1trillion.

The company has maintained an unbroken record of year-on-year growth and has eight ultra-modern manufacturing facilities across the country.

Kabiru Rabiu, Group Executive Director speaking on behalf of the Chairman of BUA Foods Plc. Stated that the company is determined to explore the huge opportunities available in the agribusiness to promote food security and growth for Nigerians and Africans.

According to Rabiu, “Today for us is very historic and we are excited to begin the year with the listing. The population of Nigeria is over 200million and our food production capacity is still not enough to meet current demands. However, with the listing of our food business on the NGX, there is high hope for Nigeria in terms of building capacity for food sufficiency.

“We are positioning our brand to take advantage of export opportunities through our strategically located plants from which foreign exchange can be generated both for the company and economy.”

On his part, the Chief Executive Officer, NGX, Mr. Temi Popoola, stated, “This listing marks a new beginning for BUA Foods Plc who plays a critical role in the FMCG industry as the company can leverage services the Exchange offers to achieve its strategic objectives. BUA Foods has experienced an upward trend in share price, market capitalization, and trading activity since its listing on the Exchange.”

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