BUA Restructures to Boost Food Production in Nigeria

BUA Restructures to Boost Food Production in Nigeria

Gilbert Ekugbe

The BUA Group has stated that it has restructured its business model to boost food production in line with the federal government’s plan to diversify the nation’s economy away from hydrocarbon resources.

Indeed, the company stated that the move is apt considering the country’s rising food import bill that has been put at N1.41 billion.

The Chairman of BUA Group, Mr. Abdul Samad Rabiu, during the launch of BUA Foods Plc in Lagos, said there are opportunities for growth and development in the nation’s agriculture and food processing value chains.

He said that to tap into the economic diversification agenda of the federal government, BUA Group recently restructured its business model to enable it take advantage of existing business opportunities while contributing to the food security  drive of the nation.

“BUA Group is one of the largest conglomerates in Africa and has continued to invest in the nation’s food industry. We are also working on a rice plantation that would change the face of rice production in Nigeria. From a business stand point, our resolve remains to produce high quality products for the widest customer base at reasonable prices and as a group we have already set the ball rolling as underscored in the business restructuring that birth the consolidation of our food operations aimed at strengthening our market position. This will no doubt help our group to maintain its leadership position in our food business and other aspects of our operations,” he said.

He added that “the way forward is to look for areas where we can grow whatever we need because with a population of about 200 million people, it is so important that we are able to feed ourselves. We have everything in Nigeria here that will make it work. We need to come together to be able to do more. We cannot meet the demand of the nation because of the size of the population.”

Rabiu, however, commended the federal government’s effort in developing the agricultural sector to make Nigeria self-sufficient in rice production, saying that the country is currently producing almost all the rice it needed.

He said the overall objectives and task before the country as it grapples with the pandemic and economic challenges would be to develop a plan to put the nation on accelerated growth within well specified and realistic attainable timelines.

He said the challenges the country presently faces provided enough ground to do things differently.

Earlier, the Chief Executive Officer, BUA Foods Plc, Mr. Ayodele Abioye, said the company has reached a milestone that it started over three decades ago, saying that BUA brands are fully entrenched in all sectors of the Nigerian economy and promoting national development.

“We are proudly Nigerian business with international footprints. We are building our solid brand process around our customers and consumers. BUA Foods as a brand comes with many promises that reflect its promises to its customers and consumers.

“As we move in this journey, our brand promise is nourishing lives for growth and good health, promoting food security for all at reasonable prices with consistent quality services and experiences,” he added.

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