Shareholders have commended the corporate governance style of Abdul Samad Rabiu, Chairman of BUA Group, describing his leadership approach as a model for balancing profitability with employee welfare and stakeholder value.
The commendation follows the announcement that the group’s listed entities, BUA Foods Plc and BUA Cement Plc, will distribute a combined ₦842.64 billion as cash dividends to shareholders.
BUA Foods declared a total dividend of ₦504 billion, translating to ₦28 per share—an increase of 115.4 percent compared to the ₦13 paid for the 2024 financial year. Meanwhile, BUA Cement announced a payout of ₦338.64 billion, representing ₦10 per share, a 387.8 percent jump from the ₦2.05 distributed in the previous year.
Speaking through the President of the Association for the Advancement of Rights of Nigerian Shareholders, Dr Faruk Umar, investors said Rabiu has consistently demonstrated how private sector success can be translated into broader economic and social benefits.
They cited the group’s employee-focused initiatives, including a ₦30 billion reward programme for over 500 long-serving staff, as unprecedented in Nigeria’s corporate landscape. Under the scheme, several employees received substantial cash rewards, with some earning up to ₦1 billion.
Shareholders also pointed to the group’s decision to increase staff salaries by 50 percent in 2024, alongside its commitment to opening up ownership through public listings, as evidence of inclusive corporate practices.
Beyond employee welfare, Rabiu was praised for maintaining strong returns for investors while advocating price moderation in essential commodities such as cement and sugar through increased production and strategic pricing.
BUA Foods and BUA Cement rank among the largest companies listed on the Nigerian Exchange Limited, with a combined market value estimated at about ₦26 trillion.
Industry observers note that the group’s expanding investments in manufacturing and its ongoing refinery project are expected to further strengthen Nigeria’s industrial capacity and energy security.
Shareholders said Rabiu’s leadership reflects a broader vision of corporate responsibility, urging other business leaders to adopt similar approaches that prioritise sustainability, transparency, and national development.
