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.

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The Industrial Training Fund has partnered with the Cement Technology Institute of Nigeria to train and upskill 100,000 artisans across Nigeria’s construction sector.

The nationwide programme, which will be implemented in phases, is designed to equip artisans with practical skills in masonry, carpentry and joinery, tiling, electrical installation, Plaster of Paris (PoP), and plumbing.

According to a statement by the ITF’s Head of Press and Public Relations, Thomas Ngor, the initiative will be officially launched on April 21, 2026, at Eko Hotels and Suites.

The event is expected to attract key stakeholders from government and the private sector, including the Minister of Industry, Trade and Investment, Jumoke Oduwole, and the Minister of State for Industry, John Owan Enoh.

Top industry players billed to attend include Aliko Dangote, who also serves as President of CTIN, Abdulsamad Rabiu, and the Group Managing Director of Lafarge Africa, Lolu Alade-Akinyemi.

Speaking ahead of the launch, the Director-General of ITF, Afiz Ogun, described the partnership as a strategic intervention to bridge the skills gap in Nigeria’s construction industry.

He noted that the initiative comes at a critical time when cases of building collapse continue to raise concerns nationwide, often linked to poor workmanship, inadequate training, and substandard construction practices.

According to him, the collaboration between ITF and CTIN will help address these challenges by equipping artisans with industry-relevant technical skills and promoting adherence to standard construction practices.

The programme will also strengthen the ITF’s Skill-Up Artisans (SUPA) initiative by introducing enhanced training modules, exposure to modern construction techniques, and access to best practices in cement application and structural integrity.

Ogun added that the initiative would improve employability and earning potential for artisans, while also increasing their credibility within the construction value chain.

He further explained that participants would benefit from certification and continuous professional development, ensuring they remain competitive in an evolving industry.

Industry stakeholders believe the programme could significantly improve construction standards, reduce building failures, and boost confidence in Nigeria’s real estate sector.

The ITF maintained that the partnership aligns with its broader mandate to drive skills development, enhance productivity, and support national economic growth.

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Council of Registered Builders of Nigeria CORBON has expressed delight over acceptance by the management of BUA Group to reduce cement price by over 35%, following calls made by the council recently.

This was disclosed in a statement released by the council’s chairman Bldr. Samson Ameh Opaluwah.

According to Opaluwah, it is a welcome development, while commending the patriotism of the Management of BUA Group led by Alhaji Abdulsamad Rabiu.

“Housing is an essential need of humanity and all efforts must be made to ensure that it is conveniently accessible to every Nigerian.

We hereby call on other manufacturers of cement, which is a major cost item in building works, as well as other manufacturers of building products to follow suit in a bid to reduce cost of buildings in Nigeria.”

The Council also challenges construction companies and professionals in the built environment to adopt findings of extensive research already conducted towards commercialization and use of cement replacement items (pozzolana) to further bring about reduction in building cost and improve accessibility to the teeming populace.

“CORBON shall continuously strive to promote innovative ways of reducing cost of buildings in Nigeria, he added.

Source: AfricaHousingNews

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