Business

BUA Foods Posts N1.77 Trillion Revenue, announces N28 Dividend

Published

3 months ago

March 31, 2026

Preport

Nigeria’s leading food manufacturing company, BUA Foods Plc has announced its audited financial results for the year ended 31 December, 2025, delivering strong revenue growth and reinforcing its commitment to creating value for shareholders.

The company recorded revenue of N1.77 trillion, representing a 16 per cent increase from N1.53 trillion in 2024.

This performance reflects sustained demand across its product portfolio including sugar, flour, pasta and rice, as well as continued execution of its scale and market expansion strategy.

In line with its commitment to rewarding shareholders, the Board has proposed a dividend of N28 per share, representing a 115 per cent increase compared to the N13 per share paid in 2024, and amounting to a total proposed payout of N504 billion subject to shareholders approval at the 2026 Annual General Meeting slated later this year.

This significant increase highlights the Company’s strong value creation and consistent focus on delivering superior shareholder returns.

Commenting on the results, the Chairman, Abdul Samad Rabiu, said; “Our 2025 performance reflects the strength of our growth strategy and our ability to consistently scale revenue in a dynamic operating environment. The significant increase in our proposed dividend to N28 per share underscores our commitment to delivering enhanced value to our shareholders while continuing to invest in the future of the business.”

The Managing Director, Ayodele Musibau Abioye, added; “Our focus remains on driving sustainable revenue growth through capacity expansion, market penetration, and improved end-to-end supply chain. The strong demand across our product categories reinforces our strategic direction, and we are well-positioned to build on this momentum.”

The company also maintained a solid financial position, with total assets increasing by 27 per cent to N1.39 trillion, reflecting continued investment across its operations and value chain to support long-term growth.

While profitability remained strong during the period, the Company’s performance was primarily driven by revenue expansion, supported by improved operational efficiencies, optimised cost structures, and effective supply chain management.

With strong fundamentals, improved profitability, and continued investment across its value chain, BUA Foods Plc remains well-positioned to sustain its growth trajectory while contributing to food security and economic development in Nigeria and other West African countries.

Related Topics:announces N28 Dividend BUA BUA Foods Posts N1.77 Trillion Revenue

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Business

Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

Published

6 hours ago

June 18, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

Business

FG debunks claims of plans to introduce telecoms, fuel taxes

Published

14 hours ago

June 18, 2026

Preport

The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.