Abdul Samad Rabiu’s son, Khalifa Rabiu, is set to receive ₦13.2 billion in dividends from BUA Foods Plc following a record payout.
Khalifa holds 473.6 million shares, representing a 2.63% stake in the company.
His father, who controls 92.64% of the company, will receive approximately ₦467 billion.
The dividend, approved for the 2025 financial year, totals ₦504 billion.
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This represents more than double the previous year’s payout.
BUA Foods’ strong performance was driven by increased sales across key product lines.
These include sugar, pasta and rice.
The company also improved production efficiency and distribution capacity.
Profit rose significantly to ₦518.7 billion.
Total assets increased to ₦1.39 trillion.
Retained earnings stood at ₦705.4 billion.
Khalifa Rabiu was recently appointed Chief Officer of Global Procurement and Strategic Operations.
He is expected to focus on cost optimisation and strengthening supply chain resilience.
His experience spans food production, cement and animal feed sectors.
Analysts say the company’s performance reflects strong positioning within Nigeria’s fast-moving consumer goods market.
