BUA Doing A Lot To Support FG’s Efforts At Reducing Prices Of Food – Chairman Abdul Samad Rabiu
The founder and chairman of BUA Group, Abdul Samad Rabiu, has disclosed that food manufacturing subsidiaries of the enterprise is doing a lot to ensure reduction in prices of food commodities.
Mr Rabiu, who founded the Nigerian conglomerate – with interest in foods, infrastructure, mining, and manufacturing sectors of the nation’s economy – in 1988, made the comments after a meeting with President Tinubu on Thursday, May 15, 2025 at the Presidential Villa, Abuja.
“You will recall that His Excellency (President Bola Tinubu) granted duty and tariff waivers last year on certain food items to be imported into the country. So, what we did was key into that policy. BUA was able to import quite a lot of wheat, maize, and rice, and the shipments started coming in. We started processing, and we crashed the prices of some of these commodities,” Chairman Abdul Samad Rabiu revealed.
And the game-changing move spearheaded by one the leading contributors to the nation’s economy, is already yielding results with prices of key food items becoming affordable, HighStreet.ng understands.
“Mr. President was quite impressed, he was happy, and he commended what we are doing. He urged us to actually go and do more to support the economy and to support our country,” the BUA Chief further disclosed on his interaction with the President Tinubu.
Interestingly, the intervention of the founder of Abdul Samad Rabiu Africa (ASR) Initiative, who gives out $100 million annually in response to health, education and social challenges across the continent of Africa, came at a time when millions are struggling with high food costs.
