BUA Group, one of Africa’s largest foods, mining, manufacturing, and industrial conglomerates owned by billionaire industrialist, Abdul Samad Rabiu, is partnerIing with the Food & Water Division of Swedish, firm Alfa Laval to build a modern palm oil refinery in Nigeria.
The agreement, signed by Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group, and Panjak Maheshwari, Vice President at Alfa Laval, at the BUA Group Middle East Office, Dubai, United Arab Emirates, marks a key step toward boosting Nigeria’s palm oil production..
The new palm oil refinery adds another layer to BUA Group’s growing footprint in Nigeria’s food and manufacturing industries.
It also reinforces the role of BUA Foods Plc, the group’s food business unit as a leader in the market.
This new refinery and fractionation plant, which will have a capacity of 1,000 tons per day, is expected to enhance local processing and help reduce the country’s reliance on imported palm oil.
The facility will not only strengthen Nigeria’s push for industrial self-sufficiency but also support sustainable practices in agriculture and manufacturing. It’s part of a broader effort to add value locally, create jobs, and support economic growth in the palm oil sector.
This project is the latest in a string of bold moves by Rabiu, Nigeria’s third-richest man with a net worth of $4.9 billion.
BUA Foods runs several major operations, including sugar refining, oil milling, flour, pasta, and rice production.