Elegbede Abiodun
BUA Foods Plc has been named Outstanding Consumer Goods (Foods) Company of the Year at the 2026 Industry Award Night organised by The Industry Newspaper in Lagos.
The company was recognised for its strong contribution to Nigeria’s food industry, particularly in advancing food security, expanding access to quality products, and sustaining operational excellence across the country.
According to the award panel, the recognition reflects BUA Foods’ “impactful presence in Nigeria’s food industry, driving food security and delivering quality products to Nigerians.”
The award comes amid a strong run of corporate achievements for BUA Foods Plc. The company ended 2025 as the most capitalised firm on the Nigerian Exchange, underlining strong investor confidence. Its audited full-year results also showed solid revenue growth and a sharp rise in profitability, driven by efficiency improvements and robust consumer demand.
Beyond its financial performance, BUA Foods continues to play a major role in supporting Nigeria’s food security ambitions.
Through LASUCO Sugar Company, the company is advancing backward integration efforts aimed at boosting local sugar production and reducing dependence on imports.
Speaking earlier at the Industry Summit, Managing Director Ayodele Abioye said Nigeria’s long-term economic growth would depend on the country’s ability to produce more, rather than rely heavily on consumption.
Delivering a keynote on “Unlocking Value: BUA Foods’ Role in Transforming Nigeria’s Real Sector through Innovation and Sustainability,” Abioye said the non-oil sector contributes more than 96 per cent of Nigeria’s GDP, but growth remains uneven because of weak investment in agriculture and manufacturing.
“The future of Nigeria’s economy will be determined by how effectively we produce, not just how much we consume,” he said.
He noted that BUA Foods has increased production capacity by more than 40 per cent in recent years and is on course for an additional 55 per cent expansion, a move he said would improve food availability, reduce import dependence and strengthen national food security.
Abioye added that the company has integrated thousands of smallholder farmers into its value chain through structured partnerships, while creating more than 3,000 direct jobs and supporting over 10,000 participants across its nationwide supply chain.
He, however, identified infrastructure gaps, inconsistent policy implementation and limited access to long-term financing as major constraints to industrial growth.
“Addressing these constraints requires deliberate alignment between policy, capital and execution,” he said.
Abioye also welcomed recent reforms in agriculture, trade and industrial policy, but stressed that stronger coordination and effective implementation would be critical to achieving long-term results.
In his remarks, Goddie Ofose, convener of the summit and publisher of The Industry Newspaper, called for closer collaboration between government and industry players to accelerate Nigeria’s industrialisation drive.
The recognition of BUA Foods comes at a time when private sector investment in Nigeria’s real economy is becoming increasingly important, particularly in sectors linked to food production, manufacturing and value addition.
