By Chinwendu Obienyi
Newly listed BUA Foods Plc says it is well equipped to play its role in the developmental drive of the nation’s economy as well as committed to Africa’s demand by promoting food security.
Its Chairman, Abdul Samad Rabiu, disclosed this to newsmen during the company’s Facts Behind the Listing presentation and the Closing Gong ceremony in Lagos on Tuesday.
Rabiu, represented by the Group Chief Executive Officer, BUA Foods Plc, Alhaji Kabiru Rabiu, while commending the Securities and Exchange Commission (SEC), NGX and other parties included in the listing transaction, said Nigeria needs to be placed on an accelerated development path within a well specified realistic and attainable timeline , adding that its decision to list on the NGX reaffirms its long term commitment towards national economic growth plans especially agriculture and food value chain.
He stated that the company’s listing on the NGX undoubtedly creates a new consumer goods asset class for investors and provides an opportunity for a wider pool of Nigerians to be part of the foods sector growth story.
“As a fully integrated food conglomerate, BUA Foods is equipped to play a role in the developmental drive of our economy and we are a diversified company with strategically located plants for efficiency and production, market penetration as supporting the demand dynamics across the sub-sectors we operate in. Our strong expansion drive in key strategically and competitively to meet demand for our quality products and stay ahead in the market, underscores our focus to be part of a live and healthy consumption choices of every Nigerian”, Rabiu said.
According to him, “We are investing in capacity building supported by a backward integration strategy to harness opportunities in front of us today to position ourselves for growth ahead.”