By Ali Elias
BUA Foods Plc has signed an agreement with Turkish milling equipment manufacturer IMAS to construct four new wheat milling factories with a combined capacity of 3,200 tons per day.
In a statement signed by Director of Marketing and Communications Adewunmi Desalu and released on the Nigerian Exchange (NGX), the company revealed that these new mills will increase its milling capacity to 2.5 million metric tons annually, a nearly 400% increase from its 2022 capacity of 500,000 metric tons.
The new factories are expected to enhance BUA’s manufacturing capabilities, allowing for the production of more high-quality flour products to address food challenges in Nigeria. Chairman Abdulsamad Rabiu, who signed the agreement, emphasized that the expansion is part of the company’s strategy to increase its market share in the Nigerian flour industry.
“This partnership with IMAS demonstrates our commitment to improving food security in Nigeria,” Rabiu said. “These new factories will significantly boost our capacity to produce high-quality flour products while creating additional job opportunities nationwide.” Rabiu added, “This investment moves us closer to our goal of expanding our presence in the Nigerian flour market, providing us with the flexibility to meet various flour demands.”
With this strategic expansion, BUA Foods not only aims to secure a stronger foothold in the flour market but also to play a pivotal role in enhancing food security and economic growth across Nigeria