BUA Foods Becomes Nigeria’s Most Valuable Company with N10.3 Trillion Market Cap
BUA Foods Plc has emerged as Nigeria's most valuable publicly traded company, achieving a historic N10.3 trillion market capitalization following an 8.7% surge in its share price to N574.9. The milestone comes just days after the food processing giant reported its strongest financial performance in six years. The Abdul Samad Rabiu-owned conglomerate overtook MTN Nigeria (N10.1 trillion) and extended its lead over Dangote Cement (N9.74 trillion) to claim the top spot on the Nigerian Exchange. The company's remarkable valuation now exceeds the combined market cap of Nigeria's four largest banks - GTCO, Zenith, UBA, and Access Holdings. Analysts attribute BUA Foods' exceptional performance to its recent financial results showing 36% revenue growth to N913 billion and a return to foreign exchange gains after prolonged losses. The company operates across five key food sectors: sugar, flour, pasta, rice, and edible oils. […]