Swedish company Alfa Laval has partnered with Nigerian billionaire Abdul Samad Rabiu’s BUA Group to build a cutting-edge palm oil refinery in Nigeria. This collaboration is a big step towards boosting the country’s palm oil supply.
The agreement was signed by Panjak Maheshwari, vice president of Alfa Laval, and Abdul Samad Rabiu, who is the founder and executive chairman of BUA Group. The new refinery will have the capacity to process 1,000 tons of palm oil per day, which is expected to enhance local production and reduce Nigeria’s reliance on imported palm oil.
This facility aims to promote sustainable manufacturing and agriculture while supporting Nigeria’s goal of becoming more self-sufficient in its industries. It’s part of a broader plan to stimulate growth in the palm oil sector, create local jobs, and add value to the economy.
Abdul Samad Rabiu, Nigeria’s third-richest man with a net worth of $4.9 billion, has been making significant moves in the industrial landscape. In December 2024, BUA Group launched a new plant in Port Harcourt capable of producing 2,400 tons of Plaster of Paris (P.O.P.) and plasterboard daily.
Additionally, the company invested in a new packaging facility through a partnership with Austria’s Starlinger & Co., which will produce about 600 million polypropylene bags annually.
With this new palm oil refinery, BUA Group continues to expand its influence in Nigeria’s manufacturing and food sectors. This also reinforces the position of BUA Foods Plc, the group’s food division, as a market leader. BUA Foods operates a range of businesses, including sugar refining, oil milling, flour, pasta, and rice production. Abdul Samad Rabiu and his son, Isyaku Naziru Rabiu, hold a combined 94.25% stake in the company, which has a valuation of $4.9 billion on the Nigerian Exchange (NGX).
This new project not only stands to benefit the company but also promises to have a lasting impact on Nigeria’s economy and its agricultural landscape.
