BUA Foods Plc on Monday surpassed the ₦11 trillion market capitalisation mark after its share price jumped by 6.73% to ₦629.7 ($0.42), solidifying its position as the most valuable company on the Nigerian Exchange Limited (NGX).
The stock closed with a market value of ₦11.3 trillion ($7.52 billion).
This development comes a few weeks after BUA Foods overtook MTN Nigeria on August 7, 2025, to become the exchange’s largest company by market value.
MTN now trails at ₦9.13 trillion ($6.08 billion), followed by Airtel Africa at ₦8.68 trillion ($5.78 billion) and Dangote Cement at ₦8.63 trillion ($5.74 billion). Sister company BUA Cement stands at ₦5.14 trillion ($3.42 billion).
Founded in 1988, BUA Foods manufactures and distributes sugar, flour, pasta, rice, and edible oils across Nigeria. Its stock now accounts for about 12.6% of the NGX’s total equity market value, according to African Stock Exchanges.
“The company began the year at ₦415 ($0.28) per share and has gained 51.7% year-to-date, ranking 83rd on the NGX in terms of performance,” the real-time tracker said. Over the past four weeks, the stock has added 7%, the 26th-best return on the exchange.
Trading activity has also been robust. Between 17 June and 15 September, BUA Foods was the 105th most-traded stock on the NGX, with 16.7 million shares changing hands in 18,152 deals worth ₦7.94 billion ($5.29 million) — an average of 265,775 shares per session.
Investor enthusiasm is underpinned by strong fundamentals. In the first half of 2025, BUA Foods doubled earnings year-on-year to ₦276.1 billion ($179.9 million) while revenue grew 36% to ₦912.5 billion ($594.9 million), supported by broad-based growth across its product lines.
Rice revenue surged 2,923% as the company’s push into Nigeria’s local rice value chain gathered pace. Gross profit rose 55%, with margins improving to 37.2% from 32.4% a year earlier.
“Amidst evolving macroeconomic dynamics, we remain focused on scale, affordability, and consistent value delivery,” said Ayodele Abioye, managing director of BUA Foods, in its latest earnings report. “Our investments in backward integration and manufacturing expansion continue to position us for long-term sustainable growth.”
Note: All figures converted at an exchange rate of $1 = ₦1,501.9 as of September 12, 2025.
