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BUA Foods’ Shareholders Approve N5.50k Dividend, Commend 2023 Results

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BUA Foods’ Shareholders Approve N5.50k Dividend, Commend 2023 Results

 …BUA Foods Will Be Nigeria’s Biggest Flour, Pasta Milling Company In 2024 – Abdul Samad Rabiu

 

Shareholders of BUA Foods Plc (“BUA Foods” or “the Company”), at the 3rd Annual General Meeting (AGM) held at the Transcorp Hilton Hotel, Abuja, on Thursday, 26 September 2024, approved the proposed final dividend payment of ₦5.50k per share.

BUA Foods’ Shareholders Approve N5.50k Dividend, Commend 2023 Results

The indigenous food manufacturing giant announced impressive financial performance as it recorded a revenue of ₦729.4bn, a 74.4% increase compared to the previous year. Profitability remained strong, demonstrating its resilience amidst evolving market dynamics, especially rising input costs. Profit after tax showed an impressive year-on-year growth, up 23%, from N91bn reported in 2022 to ₦112bn in 2023.

Addressing shareholders during the meeting, the Chairman of the Board, Abdul Samad Rabiu, thanked the shareholders for their undaunted commitment to the company’s shared vision. He mentioned that BUA Foods’ strategic focus on capacity expansion, and market penetration coupled with sound governance, yielded significant success.

He said: “Last year we successfully expanded and commercialised additional capacity in flour, pasta, and rice divisions, resulting in impressive volume growth across these divisions and overall strong business performance. With recent strategic agreements and new facilities planned for completion next year, we will become the country’s biggest pasta and flour milling company.

“Our performance is a testament to the resilience of our business strategies, underpinned by a culture of strong corporate governance. We are also focused on the optimisation of our internal processes to maintain excellence in a fast-changing world. With the dedication of our Management and staff, we will continue to deliver exceptional value to all stakeholders.”

Speaking further on growth ambitions, Rabiu said, “In 2024, we remain focused on accelerating efforts towards the completion of our Backward Integration Project in line with the extended Federal Government’s Sugar Master Plan 2.0, aimed at attaining self-sufficiency in the sugar sector.

“Additionally, we seek to further address key challenges in Nigeria’s rice production industry by enhancing local production, empowering farmers, and promoting sustainable practices. This project will contribute to food security, economic development, and environmental sustainability.”

Also commenting, the Managing Director BUA Foods, Engr. Ayodele Abioye (PhD), said, “Despite the challenging macroeconomic environment, we made good progress across key strategic pillars of expanding capacity, markets, products, and package offerings as well as expanding business capabilities with a focus on operational excellence, innovation, and sustainable growth.

“We will continue to leverage technology, innovation, and operational efficiencies to drive value creation and maintain a solid growth trajectory. We are committed to reinforcing our leadership as a home-grown food business with purpose.”

Speaking on the dividend pay-out, a shareholder, Mrs. Bisi Bakare, expressed her delight at the exceptional performance of the company.

She remarked, “We shareholders are very pleased today to receive a final dividend of N5.50 kobo from BUA Foods.

“I appreciate the board for putting smiles on our faces in this hard time. Declaring a N5.50k dividend despite the economic climate is very commendable and this has encouraged us to want to invest more.”

Another shareholder of BUA Foods, Farouq Muktar, commended the management for the year-on-year growth of the indigenous food manufacturing company.

He said, “I am very happy because of your commitment and the positive results we keep recording. This performance is highly commendable.

“We appreciate your strategic thinking which is one thing Nigerians need at this time. I commend BUA Foods management for always making us happy and not letting Nigerians down.”

In 2023, BUA Foods won several awards from reputable organizations. Among the awards won are Food Company of the Year, Innovative Indigenous FMCG Company of the Year Award, and Fastest Growing Food Manufacturing Company of the Year.

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Al-Yusuff International Travel and tour limited Opens Ilorin office

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Al-Yusuff International Travel and tour limited Opens Ilorin office

 

 

Al-Yusuff International Travel and tour limited is a leading hajji and umrah service provider in Nigeria. The firm is duly registered in Nigeria and with many years of successful and outstanding operation.

 

 

The good news reaching us from the company is that is opening her Ilorin office soon.

According to the information made available to us by the Chief Executive officer of Al-Yusuff International Travel and tour limited, Alhaji Mojeed Yusuff Oladele, the Ilorin office is located at Rukamat Plaza, No 1, Oro Road, Junction, Taiwo Road, Ilorin, Kwara, State.

He noted further that the grand opening is holding on Wednesday 11th, September. Many important personalities are expected to grace the grand opening.

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Adron Homes – A Giant Stride in Nigeria’s Real Estate Development

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Adron Homes – A Giant Stride in Nigeria’s Real Estate Development

 

In the dynamic and rapidly evolving landscape of Nigeria’s real estate sector, one company has distinguished itself with visionary leadership, innovative projects, and a steadfast commitment to transforming housing development. Adron Homes and Properties, a key player in the industry, has redefined the standards of real estate in the country, making giant strides that resonate with both seasoned investors and first-time homebuyers alike.

 

 

Founded with a mission to make luxurious and affordable housing accessible to all Nigerians, Adron Homes has positioned itself as a leader in providing premium real estate solutions across the country. At the heart of its success is the company’s ability to understand and adapt to the evolving needs of the Nigerian market.

 

Adron’s strategy, under the leadership of its founder and CEO, Aare Adetola Emmanuel-King, has always been focused on making homeownership not just a dream but a tangible reality for many. This vision is driven by a firm belief that quality housing should be available to everyone, regardless of social or economic background.

The company’s approach to real estate development incorporates a broad spectrum of projects, from luxury estates to more affordable housing options, ensuring that their offerings cater to both the elite and middle-class demographics. With a presence in strategic cities like Lagos, Ibadan, Abuja, and beyond, Adron Homes has successfully expanded its footprint, creating a unique blend of architectural elegance, functionality, and modern living.

One of the major factors contributing to Adron Homes’ continued success is its focus on innovation and large-scale projects that reflect the aspirations of the modern Nigerian family. From residential estates that offer state-of-the-art facilities to eco-friendly environments designed to foster community living, the company is at the forefront of redefining urban living.

Key projects such as its Town Park and Gardens Emuren Imota, Eko City Park and Gardens, Lekki Epe,  Grandview Park and Gardens in Atan-Ota, Treasure Parks and Gardens in Shimawa, and Rehoboth Park and Gardens in Ibeju-Lekki are prime examples of how Adron is revolutionizing real estate in the country. These estates boast modern infrastructure, well-planned layouts, and amenities that enhance the quality of life—such as parks, recreational centers, and security networks.

What truly sets Adron apart is its focus on delivering high-value estates at affordable prices. This strategy has opened the doors for middle-class Nigerians to invest in quality homes and land, an opportunity that was previously reserved for the affluent. The company offers flexible payment plans, making it easier for individuals to own properties without the overwhelming burden of upfront payments.

In addition to affordability, Adron Homes is also committed to sustainable development. The company integrates eco-friendly practices into its projects, such as the use of solar energy, rainwater harvesting systems, and green spaces, ensuring that its estates not only meet today’s needs but are also future-proofed for tomorrow’s environmental challenges.

As cities continue to grow and urbanization rates in Nigeria soar, Adron’s focus on creating communities that promote wellness and sustainability becomes increasingly significant. The design of these estates encourages walkability, reduces carbon footprints, and promotes environmental stewardship, which is crucial in addressing the impacts of climate change in urban areas.

Beyond real estate, Adron Homes is making significant contributions to social and economic development. The company is not just creating homes but building communities. Through job creation, Adron Homes has provided employment for thousands of Nigerians, from architects and construction workers to administrative and sales personnel.

The company’s outreach programs, such as Adron Empowerment Initiatives, have also impacted lives across the nation, providing skills training, scholarships, and small-scale business support to those in need. This commitment to corporate social responsibility ensures that Adron is not only a commercial success but a company deeply rooted in community development and empowerment.

Operating in the Nigerian real estate sector comes with its challenges. Factors such as fluctuating foreign exchange rates, inflation, and unstable government policies pose significant risks. However, Adron Homes has demonstrated remarkable resilience, maintaining its growth trajectory while navigating these hurdles.

The company’s ability to weather economic storms is largely attributed to its sound financial management, diverse portfolio, and innovative approach to overcoming obstacles. By staying ahead of trends and embracing technology, Adron continues to adapt to the changing real estate landscape, setting an example for others in the industry.

As Adron Homes looks to the future, its growth plans remain ambitious. The company is expanding its portfolio beyond residential estates to include commercial real estate, hospitality, and tourism developments. This diversification aligns with Nigeria’s growing demand for multi-purpose urban spaces and integrated living solutions.

In line with this, Adron has already begun the development of estates tailored to emerging real estate trends, such as smart homes and tech-enabled buildings that reflect the shifting dynamics of the global property market. As Nigeria’s population continues to grow, and urbanization trends increase, Adron is positioning itself to be a key player in shaping the cities of the future.

In a country where the housing deficit continues to pose a major challenge, Adron Homes stands out as a transformative force. Its ability to blend affordability with luxury, coupled with its innovative approach to real estate development, has set the company apart as a leader in the Nigerian market.

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Business Marketing online Platform Kwanza.com Connecting local buyers and international sellers.

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Business Marketing online Platform Kwanza.com Connecting local buyers and international sellers.

Dependable and reliable platform tested and trusted Kwanza.Com is on it again.

connecting international buyers to local sellers with full security assurance of any good and service.

For more details on all the services on this credible online selling and buying platform kindly log in to

www. kwanzo.Com… https://www.facebook.com/share/v/sXkVZJpjQn62a3Jq/?mibextid=oFDknk

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