BUA Foods Record 22.85Billion Net Profit After Tax For Q1 2022… Details of Financial Statement

BUA Group’s new baby, BUA Foods is truly blazing the trail and the figures are looking up for investors as the company marches on even in first year of being listed.

BUA Foods is Nigeria’s leading food and fast-moving consumer goods (FMCG) business, which processes, manufactures, produces and distributes food materials such as sugar, flour, pasta, rice, and edible oils as well as packaged foods.

The Company’s products currently include fortified and non-fortified sugar, flour for large and small scale use, and pasta. In addition, the Company expects to commence the processing, manufacturing, production and distribution of rice by 2022 and edible oils by 2024.

To confirm its place, BUA Foods Plc has released its statement of profit or loss and other comprehensive income for the three months ended 31st March 2022 with 18.6% rise in group net profit after tax to N22.844 billion from N19.260 billion in Q1 2021.

Group turnover for the quarter rose to N90.067 billion from N70.203 billion in Q1 2021.

Earnings per share increased from 1.07 Naira in the corresponding period in 2021 to 1.27 in the new year, while total assets as well as current assets also increased accordingly.

The Company currently owns mills, plants, refineries, and plantations across different regions in Nigeria – they are Oil Mill, Rice Mill; Bassa Sugar Plantation; Lafiagi Sugar Plantation, Sugar Refinery; Sugar Refinery, Oil Mill; and Flour Mill, Pasta Plant, Sugar Refinery.

Read full details

Comments

Court Sets Aside Arrest, Remand, Wanted Declaration Against Hammed Tajudeen Akanbi

A Magistrate Court sitting in Ogba, Ikeja, Lagos, has set aside its earlier ex-parte order authorizing the arrest, remand, and “wanted” declaration of Hammed Tajudeen Akanbi, also known as Hammed Ajiran. The development follows the earlier declaration of Akanbi as wanted for alleged multiple murder by the Lagos State Commissioner of Police, Moshood Olorundare Jimoh, on February 19, 2026. However, in a ruling delivered today, Magistrate L.A. Owolabi of Magistrate Court 3 nullified the ex-parte order initially granted on February 16, 2026. In his decision, Magistrate Owolabi held that the order was obtained through the concealment of material facts. The court specifically noted that the counsel who filed and argued the application, Nosa Watson Uhumwangho, was under suspension by the Legal Practitioners Disciplinary Committee at the time and therefore lacked the right of audience before the court. The ruling sparked jubilation among members of the youth wing of the Ojomu royal family, who...

Court Cautions Police, Orders Proper Invitation of Hammed Tajudeen Akanbi

A Lagos State Magistrate Court has cautioned the Lagos State Police Command and directed that proper procedures be followed in the handling of the case involving Mr. Hammed Tajudeen Akanbi, also known as Hammed Ajiran, in what is seen as a setback for individuals including Bashir Fakorede, Jide Akinloye, and Assistant Inspector-General of Police, AIG Jimoh Moshood. Presiding over proceedings in the Ogba Magisterial District, Magistrate A. J. Odueke, in Charge No: MISC/126/2026, held that the police must formally invite Akanbi rather than declare him wanted. The Court further stated that an order for arrest would only be considered if he fails to honour such an invitation. The Court noted that it was mindful of previous proceedings in Charge No: MCIK/60A/2026, where a similar application had earlier been set aside by another Magistrate on March 23, 2026, on the grounds of illegality. Consequently, the Court declined to entertain what it described as a repetition of a defective process. ...

TASA Strengthens Alliance With Lagos Student Leaders, Sets Campus Mobilization in Motion Ahead of 2027 General Election

The Tinubu–Ambode Support Associates (TASA) today Wednesday, December 4, 2025, convened a strategic stakeholders’ meeting with student union leaders from across Lagos State, reaffirming the critical role of young people in shaping the democratic direction of the state as preparations intensify toward the 2027 general elections. The meeting, attended by representatives of 11 tertiary institutions under the coordinated leadership of the Joint Campus Committee (JCC), NANS Lagos Chapter, provided a robust platform for frank political discourse, progressive engagement, and actionable strategies for youth driven political mobilization. TASA leadership briefed the students on the urgent necessity of active participation in governance, noting that voter apathy particularly among young people significantly affected the 2023 general elections. The association emphasized that the era of leaving political decisions solely in the hands of politicians must end, as such disengagement onl...

Rountrip

Search This Blog