Another largest refinery set to take off in Nigeria as billionaire Abdulsamad Rabiu partners foreign firm

The Food & Water Division of Swedish company Alfa Laval has teamed up with Nigerian billionaire Abdul Samad Rabiu’s BUA Group, one of Africa’s fastest-growing industrial conglomerates, to construct a state-of-the-art palm oil refinery in Nigeria.

The deal, which was signed by Panjak Maheshwari, vice president of Alfa Laval, and Abdul Samad Rabiu, founder and executive chairman of BUA Group, is a significant step in increasing Nigeria’s supply of palm oil.

With a 1,000-ton-per-day capacity, Billionaire.africa reported that the new refinery and fractionation plant is anticipated to improve domestic processing and lessen the nation’s dependency on imported palm oil.

The site would promote sustainable manufacturing and agricultural practices in addition to bolstering Nigeria’s drive for industrial self-sufficiency. It’s a component of a larger initiative to boost economic growth in the palm oil industry, add value locally, and create jobs.

This project is the latest in a line of bold actions by Abdul Samad Rabiu, Nigeria’s third-richest man with a net worth of $4.9 billion. In December 2024, BUA Group expanded its activities with the introduction of a 2,400-ton-per-day Plaster of Paris (P.O.P.) and plasterboard plant in Port Harcourt.

At about the same time, the business made a significant investment to strengthen its supply chain by partnering with Austria’s Starlinger & Co. to establish a top-notch packaging facility that could produce about 600 million polypropylene bags a year.

Following those advancements, the new palm oil refinery expands BUA Group’s expanding presence in Nigeria’s manufacturing and food sectors. It also confirms the status of BUA Foods Plc — the group’s food business unit — as a leader in the market.

Sugar refining, oil milling, flour, pasta, and rice production are just a few of the major operations that BUA Foods operates. Abdul Samad Rabiu and his son, Isyaku Naziru Rabiu, jointly own a commanding 94.25 percent stake in the company, which is currently valued at $4.9 billion on the Nigerian Exchange (NGX).