Abdulsamad Rabiu is About to Build the Next Big Refinery for Nigeria

Nigerian billionaire Abdulsamad Rabiu is once again making headlines, with a major move that could reshape Nigeria’s palm oil industry. 

Through his conglomerate, BUA Group, Rabiu is partnering with Swedish engineering giant Alfa Laval to build a state-of-the-art palm oil refinery and fractionation plant in Nigeria.

But this isn’t just another industrial project, it’s a powerful statement. A 1,000-ton-per-day capacity refinery signals intent: to reduce Nigeria’s reliance on imported palm oil, expand local processing, and stimulate economic growth. For a country that has struggled to meet its domestic food needs, this is a step in the right direction.

It is a strategic partnership with global reach

Alfa Laval, known globally for innovation in food and water technology, is bringing its expertise to the table. Together with BUA Group, they aim to create a facility that prioritizes sustainability, efficiency, and long-term impact. 

The agreement, signed by Alfa Laval’s Vice President Panjak Maheshwari and Rabiu himself, marks a serious commitment to boosting Nigeria’s agricultural processing power.

This refinery is expected to improve local supply chains, provide more jobs, and strengthen Nigeria’s industrial self-sufficiency all while promoting eco-friendly manufacturing and farming practices.

Building on a legacy of expansion

For Rabiu, this move follows a string of aggressive expansions. Just recently, BUA Group commissioned a massive plasterboard and Plaster of Paris (P.O.P) facility in Port Harcourt. 

That same season, they teamed up with Austria’s Starlinger & Co. to launch a high-capacity packaging plant capable of producing 600 million polypropylene bags annually.

Now, with this new palm oil refinery, BUA is reinforcing its presence in Nigeria’s food and manufacturing industries. It also strengthens the position of BUA Foods Plc as a dominant force in the market.

BUA Foods is booming

Rabiu’s food business is not just expanding it’s thriving. From sugar and flour to rice and pasta, BUA Foods is becoming a household name. In 2024 alone, the company more than doubled its profits, soaring from ₦112.1 billion to ₦266 billion.

This jump wasn’t by luck, it was driven by smart pricing, growing demand, and efficient production.

Revenue also saw a massive leap, crossing the ₦1.5 trillion mark. Products like fortified sugar and flour contributed significantly to this growth, and the company shows no signs of slowing down.

How it is a bigger vision for Nigeria

Beyond business growth, Rabiu’s latest project reflects a deeper mission: to help Nigeria feed itself. With the country still grappling with food insecurity and high import bills, investments like this offer a long-term solution. 

They build local capacity, create thousands of jobs, and keep more of the food value chain within Nigeria’s borders.

And for Rabiu Nigeria’s third-richest man with a net worth of $4.9 billion, it’s more than profit. It’s legacy. It’s leadership. It’s the belief that Nigeria’s future is worth building, one factory at a time.

So, is this the next big refinery Nigeria has been waiting for? It just might be. And if Rabiu’s track record is anything to go by, it’ll be a game-changer.