BUA Targets 2 Million-Tonne Imports With $85m Port Expansion

…NPA Expects Double-Digit Cargo, Revenue Growth from BUA Port Investment – Dantsoho

By Aaron Ossai

BUA Group is investing approximately $85 million to expand its BUA Ports and Terminals facility in Port Harcourt as it prepares to handle more than two million tonnes of imported raw materials annually to support the continued expansion of its food business.

Chairman of BUA Group, Abdul Samad Rabiu, disclosed this during a courtesy visit to the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, at the Authority’s headquarters in Lagos.

He said the visit was to appreciate the support the company has received from the NPA and to update the management on the progress of the terminal expansion project.

Rabiu said construction work on the facility had advanced significantly and would play a crucial role in supporting the rapid growth of BUA Foods’ operations in Port Harcourt.

“We’re here to thank the MD and his team for the support we’re getting and also to brief the NPA management on the progress we are making with the expansion of our BUA Ports and Terminals in Port Harcourt,” he said.

According to him, the company has made substantial progress on the project and is seeking continued collaboration from the NPA to ensure its successful completion.

“We’ve gone very far, and we thought it was important to come and brief the management and also ask for additional support. I’m happy that the MD and his team have assured us they will continue to provide all the necessary support,” Rabiu added.

He explained that BUA Foods is undertaking a major expansion programme, making efficient port infrastructure essential to sustaining its increasing operations.

“As you know, BUA Foods operates in Port Harcourt, and the business is expanding. By the time we complete the expansion next year, Insha Allah, we will be importing more than two million tonnes of raw materials annually through Port Harcourt. For that, we need a modern terminal and the right facilities,” he said.

Rabiu stated that the port expansion project, valued at about $85 million, will provide approximately 600 metres of quay frontage, significantly strengthening the company’s logistics capabilities.

“The port expansion is about $85 million in total, and it will give us about 600 metres of seaside,” he said.

He noted that the upgraded terminal would support the growth of BUA’s operations across its food, cement, mining, infrastructure and other industrial businesses.

Rabiu stressed that improving port infrastructure remains critical to unlocking Nigeria’s economic potential, noting that despite being Africa’s largest economy, the country still faces significant infrastructure gaps in the maritime sector.

“Nigeria is the biggest economy in Africa, and Lagos is one of the biggest commercial centres, yet our port infrastructure is still inadequate,” he said.

He commended the NPA management for its professionalism and dedication while also expressing appreciation to President Bola Tinubu for appointing the current leadership of the Authority.

Rabiu also recalled that the Port Harcourt terminal project had previously faced the threat of losing its concession but said the support of the current NPA management had enabled the company to move the project forward.

“There was a time when the terminal acquisition was revoked, but today we are here, receiving all the support we need from the management,” he said.

Speaking during the visit, NPA Managing Director Dr. Abubakar Dantsoho described the investment as a significant boost to Nigeria’s maritime sector, projecting double-digit growth in cargo throughput and revenue as a result of the expansion.

He said the investment would increase cargo volumes, strengthen the competitiveness of Nigerian ports and generate greater revenue for the country.

According to Dantsoho, the Authority remains committed to working closely with investors to improve port efficiency and unlock greater economic value.

“BUA has remained a major stakeholder over the years. It is only natural that we continue to collaborate with major investors as well as smaller stakeholders, especially in expanding activities in the eastern ports,” he said.

He noted that BUA’s growing investments outside Lagos would contribute to a more balanced and efficient national port system.

“BUA has invested significantly in Lagos, and now the company is making major investments in Port Harcourt. This will increase our cargo volumes, improve both imports and exports, and ultimately generate more value and revenue for the country,” he said.

Dantsoho also commended President Bola Tinubu for encouraging stronger collaboration between the NPA and private sector investors.

“I appreciate Mr. Rabiu’s acknowledgement of Mr. President for encouraging us as management to work closely with stakeholders. That collaboration is essential if we are to make the Nigerian Ports Authority a stronger player in West Africa and across the continent,” he said.

On the expected impact of the project, Dantsoho said increased cargo volumes would translate into higher earnings for both the Authority and the economy.

“With more cargo volumes comes more value, more dollar earnings and more revenue in naira. That is exactly what is required,” he said.

Providing an outlook for the sector, he projected cargo throughput growth of between 13 and 14 per cent, describing it as a significant achievement for the industry.

“Globally, around 16 per cent growth is considered strong in the port industry. With this level of investment, I believe we can achieve between 13 and 14 per cent, which would be a remarkable performance,” he said.

Dantsoho also highlighted the recent improvement in the performance of Nigerian ports, noting that Tin Can and Apapa ports were recently recognised by S&P Global and the World Bank among the world’s 20 most improved ports.

He attributed the progress to stronger collaboration between the NPA and private sector operators.

“We cannot achieve this alone as the NPA. We need the private sector, and they also need us. That partnership has been missing for some time, but today we are working together, and the results are beginning to show,” he said.

Upon completion, the expanded Port Harcourt terminal will provide about 600 metres of quay frontage, significantly increasing BUA’s cargo-handling capacity and positioning the company to support rising import volumes while strengthening its broader industrial expansion strategy.