By ebosele@hotmail.com –
BUA Group has announced an $85 million investment in the expansion of its BUA Ports and Terminals facility in Port Harcourt as part of efforts to strengthen its logistics capacity and support the rapid growth of its food business.
Chairman of BUA Group, Abdul Samad Rabiu, disclosed this during a visit to the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, at the Authority’s headquarters in Lagos.
Rabiu 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.
“We’re here to, first of all, thank the MD and his team for the support we’re getting, and also to brief NPA and the management on the progress we are making as regards the expansion of our BUA Ports and Terminals in Port Harcourt,” he said.
According to him, work on the project has advanced significantly, adding that the company also sought additional support from the Authority to ensure its successful completion.
“We’ve gone very far, and we thought it’s important for us to come brief the management and also ask for additional support, and I’m happy that the MD and his team have promised that they’ll continue to give us all the necessary support,” Rabiu added.
He explained that the investment is being driven by the ongoing expansion of BUA Foods, which will significantly increase the volume of raw materials imported through Port Harcourt.
“As you know, BUA Foods is operating in Port Harcourt, and BUA Foods is expanding. By the time we are done with the expansion, Insha Allah, next year, we’ll be importing over two million tonnes of raw materials annually through Port Harcourt, and for that we need a modern terminal and facility,” he said.
Rabiu disclosed that the terminal expansion, valued at about $85 million, will provide approximately 600 metres of quay frontage, significantly boosting cargo-handling capacity.
“The ports expansion is about $85 million in total, and that is going to give us about 600 metres of seaside,” he said.
He noted that the expanded terminal would strengthen BUA’s logistics backbone as the conglomerate continues to grow across its food, cement, mining, infrastructure and other industrial businesses.
Rabiu stressed that Nigeria’s economic potential cannot be fully realised without modern port infrastructure, noting that despite being Africa’s largest economy, the country still faces significant infrastructure gaps in the maritime sector.
He commended the management of the NPA for its professionalism and dedication and also thanked President Bola Tinubu for appointing the current leadership of the Authority.
Rabiu recalled that the Port Harcourt terminal had at one point faced the threat of losing its acquisition rights but said the support of the current NPA management had enabled the company to move ahead with the project.
“I remember that at a point even that terminal acquisition was revoked, but today we’re getting all the support we need from the management,” he said.
Responding, the Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho, described the investment as a major boost to trade, cargo throughput and the development of Nigeria’s eastern ports.
He said the Authority remains committed to collaborating with investors to improve port efficiency, increase cargo volumes and generate greater economic value for the country.
“He’s a major stakeholder, and what he’s doing is exactly the kind of partnership we encourage. We must continue collaborating with both major and smaller stakeholders, especially to expand activities in the eastern ports,” Dantsoho said.
According to him, BUA’s growing investments in both Lagos and Port Harcourt will help create a more balanced and efficient national port system.
“With this investment, cargo volumes will increase. Whether it’s imports or exports, increased volumes translate into greater value, more revenue and more economic opportunities for Nigeria,” he stated.
Dantsoho also acknowledged President Tinubu’s support for stronger collaboration between the NPA and private sector investors, describing such partnerships as essential to making Nigerian ports more competitive in West Africa and across the continent.
He projected double-digit growth in cargo throughput and revenue from the investment, noting that the port industry typically records annual growth of about 16 per cent globally.
“With this kind of development, I’m confident we can achieve about 13 to 14 per cent growth, which would be a remarkable performance,” he said.
The NPA boss further noted that Nigeria’s ports have continued to improve their global competitiveness, citing the recent recognition of Apapa and Tin Can ports by the World Bank and S&P Global Market Intelligence among the world’s 20 most improved ports.
He attributed the achievement to closer collaboration between the Authority and private sector operators.
“This progress is not the work of the NPA alone. It is the result of stronger partnerships with stakeholders, and that is the direction we must continue to pursue,” Dantsoho said.
The expansion of the Port Harcourt terminal is expected to significantly increase BUA’s cargo-handling capacity, enhance supply chain efficiency and support the company’s long-term industrial growth strategy while contributing to the development of Nigeria’s maritime sector.
