BUA Group has announced an $85 million investment to expand its BUA Ports and Terminals facility in Port Harcourt, a move aimed at supporting the company’s growing food business and enabling it to handle more than two million tonnes of imported raw materials annually.
Gatekeepers News reports that Chairman of BUA Group, Abdul Samad Rabiu, disclosed the investment during a visit to the Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, at the authority’s headquarters in Lagos.
Rabiu said the visit was to appreciate the NPA for its support and provide an update 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’re making as regards the expansion of our BUA Ports and Terminals in Port Harcourt,” he said.
“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.”
Expansion to Support BUA Foods Growth
Rabiu explained that the expansion is essential to accommodate the rapid growth of BUA Foods’ operations in Port Harcourt.
“As you know, BUA Foods is operating in Port Harcourt, and BUA Foods is expanding, and by the time we are done with the expansion, inshallah, next year, we’ll be having almost over two million tonnes of products being imported as raw materials to Port Harcourt, and for that we need a terminal, we need a facility,” he said.
He disclosed that the port expansion project is valued at approximately $85 million and will provide about 600 metres of quay frontage, significantly increasing the terminal’s cargo-handling capacity.
“The ports expansion is about $80 million in total. It’s about $85 million in total, and that is going to give us about 600 metres of seaside,” Rabiu said.
According to him, the upgraded terminal will strengthen BUA’s logistics network as the conglomerate continues to expand across its food, cement, mining, infrastructure and other industrial businesses.
Rabiu also stressed the need for improved port infrastructure to unlock Nigeria’s economic potential.
“Nigeria, being the biggest economy, Lagos being the biggest economy, yet we don’t have the infrastructure as far as ports infrastructure is concerned,” he said.
The BUA chairman commended the NPA’s leadership for its support and thanked President Bola Tinubu for appointing the current management.
He recalled that the Port Harcourt terminal had previously faced the threat of losing its acquisition rights but said the project had progressed successfully with the support of the NPA.
“I remember that at a point even that terminal acquisition was revoked, but look at us, we are now here, and we’re getting all the support that we need from the management,” he added.
NPA Projects Higher Cargo Volumes
Speaking during the visit, Dantsoho described the investment as a major boost for Nigeria’s maritime sector, particularly the development of eastern ports.
He said the project would increase cargo throughput, boost revenue generation and enhance the competitiveness of Nigerian ports.
“He’s a major stakeholder for many years. And what he’s doing for us is something that is naturally expected of us to put together, to collaborate with them, the major stakeholders, and even the smallest stakeholders, and especially expanding in the eastern ports,” he said.
Dantsoho noted that BUA’s investments in both Lagos and Port Harcourt would contribute to balanced port development across the country.
“Now we know that he has invested a lot in Lagos. Now he’s investing also a lot in Port Harcourt.
“So in that way, our volumes will increase, which means that even if we are talking about exporting, we are exporting more. If we are talking about importing, we can import more. And by so doing, now we are going to make more value. That is money from those transactions. And that is what the government is expecting of us.”
The NPA managing director also praised President Tinubu for encouraging stronger collaboration between the authority and private investors.
On the expected impact of the project, he projected double-digit growth in cargo traffic and revenue.
“We are going to expect that we are going to have more volumes. Once you have volumes, then you have more value, then more dollars and more naira will come. And that is what is required,” he said.
Providing an estimate, Dantsoho added:
“On a normal day, 16 per cent is expected anywhere in the world in the port industry. So with this kind of development, I’m sure we can get like 13-14 per cent, which is a very fantastic thing to happen.”
He further noted that Nigeria’s ports have recently gained global recognition, with Tin Can and Apapa ports listed by S&P and the World Bank among the world’s 20 most improved ports.
The expanded Port Harcourt terminal is expected to significantly increase BUA’s cargo-handling capacity, positioning the company to meet rising import demand while supporting its broader industrial growth strategy.
