BUA Foods has joined the shipping world as the first of two vessels was delivered to the company.
The vessel, the MV Bandu, will sail to and from BUA’s port and terminal in Nigeria. The second vessel is expected to arrive by the end of the second quarter of this year.
By acquiring the two bulk carriers, BUA Foods is looking to increase its sugar export operations and promote trade throughout West Africa and other African countries.
Nigerian billionaire and Chairman of BUA Foods, Abdul Samad Rabiu, said having its own shipping vessels will enable the company to take control of its logistics and “benefit stakeholders and the Nigerian economy.”
“We see an increased and continued demand for refined sugar across the region with the attendant increase for logistics support to aid timely delivery, which is why it is important for us to strengthen our current capability with an own-controlled asset as we advance further in our business strategy. These new vessels will create operational efficiencies in our business and open possibilities for new services,” said Rabiu.
BUA Foods, created in 2021, produces flour, pasta, sugar, rice, and edible oil, and it has sugar refineries in Lagos and Port Harcourt.