Rabiu attributed much of the inflationary pressure to speculative hoarding of commodities like paddy rice during harvest season
The contract was formalized at a signing ceremony in Dubai, attended by Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group, and Okcul Barlik, CEO of Agrimac Makina Limited.
The company’s revenue also climbed 24% year-on-year to N442.1 billion (US$363.6 million), buoyed by strong performances in flour, rice, and pasta segments.