Largest consumer goods companies in Nigeria based on total assets in H1 2025

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The NGX Consumer Goods sector is home to some of the market’s biggest players, which are large-cap companies whose price swings can set the tone for the broader index.

Tracked by the NGX Consumer Goods Index, the sector commands a market capitalization of over N18 trillion, often neck and neck with the Industrial Goods sector for the top spot.

One of the defining features of this sector is the sheer size of its companies’ balance sheets, particularly their total assets.

Large total assets do not just signal capacity for higher revenue generation; they also serve as strong collateral for financing, inspire investor confidence, and provide resilience against economic shocks.

In this report, we spotlight the top 10 consumer goods companies ranked by their latest total assets, a metric that reflects their scale and dominance in the market.

Collectively, these top 10 companies hold total assets worth N5.9 trillion, up 5.89% from their previous cumulative figure of N5.6 trillion, reflecting steady growth.

That being said, here’s the list of the sector’s asset heavyweights.

Nascon Allied Industries Plc – (N111.6 billion)

Nascon Allied Industries Plc comes in at 10th place with total assets of N111.6 billion, up 42.20% from N78.5 billion reported in December 2024.

The salt and seasoning producer holds a market capitalization of N262.6 billion, making up about 1.4% of the total market cap of the sector.

In the second quarter ended June 2025, Nascon posted a pretax profit of N11.9 billion, a 121.98% jump from last year, bringing its half-year profit to N23.2 billion.

• This was supported by strong sales, with quarterly revenue rising 35.39% to N36.3 billion, lifting the half-year total to N78.1 billion from N50.4 billion.

Unilever Nigeria Plc – (N160.5 billion)

Unilever Nigeria Plc takes the 9th spot with total assets of N160.5 billion, representing a 13.3% increase from N141.6 billion in December 2024.

The company’s market capitalization stands at N439.8 billion, accounting for 2.3% of the index.

In Q2 2025, pretax profit surged to N13.4 billion from N1.9 billion, pushing half-year profits to N24.1 billion compared to N6.2 billion last year.

First-half revenue grew 53.50% to N98.1 billion, with food products contributing N58.6 billion, followed by personal care (N29.5 billion) and beauty (N9.8 billion).

PZ Cussons Nigeria Plc – (N163.9 billion)

PZ Cussons Nigeria Plc comes in 8th with total assets of N163.9 billion as at May 2025, up 4.4% from N157 billion in the same period last year.

The company’s market capitalization is N162 billion (0.9% of the sector).

For the year ended May 31, 2025, PZ Cussons recorded a pretax profit of N16.8 billion, reversing a loss of N108.1 billion in the previous year.

Revenue for the year rose 39.66% to N212.6 billion from N152.2 billion, boosted by stronger sales across its product lines.

Honeywell Flour Mills Plc – (N180.6 billion)

Honeywell Flour Mills Plc holds the 7th position with total assets of N180.6 billion as at June 2025, up 7.9% from N167.4 billion recorded in March 2025.

Its market capitalization stands at N203.9 billion (1.1% of the sector).

For the quarter ended June 2025, pretax profit soared to N3.3 billion, up 96.9% from N1.7 billion in Q2 2024. Quarterly revenue came in at N67.4 billion, down from N80.5 billion last year.

Guinness Nigeria Plc – (N273.5 billion)

Guinness Nigeria Plc ranks 6th with total assets of N273.5 billion as at June 2025, up 20.95% year-on-year.

The brewer’s market capitalization is N366.3 billion (1.9% of the entire sector).

In the quarter ended June 2025, Guinness swung to a pretax profit of N13.5 billion from a N13.2 billion loss last year, bringing year-to-date profit to N27.9 billion, compared to a N73.6 billion loss in 2024.

Half-year revenue grew to N496.6 billion from N299.4 billion, driven by stronger beer sales and better pricing.

International Breweries Plc – (N706.6 billion)

International Breweries Plc takes the 5th spot with total assets of N706.6 billion as at June 2025, slightly lower than N727.8 billion a year earlier.

Its market capitalization is N2.3 trillion, representing 12.3% of the sector.

In Q2 2025, the company posted a pretax profit of N26.4 billion, reversing a N61.8 billion loss last year. This lifted its half-year profit to N61.5 billion, from a N150.2 billion loss in 2024.

Revenue rose to N340.9 billion from N223.1 billion in H1 2025, powered by stronger beer and malt sales.

Nestlé Nigeria Plc – (N899.7 billion)

Nestlé Nigeria Plc comes in 4th with total assets of N899.7 billion in June 2025, up 4.78% from N858.6 billion last year.

The FMCG giant’s market capitalization is N1.6 trillion (8.5% of the sector).

It returned to profitability in Q2 2025 with a pretax profit of N37.2 billion, compared to a N56.4 billion loss in the same quarter last year. Hence, half-year profit stood at N88.3 billion, versus a N252.5 billion loss in 2024.

Revenue for the half year grew to N581.1 billion from N406.9 billion, fueled by strong domestic sales.

Dangote Sugar Refinery Plc – (N1.03 trillion)

Dangote Sugar Refinery Plc ranks 3rd with total assets of N1.03 trillion in June 2025, down 1.69% from December 2024.

The company’s market capitalization is N734.4 billion (3.9% of the sector).

In Q2 2025, it recorded a pretax profit of N523.8 million, compared to a N104.5 billion loss last year, cutting its half-year loss from N211.4 billion to N22.1 billion.

Revenue rose to N430.2 billion from N295.6 billion in H1 2025, on the back of rising domestic sugar sales.

Nigerian Breweries Plc – (N1.11 trillion)

Nigerian Breweries Plc takes the 2nd position with total assets of N1.11 trillion in June 2025, slightly down from N1.13 trillion in December 2024.

At a market capitalization of N2.3 trillion (12.6% of the sector), the brewer posted a Q2 pretax profit of N60.1 billion, reversing a N49.9 billion loss last year.

Hence, the half-year profit reached N130.8 billion, compared to a N115.4 billion loss in 2024.

Revenue for the half year climbed to N733.1 billion from N478.8 billion, driven by robust sales growth.

BUA Foods Plc – (N1.3 trillion)

BUA Foods Plc occupies the number one spot with total assets of N1.3 trillion in June 2025, up from N1.09 trillion in December 2024.

The food giant commands a market capitalization of N9.9 trillion, representing a dominant 52.6% of the sector.

In Q2 2025, pretax profit jumped to N139.7 billion from N76.8 billion, taking its half-year profit to N276.1 billion from N137.1 billion last year.

Half-year revenue reached N912.5 billion, up from N672.3 billion, led by fortified sugar sales (N303.7 billion) and bakery flour (N352 billion).