Top 10 consumer goods companies in Nigeria by sales in FY2025

The Nigerian consumer goods sector posted impressive sales in 2025, with the top 10 companies generating a combined N7.07 trillion in revenue.

This represented N1.56 trillion, or 28%, growth over 2024’s N5.51 trillion, signalling strong product demand across the market.

The 2025 revenue accounted for 98% of the total N7.2 trillion reported by all 14 companies tracked by the NGX Consumer Goods Index.

Efficient operations and lower foreign exchange losses enabled these companies to convert robust revenue into meaningful profitability at the bottom line.

Hence, the top 10 companies recorded a cumulative pre-tax profit of N1.007 trillion, rebounding from a N702.59 billion loss in 2024.

The strong performance likely fueled bullish sentiment, as the NGX Consumer Goods Index surged 129.6%, reflecting growing investor confidence over the period.

For this analysis, consumer goods companies are ranked by their 12-month revenue ending in any month in 2025, reflecting one full financial year. Here’s the list:

Vitafoam Nigeria (N111.3 billion) 

Vitafoam ranked 10th, reporting N111.37 billion in audited revenue for the year ended September 30, 2025, driven by foam sales of N109.8 billion, with furniture sales making up the remainder.

Most revenue came from domestic sales of N106.4 billion (95.6%), while international markets accounted for the rest, reflecting strong local demand.

Rising cost of sales, up 34.56% to N70.4 billion, left gross profit at N40.9 billion and operating profit at N27.2 billion after expenses.

Lower finance costs of N5.8 billion helped deliver profit before tax of N21.4 billion, representing a staggering 1,775% increase from 2024.

Total assets rose 25% to N65.2 billion, with inventories at N28.7 billion; retained earnings spiked 83.8% to N25.8 billion, while shares delivered a 300% return in 2025.

Nascon Allied Industries Plc (N152.6 billion) 

Nascon Allied Industries secured 9th place, reporting audited revenue of N152.68 billion in its 2025 financial year ended 31 December 2025, up 26.8% from N120.3 billion.

Salt remained the core driver, contributing N141.1 billion (92.46%), while seasoning added N11.5 billion, with northern Nigeria generating 75.8% of total sales.

Rising costs accompanied growth, with cost of sales at N78.7 billion, yet gross profit still climbed 33.2% to N73.9 billion.

After N20.7 billion in distribution and N8.9 billion in administrative expenses, operating profit reached N42.8 billion, with finance gains of N6.0 billion lifting pre-tax profit to N48.2 billion.

The balance sheet strengthened sharply, with total assets surging 72.3% to N135.2 billion and retained earnings reaching N69.3 billion.

Nascon Allied shares returned 242.9% in 2025, closing strong on the NGX, with year-to-date gains already above 37% in 2026.

Cadbury Nigeria (N169.8 billion) 

Cadbury Nigeria ranked 8th, reporting revenue of N169.8 billion in its unaudited report for the financial year ended December 31, 2025, up 31.5% from N129.1 billion in 2024.

Domestic sales drove growth, contributing N158.1 billion (93.1%), while exports made up N11.7 billion, highlighting strong local demand.

Cost of sales rose to N133.2 billion, but higher volumes and improved pricing lifted gross profit to N36.5 billion, with distribution and administrative costs leaving operating profit at N20.5 billion.

Net finance costs fell sharply to N3.2 billion as foreign exchange pressure eased, pushing pretax profit to N17.2 billion from a prior-year loss of N28.3 billion.

Total assets climbed 13.4% to N82.1 billion, equity expanded to N16.4 billion, and Cadbury shares returned 178.6% in 2025, with year-to-date gains exceeding 11% in 2026.

PZ Cussons Nigeria (N212.6 billion) 

PZ Cussons ranked 7th, reporting revenue of N212.6 billion in its audited financial year ended May 31, 2025, up from N152.2 billion in 2024, driven largely by home and personal care sales of N126 billion.

Durable electronic appliances contributed N86.5 billion, while the cost of sales jumped 57.9% to N154.9 billion, leaving gross profit at N57.7 billion, a modest 6.6% year-on-year improvement.

Selling and distribution costs rose to N17.8 billion, and administrative expenses to N14.7 billion, but sharply lower foreign exchange losses left operating profit at N18.9 billion, reversing the prior year’s loss.

Finance costs eased slightly to N3.6 billion, lifting pre-tax profit to N16.6 billion, while total assets grew to N168.9 billion.

Equity remained negative at N17.3 billion, improving from N27.5 billion, with accumulated losses of N38.7 billion still weighing heavily.

However, PZ Cussons’ shares delivered an 82.5% return in 2025, already up 68% year-to-date in 2026.

Guinness Nigeria Plc (N496.6 billion) 

Guinness Nigeria ranked sixth, reporting revenue of N496.6 billion for the 12 months ended June 30, 2025, up 65.8% from 2024.

The growth was driven by domestic sales, which made up over 98% of revenue, with N489.3 billion from local markets versus N7.2 billion from exports.

Operating expenses increased, especially in marketing and distribution to N18.9 billion, but strong gross profit left operating profit at N18.1 billion, up 469.5% year-on-year.

Finance costs dropped to N8.5 billion from N30.6 billion, mainly due to lower foreign exchange losses, allowing more revenue to flow through to profit.

On NGX, Guinness shares returned 398% in 2025, already up over 10% year-to-date in 2026.

International Breweries Plc (N620.1 billion) 

International Breweries posted N620.1 billion in unaudited revenue for the year ended December 31, 2025, up 26.8%, driven by strong beverage sales across Nigeria.

The fourth quarter alone contributed N147.5 billion, nearly a quarter of total revenue, highlighting peak-year demand and the dominance of domestic sales.

Cost of sales rose to N415.7 billion from N357.6 billion, but gross profit jumped to N204.4 billion, showing the business managed rising production costs efficiently.

Operating and distribution expenses reached N128.1 billion, yet foreign exchange losses collapsed to N2.9 billion from N113.5 billion, leaving operating profit at N73.7 billion, a sharp turnaround.

Total assets stood at N741.5 billion, with property, plant, and equipment leading at N339.8 billion; equity strengthened to N512.2 billion, and retained losses narrowed to N178.6 billion.

Company shares returned 152% in 2025, with year-to-date gains of over 3% in 2026.

Dangote Sugar Refinery Plc (N829.21 billion) 

Dangote Sugar occupied the 4th spot, posting N829.21 billion in revenue for the audited financial year ended December 31, 2025, up 24.6%, led by strong 50kg sugar sales.

50kg sugar contributed N807 billion, or 97.4% of revenue, reflecting strong demand for the flagship product, while retail sugar, molasses, and freight added N21.7 billion.

Regionally, Lagos led with 55.8% of sales, the North 35.4%, West 6.5%, and East 2.4%, showing broad nationwide revenue distribution.

Cost of sales rose 11.35% to N706.5 billion, mainly raw materials, leaving gross profit at N122.6 billion.

Operating profit reached N96.1 billion, aided by cost management and reversal of prior impairment losses, while finance income and lower charges improved pre-tax loss to N72.2 billion from N270.8 billion.

On the balance sheet, total assets stood at N965.9 billion, led by property, plant, and equipment of N613.4 billion; liabilities fell to N836.9 billion, and equity stood at N128.9 billion

Nestle Nigeria Plc (N1.2 trillion) 

Nestlé Nigeria ranked third, posting N1.2 trillion in revenue for the audited year ended December 31, 2025, up 26% from N958.8 billion, reflecting steady growth across its business.

The food segment drove performance with N784 billion, while beverages added N424 billion.

Cost of sales rose to N771.88 billion from N652.46 billion, yet gross profit climbed to N435.89 billion from N306.35 billion.

After accounting for finance income of N42.4 billion, profit before tax rebounded to N166.8 billion, reversing the prior-year N221.5 billion loss.

Total assets fell slightly to N846.16 billion, prepayments declined to N53.8 billion, equity turned positive at N12.89 billion, and the company’s shares returned 123.8% in 2025, already up over 65% year-to-date in 2026.

Nigerian Breweries Plc (N1.46 trillion) 

Nigerian Breweries stood strong in 2025, posting N1.467 trillion in revenue for the audited year ended December 31, 2025, up 35.2% from N1.08 trillion, driven almost entirely by domestic demand.

Local brewed-product sales accounted for N1.464 trillion, with exports contributing just N2.4 billion.

Cost of sales increased to N902.2 billion, yet gross profit jumped 76.7% to N565.1 billion, demonstrating strong margins.

Other income of N4.1 billion, mainly from scrap and asset disposal, helped offset rising operational costs, while selling, distribution, and administrative expenses increased moderately.

These gains lifted operating profit to N205.1 billion, supported by lower credit losses. Meanwhile, N1.7 billion in finance income pushed pre-tax profit to N161.06 billion.

The balance sheet remained strong, with total assets at N1.06 trillion and equity at N560.2 billion. In 2025, the company’s shares returned 135% to investors.

BUA Foods Plc (N1.8 trillion) 

BUA Foods led the sector in 2025, posting N1.8 trillion in unaudited revenue for the year ended December 31, 2025, up 18.1%, driven by stronger sales across all product lines.

Bakery flour contributed N704.7 billion (39%), followed by fortified sugar at N571.4 billion, pasta at N202.6 billion, non-fortified sugar at N184.1 billion, and head rice at N95.6 billion, with other products making up the remainder.

Rising sales lifted cost of sales to N1.13 trillion, mostly raw materials, leaving gross profit at N672.1 billion, up 24.3%, forming a solid earnings base.

Administrative expenses of N40.4 billion and selling and distribution costs of N68.7 billion rose, yet operating profit stayed strong at N565.3 billion, up from N472.1 billion, showing efficient operations.

Finance income of N7.5 billion and sharply lower finance costs of N14.3 billion lifted pre-tax profit 88.1% to N534.8 billion.

Total assets reached N1.3 trillion, led by N844.2 billion in “Due from related companies” and N394.8 billion in property, plant, and equipment. Total shareholder equity grew to N702.7 billion, with retained earnings up 65%.

In 2025, BUA Foods’ stock surged by over 92.5% on the Nigerian Exchange.