Nigerian Firms Report N3.06tn Profit in H1 2026

In the first half of 2026, eleven firms listed on the Nigerian Exchange Limited (NGX) reported a combined profit of N3.06 trillion, reflecting improved earnings despite ongoing economic pressures. FirstHoldCo Plc demonstrated remarkable financial performance, with profit before tax rising by 83.5% to N653.5 billion and profit after tax climbing by 81.6% to N526.1 billion for the period ending June 30, 2026.

Group Chairman Femi Otedola described these results as a significant achievement in the company's transformation journey. United Capital Plc also reported a profit before tax of N24.78 billion, a 79.62% increase year-on-year.

The cement sector saw strong results, with Dangote Cement Plc posting a profit after tax of N638.53 billion, a 22.69% increase, while BUA Cement and HBM Nigeria Plc also reported substantial profit growths of 79.59% and 57.03%, respectively. These results underscore the resilience of these firms amidst challenges such as inflation and exchange rate volatility.