BUA Foods Leads Nigeria's Consumer Goods Profitability

In the first half of 2026, BUA Foods emerged as Nigeria’s most profitable consumer goods company, achieving a net profit margin of 38.2%, up from 28.52% in H1 2025, despite a 16.1% decline in revenue to N765 billion. The company's profit after tax rose 12.4% to N292.27 billion.

Nascon Allied Industries ranked second with a profit margin increase to 24.2% from 2%, generating N19.6 billion in profit on N81 billion in revenue. Dangote Sugar Refinery experienced a turnaround, moving from a negative 5.64% margin in H1 2025 to a positive 10.5% in H1 2026, with profits rising to N41.51 billion despite a revenue drop to N392 billion.

Nestlé Nigeria also improved its margin to 9%, while some companies like Nigerian Breweries and Unilever Nigeria reported declines in profit margins. The overall consumer market in Nigeria is facing mixed cost pressures, affecting manufacturers' ability to maintain margins.