Consumer Goods Firms in Nigeria Hold N587 Billion Cash

As of June 2026, Nigeria's consumer goods companies collectively held approximately N587 billion in cash and cash equivalents, marking a 12.2% increase from N523 billion the previous year. This cash includes bank balances and short-term investments, which generated N31.08 billion in interest during the first half of 2026, compared to N22.76 billion in the same period of 2025.

The review covered nine listed companies: BUA Foods, Cadbury Nigeria, Dangote Sugar, Guinness Nigeria, International Breweries, Nascon, Nestlé Nigeria, Nigerian Breweries, and Unilever Nigeria. International Breweries led with N171.08 billion in cash, followed by BUA Foods with N149.52 billion.

The Central Bank of Nigeria's recent cut in the benchmark rate to 23% may impact deposit returns, prompting companies to focus on utilizing their cash effectively to enhance shareholder value. International Breweries' profit after tax fell from N41.29 billion to N38.31 billion despite increased interest income, while Unilever's revenue rose from N98.10 billion to N119.92 billion.