Nigerian consumer goods market sees growth

NIGERIA – The consumer goods sector on the Nigerian Exchange has reached a total market capitalization of N11.1 billion (US$7.4 million) as of the latest trading data. 

The sector is witnessing increased performances across several companies, with beverages and food products driving the growth.

Beverages sector maintains strong market presence

Golden Guinea Breweries PLC, despite an 8.91% price decline, retained its position with a market capitalization of N8.06 billion (US$5.4 million).
Other major players in the beverage segment, such as Guinness Nigeria PLC and Nigerian Breweries PLC, maintained their standings with market caps of N168.66 billion (US$0.11 billion) and N1.05 trillion (US$1 billion), respectively.

Food products industry leads market capitalization

In the food products category, BUA Foods PLC emerged as the leader with a market cap of N7.47 trillion (US$5 billion). BUA Foods Plc recently reported that its revenue surged by 109.3% to US$1.23 billion, compared to US$586.6 million in 2023.

Dangote Sugar Refinery PLC followed with a valuation of N443.36 billion (US$0.3 billion), further cementing the food sector’s impact on the overall market performance.

Food processing firms contribute to market expansion

Companies in the food processing segment, including Honeywell Flour Mills PLC and Nascon Allied Industries PLC, have continued to experience positive price movements. 

Their contributions to the sector’s expansion highlight growing investor confidence in the Nigerian food processing industry.

Market-wide capitalization growth

Beyond the consumer goods sector, 17 other companies across various industries have achieved a combined market capitalization of approximately N11.22 trillion (US$7.5 billion) on the Nigerian Stock Exchange. 

The growth is driven by key players in the food, beverage, and personal household products sectors, mirroring an overall positive market trend.