Nigerian Breweries tops H1 2026 consumer goods revenue ranking, BUA Foods leads profit
By Aboki Forex —
Nigeria's listed consumer goods sector generated over N3.5 trillion in combined revenue in the first half of 2026, with Nigerian Breweries taking the top spot. The brewer recorded N803 billion in revenue, the first time any listed consumer goods company has crossed the N800 billion mark in six months.
BUA Foods came second with N765 billion revenue but dominated profitability. It posted N292.26 billion profit after tax, which is 49.47% of the combined N601.74 billion profit earned by the top 10 companies.
Top 10 by revenue
Nigerian Breweries also earned N92.95 billion profit after tax in H1 2026. BUA Foods maintained its position as one of Nigeria's largest manufacturers and recorded a net profit margin of 38.20%, the highest in the sector.
Nestlé Nigeria ranked third with N651 billion revenue and N64.77 billion profit after tax. Its net margin stood at 9.95%. Dangote Sugar Refinery was fourth with N392 billion revenue and N41.50 billion profit.
International Breweries placed fifth with N342 billion revenue and N38.31 billion profit. Guinness Nigeria was sixth with N265 billion revenue and N14.90 billion profit. Unilever Nigeria generated N119 billion revenue and N15.59 billion profit, ranking seventh.
Cadbury Nigeria came eighth with N83 billion revenue and N3.47 billion profit. NASCON Allied Industries was ninth with N81 billion revenue and N19.60 billion profit, giving it a 24.15% net margin. Champion Breweries completed the top 10 with N35 billion revenue and N2.64 billion profit.
Three breweries in top 10
Nigerian Breweries, International Breweries and Guinness Nigeria all made the list, showing the strength of beverage makers. Champion Breweries added a fourth brewing company to the ranking.
BUA Foods alone earned more than the combined profits of Nigerian Breweries, Nestlé Nigeria and Dangote Sugar, which together recorded N199.22 billion. Its 38.20% margin also beat NASCON's 24.15%, Nestlé's 9.95% and Cadbury's 4.17%.
What it means
The results show major consumer goods firms are growing revenue despite inflation, energy costs and foreign exchange volatility. BUA Foods' high margin suggests efficient cost control is paying off, even as household purchasing power stays under pressure.