Nigeria’s Beverage and Food Industries Reach N10.84tn Market Capitalisation
The combined market capitalisation of Nigeria’s beverage and food industries has reached an impressive N10.84tn, according to data from the Nigerian Exchange Limited as of Wednesday’s trading session.
Beverage Sector Highlights
The beverage sector, encompassing breweries and distilleries, recorded a total market capitalisation of N2.06tn. Leading contributors include:
- Nigerian Breweries Plc.: N997.65bn
- International Breweries Plc.: N908.77bn
Despite the strong overall performance, Guinness Nigeria Plc. experienced a 7.47% decline in share price, closing at N65.00. Other players, such as Golden Guinea Breweries Plc., contributed a more modest N8.85bn. Trading volumes in the sector reached 3.87 million shares across 197 trades.
Food Sector as a Market Leader
The food products sector emerged as the dominant contributor, achieving a market capitalisation of N8.04tn. Major players include:
- BUA Foods Plc.: N7.47tn
- Dangote Sugar Refinery Plc.: N400.85bn
- Honeywell Flour Mills Plc.: N72.24bn
However, operational challenges persisted for companies like Multi-Trex Integrated Foods Plc., which reported no trading activity.
Diversified Food Products Category
The diversified food products sub-sector also made significant contributions, with a market capitalisation of N745.56bn. Key players in this category include:
- Nestlé Nigeria Plc.: N693.57bn
- Cadbury Nigeria Plc.: N51.99bn
This sub-sector continues to be driven by multinational corporations, underscoring their pivotal role in Nigeria’s food industry.
