Consumer Goods Index Hits 96.16% In 9 Months Amid Strong Demand, Earnings

Nigeria’s user goods assemblage witnessed a beardown 9 months of 2025, arsenic bumper net results from apical manufacturers drove important gains successful their stock prices connected the Nigerian Exchange (NGX).
This was driven by beardown first-quarter net releases and affirmative capitalist sentiment towards Fast-Moving Consumer Goods (FMCG) companies, which person demonstrated resilient pricing powerfulness amid inflationary pressures. In the play nether review, the scale appreciated by 96.16 per cent, outperforming the benchmark index, which closed astatine 38.09 per cent twelvemonth to day arsenic of September 26, 2025.

The index’s awesome show tin beryllium attributed to monolithic involvement successful cardinal user goods stocks, including BUA Foods, Nigerian Breweries, Nestle Nigeria, and Cadbury Nigeria. These companies person recorded beardown first-quarter and half-year firm earnings, driving capitalist assurance and sentiment.
In the play nether review, the NGX Insurance scale grew 72.39 per cent, portion the NGX Lotus II accrued by 68.65 per cent. The NGX Pension index, NGX Premium index, NGX Industrial Goods, NGX Banking index, and NGX 30 scale posted maturation of 47.69 per cent, 41.29 per cent, 39.82 per cent, 39.14 per cent, and 35.88 per cent, respectively.

Recall that the user goods assemblage was among the worst deed by the overseas speech crisis. By the extremity of 2022 and into aboriginal 2023, the situation severely impacted institution net and eroded shareholder value, causing galore firms successful the assemblage to study important losses. The volatile speech complaint situation inflated costs and undermined profitability.

Data from the Exchange showed that respective companies successful the assemblage person recorded important recoveries, returning to profitability for the archetypal clip since 2023. This turnaround is attributed chiefly to the Central Bank of Nigeria’s (CBN) strategical interventions to stabilise the naira and amended FX liquidity measures that person begun to trim the outgo pressures and currency-related losses that antecedently plagued the industry.

For instance, Cadbury Nigeria Plc returned to profitability successful 2024 aft suffering important losses successful the anterior year. BUA Foods and Honeywell Flour Mills besides defied FX-related headwinds to station beardown earnings, showcasing operational resilience and renewed maturation momentum.

Capital marketplace operators judge the turnaround successful the user goods assemblage is the effect of a operation of macroeconomic reforms, FX marketplace stability, and manufacture players’ operational efficiency.
They observed a re-rating of the user goods abstraction by investors who antecedently avoided the assemblage owed to FX-related volatility, arsenic respective companies successful the manufacture person shown they tin present beardown results adjacent successful challenging conditions, which is reshaping marketplace sentiment.

The vice president of Highcap Securities Limited, David Adnori, explained that the maturation successful the NGX Consumer Goods Index is accompanied by monolithic involvement successful BUA Foods, Nigerian Breweries, Nestle Nigeria, and Cadbury Nigeria, among different companies quoted successful the index. He added that price-sensitive accusation successful June 2025 whitethorn proceed to play a captious relation successful the companies’ downward oregon upward question connected the Exchange.

The president of the New Dimension Shareholders Association of Nigeria, Patrick Ajudua observed a resurgence successful capitalist involvement successful consumer-focused equities.

He attributed this inclination to the comparative stableness of the naira, a important simplification successful the interaction of FX losses, improved bottom-line performances, and the resumption of dividend payments, saying these affirmative developments person helped reconstruct capitalist assurance successful the sector.

Afrinvest Limited said, “We clasp a mildly optimistic outlook for the Consumer Goods assemblage successful H2. We expect the caller betterment successful FX stableness and reducing inflationary pressures to enactment an wide affirmative full-year 2025 bottom-line show for manufacture players.”

In the archetypal fractional (H1) of 2025, BUA Foods reported a 101 per cent year-on-year summation successful nett earlier taxation to N276.1 cardinal and a 36 per cent emergence successful gross to N912.5 billion.

Nestlé Nigeria delivered a beardown turnaround successful its Q2 2025 fiscal results, posting a pretax nett of N37.2 billion, a crisp rebound from the N56.4 cardinal nonaccomplishment recorded successful the aforesaid play past year. The betterment momentum extends crossed the half-year, with pretax nett reaching N88.3 billion, a singular comeback from the N252.5 cardinal nonaccomplishment reported successful H1 2024.