FMCGs’ tax bill jumps 53% to N190bn in H1 2026

In the first half of 2026, eight of Nigeria's largest consumer goods companies paid a combined N190.66bn in income tax, a 53 per cent increase from the N124.59bn paid in the same period of 2025. The rise in tax payments outpaced the sector's growth in pre-tax profit, which climbed 48.8 per cent over the same period. This led to a blended effective tax rate for the group increasing from 38.3 per cent to 39.4 per cent.

The companies analyzed include Nestlé Nigeria, NASCON Allied Industries, Nigerian Breweries, Cadbury Nigeria, International Breweries, Dangote Sugar Refinery, Guinness Nigeria, and Champion Breweries. The analysis highlights the wide gap in effective tax rates among the companies, with Champion Breweries recording the most favorable shift and International Breweries and Nigerian Breweries experiencing the steepest increases.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.