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

Nigeria's largest listed consumer goods companies paid a combined N190.66bn in income tax in the first half of 2026, a 53% 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% over the same period, pushing the blended effective tax rate from 38.3% to 39.4%.

The eight companies covered include Nestlé Nigeria, NASCON Allied Industries, Nigerian Breweries, Cadbury Nigeria, International Breweries, Dangote Sugar Refinery, Guinness Nigeria, and Champion Breweries. The analysis comes as companies report their first full half-year under Nigeria's revised tax regime, which took effect in January 2026.

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