Nigeria’s beverage and food sectors have collectively achieved a total market capitalisation of N10.84tn, according to end-of-Wednesday trading data on the Nigerian Exchange Limited.
The beverage sector, comprising breweries and distilleries, recorded a combined market capitalisation of N2.06tn. Industry giants like Nigerian Breweries Plc. and International Breweries Plc. drove the numbers, contributing N997.65bn and N908.77bn, respectively.
However, the sector saw mixed price movements, with Guinness Nigeria Plc. experiencing a 7.47 per cent decline in its share price, closing at N65.00. Other players, such as Golden Guinea Breweries Plc., contributed a modest N8.85bn, while trading volumes in the sector reached 3.87 million shares across 197 trades.
The food products sector emerged as the largest contributor, with a market capitalisation of N8.04tn, led by BUA Foods Plc. at an impressive N7.47tn. Other notable players included Dangote Sugar Refinery Plc., which recorded a market cap of N400.85bn, and Honeywell Flour Mills Plc., which achieved a market cap of N72.24bn. However, some companies, such as Multi-Trex Integrated Foods Plc., reported no trading activity, reflecting ongoing operational challenges.
The diversified food products category, dominated by multinationals, posted a market capitalisation of N745.56bn. Nestlé Nigeria Plc. led the sub-sector with a remarkable N693.57bn, while Cadbury Nigeria Plc. accounted for N51.99bn.
