Eight of Nigeria’s largest listed consumer goods companies paid a combined N190.66bn in income tax in the first half of 2026, a 53 per cent jump from the N124.59bn they paid in the corresponding period of 2025, The PUNCH has found.
An analysis of the fast-moving consumer goods companies’ unaudited results showed the rise in tax payments outpaced the sector’s growth in pre-tax profit, which climbed 48.8 per cent over the same period. It pushed the blended effective tax rate for the group from 38.3 per cent in the first half of 2025 to 39.4 per cent in the first half of 2026.
The companies covered are Nestlé Nigeria, NASCON Allied Industries, Nigerian Breweries, Cadbury Nigeria, International Breweries, Dangote Sugar Refinery, Guinness Nigeria and Champion Breweries.
The figures come as companies report their first full half-year under Nigeria’s revised tax regime, which took effect in January 2026.
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