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FMCGs trim losses but naira plunge still weighs - BUSINESSDAY
Nigeria’s fast-moving consumer goods (FMCG) sector is showing signs of recovery after a turbulent year marked by sharp currency depreciation and import cost shocks. Data gathered by BusinessDay shows that the recent stability of the naira has led to a drop in FX losses across six FMCG companies, falling from N420.8 billion in Q1 2024 to N27.3 billion in Q1 2025. Nestlé Nigeria, Nigerian Breweries, Dangote Sugar, BUA Foods, International Breweries, and Nascon all reported significant declines in FX-related losses during the period. Nigeria’s fast-moving consumer goods (FMCG) sector is showing signs of recovery after a turbulent year marked by sharp currency depreciation and import cost shocks.
Data gathered by BusinessDay shows that the recent stability of the naira has led to a drop in FX losses across six FMCG companies, falling from N420.8 billion in Q1 2024 to N27.3 billion in Q1 2025. Nestlé Nigeria, Nigerian Breweries, Dangote Sugar, BUA Foods, International Breweries, and Nascon all reported significant declines in FX-related losses during the period.
