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Nigerian (NSE) Food Industry Analysis

UpdatedOct 09, 2025
DataAggregated Company Financials
Companies13
  • 7D0.3%
  • 3M32.1%
  • 1Y79.9%
  • YTD70.1%

Last week, the Food industry hasn't moved much but UAC of Nigeria is up 8.5% in that time. The past year has been better, since the industry has gained 80% in that time. Looking forward, earnings are forecast to grow by 63% annually.

Industry Valuation and Performance

Has the Nigerian Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Oct 2025₦15.4t₦4.0t₦570.9b14.5x27.1x3.8x
Sat, 06 Sep 2025₦14.6t₦4.0t₦570.9b14.5x25.6x3.6x
Mon, 04 Aug 2025₦13.0t₦4.0t₦570.5b14.9x22.8x3.2x
Wed, 02 Jul 2025₦11.5t₦3.7t₦376.9b12.8x30.6x3.1x
Fri, 30 May 2025₦10.6t₦3.7t₦372.4b13.3x28.4x2.9x
Sun, 27 Apr 2025₦9.7t₦3.4t₦216.5b12.1x44.9x2.8x
Tue, 25 Mar 2025₦9.6t₦3.3t₦257.9b12.9x37.4x3x
Thu, 20 Feb 2025₦8.4t₦2.6t₦446.8b10.3x18.8x3.3x
Sat, 18 Jan 2025₦8.8t₦2.2t₦322.6b11.9x27.1x4x
Mon, 16 Dec 2024₦8.5t₦5.2t₦351.1b8.2x24.1x1.6x
Wed, 13 Nov 2024₦8.4t₦5.2t₦351.0b9.3x23.9x1.6x
Fri, 11 Oct 2024₦8.4t₦4.5t₦269.7b13.8x31.2x1.9x
Sun, 08 Sep 2024₦8.4t₦4.5t₦269.7b9.9x31.1x1.9x
Tue, 06 Aug 2024₦8.0t₦4.5t₦270.9b10.2x29.5x1.8x
Thu, 04 Jul 2024₦7.9t₦3.9t₦200.6b14.1x39.2x2x
Sat, 01 Jun 2024₦7.7t₦3.7t₦219.4b9.5x35.2x2.1x
Mon, 29 Apr 2024₦8.2t₦3.7t₦122.2b10.7x67.3x2.2x
Wed, 27 Mar 2024₦8.3t₦3.7t₦131.6b11x63.3x2.2x
Fri, 23 Feb 2024₦8.1t₦3.7t₦207.4b14.6x39x2.2x
Sun, 21 Jan 2024₦6.3t₦3.4t₦203.8b15.4x30.9x1.8x
Tue, 19 Dec 2023₦5.1t₦3.4t₦203.6b11.5x24.9x1.5x
Thu, 16 Nov 2023₦5.2t₦3.4t₦203.6b11.5x25.5x1.5x
Sat, 14 Oct 2023₦5.2t₦3.2t₦215.2b16.1x24x1.6x
Mon, 11 Sep 2023₦4.9t₦3.2t₦215.2b15.8x22.9x1.6x
Wed, 09 Aug 2023₦3.6t₦3.0t₦261.4b11.5x13.8x1.2x
Fri, 07 Jul 2023₦4.5t₦3.4t₦266.0b13.1x16.8x1.3x
Sun, 04 Jun 2023₦4.2t₦3.4t₦266.0b12x15.8x1.3x
Tue, 02 May 2023₦3.7t₦3.3t₦267.1b10.1x13.8x1.1x
Thu, 30 Mar 2023₦3.5t₦3.3t₦247.5b10.3x14x1.1x
Sat, 25 Feb 2023₦3.1t₦3.2t₦219.1b10.3x14.1x1x
Mon, 23 Jan 2023₦3.0t₦3.0t₦216.7b10.6x13.6x1x
Wed, 21 Dec 2022₦2.6t₦3.0t₦213.9b11.3x12.4x0.9x
Fri, 18 Nov 2022₦2.7t₦3.0t₦213.9b10.8x12.5x0.9x
Sun, 16 Oct 2022₦2.7t₦2.8t₦218.7b7.9x12.5x1x
Price to Earnings Ratio

12.5x


Total Market Cap: ₦2.7tTotal Earnings: ₦218.7bTotal Revenue: ₦2.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Food Industry Price to Earnings3Y Average 27.5x202320242025
Current Industry PE
  • Investors are relatively neutral on the Nigerian Food industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 27.5x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 38% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Nigerian Consumer Staples industry?

NG Market0.82%
Consumer Staples1.14%
Food0.32%
Packaged Foods and Meats0.37%
Agricultural Products0.042%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry, which is trading close to its 3-year average PE ratio of 35.8x.
    • Analysts are expecting annual earnings growth of 62.9%, which is lower than the prior year's growth of 87.6% per year.
  • Investors are most pessimistic about the Agricultural Products industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.1x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 63% over the next 5 years.
  • However this is lower than its past earnings growth rate of 88% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 63% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
UACN UAC of Nigeria₦72.708.5%
+₦16.7b		246.2%PE16.9x
CADBURY Cadbury Nigeria₦69.007.5%
+₦10.9b		279.1%PS1x
NASCON Nascon Allied Industries₦99.954.1%
+₦10.7b		228.8%PE10.3x
HONYFLOUR Honeywell Flour Mills₦23.004.5%
+₦7.9b		428.7%PE11.5x
ELLAHLAKES Ellah Lakes₦14.3016.7%
+₦7.9b		239.7%PS394.7x

Latest News

UACN
₦72.70
UAC of Nigeria
7D
8.5%
1Y
246.2%

UAC of Nigeria Plc Delivers Strong Q2 2025 Performance, Driven by Operational Efficiency and Segment Growth

UAC of Nigeria Plc: Strategic Expansion Through the Acquisition of Chivita|Hollandia (CHI Limited) Transaction Type: 100% Acquisition of CHI Limited by UAC of Nigeria Plc Regulatory Status: Approved by the Federal Competition and Consumer Protection Commission (FCCPC) Analyst View: Positive – Strengthens UAC’s FMCG leadership and unlocks value through product diversification, operational synergies, and local brand consolidation. Transaction Overview UAC of Nigeria Plc (UACN) has received final regulatory approval from the Federal Competition and Consumer Protection Commission (FCCPC) for the acquisition of Chivita|Hollandia (CHI Limited) , marking the completion of one of Nigeria’s most high-profile consumer goods deals in recent years.
ELLAHLAKES
₦14.30
Ellah Lakes
7D
16.7%
1Y
239.7%

Ellah Lakes Plc – Capital Raise and Strategic Debt Conversion Signal a Bold Turnaround Play

Ellah Lakes Plc: Strategic Expansion Through ARPN Acquisition Transaction Overview Ellah Lakes Plc has entered into an agreement to acquire 100% of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE Ltd , a Singapore-based entity jointly owned by Tolaram Africa and Valuestar Holdings. The deal—subject to FCCPC regulatory clearance —is expected to close by December 2025 and significantly expand Ellah Lakes’ footprint in the oil palm and cassava value chains.
LIVESTOCK
₦7.95
Livestock Feeds
7D
4.6%
1Y
131.1%
CADBURY
₦69.00
Cadbury Nigeria
7D
7.5%
1Y
279.1%
NASCON
₦99.95
Nascon Allied Industries
7D
4.1%
1Y
228.8%
MCNICHOLS
₦3.34
McNichols
7D
-7.2%
1Y
135.2%
FTNCOCOA
₦5.60
FTN Cocoa Processors
7D
-4.1%
1Y
196.3%
HONYFLOUR
₦23.00
Honeywell Flour Mills
7D
4.5%
1Y
428.7%