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Nigerian (NSE) Food Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies13
  • 7D7.5%
  • 3M29.0%
  • 1Y118.7%
  • YTD14.9%

Over the last 7 days, the Food industry has risen 7.5%, driven by gains from BUA Foods of 5.8%. This means that the industry has gained 119% over the past year. As for the next few years, earnings are expected to grow by 45% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026₦21.6t₦4.2t₦739.8b21.8x29.2x5.1x
Thu, 22 Jan 2026₦19.0t₦4.2t₦708.7b30.3x26.8x4.5x
Sat, 20 Dec 2025₦17.3t₦4.2t₦708.7b14.7x24.5x4.1x
Mon, 17 Nov 2025₦16.5t₦4.2t₦708.7b14.7x23.3x3.9x
Wed, 15 Oct 2025₦15.4t₦4.0t₦570.9b14.1x27x3.8x
Fri, 12 Sep 2025₦14.7t₦4.0t₦570.9b14.5x25.8x3.6x
Sun, 10 Aug 2025₦14.5t₦4.0t₦570.5b14.9x25.4x3.6x
Tue, 08 Jul 2025₦11.6t₦3.7t₦376.9b14.1x30.7x3.1x
Thu, 05 Jun 2025₦10.5t₦3.7t₦376.7b13.3x28x2.8x
Sat, 03 May 2025₦9.8t₦3.7t₦372.4b10.7x26.2x2.6x
Mon, 31 Mar 2025₦9.6t₦3.3t₦257.9b12.5x37.3x2.9x
Wed, 26 Feb 2025₦9.2t₦2.6t₦446.8b10.8x20.5x3.6x
Fri, 24 Jan 2025₦8.7t₦2.2t₦322.6b11.9x27.1x4x
Sun, 22 Dec 2024₦8.5t₦5.2t₦351.1b10.7x24.2x1.6x
Tue, 19 Nov 2024₦8.4t₦5.2t₦351.0b9.7x24.1x1.6x
Thu, 17 Oct 2024₦8.4t₦4.5t₦269.7b13.1x31.1x1.9x
Sat, 14 Sep 2024₦8.4t₦4.5t₦269.7b12.1x31.3x1.9x
Mon, 12 Aug 2024₦8.0t₦4.5t₦270.9b10.2x29.5x1.8x
Wed, 10 Jul 2024₦7.9t₦4.0t₦189.0b10.9x41.6x2x
Fri, 07 Jun 2024₦7.8t₦4.0t₦200.8b15.5x38.6x2x
Sun, 05 May 2024₦8.3t₦4.1t₦50.8b8.7x162.9x2x
Tue, 02 Apr 2024₦8.3t₦3.7t₦131.6b11x63.2x2.2x
Thu, 29 Feb 2024₦8.3t₦3.7t₦207.4b14.8x40.2x2.2x
Sat, 27 Jan 2024₦6.9t₦3.4t₦203.8b15.2x33.9x2x
Mon, 25 Dec 2023₦5.1t₦3.4t₦203.6b12.5x25x1.5x
Wed, 22 Nov 2023₦5.2t₦3.4t₦203.6b11.6x25.5x1.5x
Fri, 20 Oct 2023₦5.2t₦3.2t₦215.2b15.5x24.2x1.6x
Sun, 17 Sep 2023₦4.8t₦3.2t₦215.2b16.1x22.4x1.5x
Tue, 15 Aug 2023₦3.6t₦3.0t₦261.4b10.9x13.7x1.2x
Thu, 13 Jul 2023₦4.5t₦3.4t₦266.0b12.7x16.9x1.3x
Sat, 10 Jun 2023₦4.2t₦3.4t₦266.0b12.1x15.9x1.3x
Mon, 08 May 2023₦3.7t₦3.4t₦266.0b10x13.8x1.1x
Wed, 05 Apr 2023₦3.5t₦3.3t₦247.5b10.8x14x1.1x
Fri, 03 Mar 2023₦3.3t₦3.2t₦221.5b11x15.1x1x
Price to Earnings Ratio

15.1x


Total Market Cap: ₦3.3tTotal Earnings: ₦221.5bTotal Revenue: ₦3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Food Industry Price to Earnings3Y Average 29.1x202420252026
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 29.1x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 5.1x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 49% per year over the last three years.
  • Revenues for these companies have grown 9.6% 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 Market3.12%
Consumer Staples6.01%
Food7.53%
Agricultural Products16.98%
Packaged Foods and Meats5.44%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry even though it's trading below its 3-year average PE ratio of 37.9x.
    • Analysts are expecting annual earnings growth of 44.7%, which is lower than the prior year's growth of 90.9% 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 10.8x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 45% over the next 5 years.
  • However this is lower than its past earnings growth rate of 91% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 45% 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
PRESCO Presco₦2.32k14.9%
+₦350.5b		195.0%PE19.6x
OKOMUOIL Okomu Oil Palm₦1.61k21.0%
+₦265.8b		199.6%PE24.1x
NESTLE Nestlé Nigeria₦3.10k9.5%
+₦214.0b		217.9%PE26.7x
NASCON Nascon Allied Industries₦164.9513.8%
+₦53.9b		270.7%PE14.4x
UACN UAC of Nigeria₦105.9514.5%
+₦39.4b		194.3%PE359.9x

Latest News

OKOMUOIL
₦1,605.60
Okomu Oil Palm
7D
21.0%
1Y
199.6%
PRESCO
₦2,315.40
Presco
7D
14.9%
1Y
195.0%

High Quality Business and a true compounding machine

A conservative, forward premium valuation of ~ ₦3k as returns and cash flows continue to compound
BUAFOODS
₦760.60
BUA Foods
7D
-10.0%
1Y
82.0%

BUA Group – Strategic Sugar Refining & Agro-Logistics Corridor with AD Ports Group and MAIR Group

Author: Qudus Adebara BUA Group has signed a strategic Memorandum of Understanding (MoU) with AD Ports Group and MAIR Group in Abu Dhabi to develop a structured sugar refining and integrated logistics corridor between Nigeria and the UAE. The partnership is designed to strengthen regional food security, expand refined sugar trade flows, and establish a predictable agro-commodity export channel linking West Africa to the Gulf region.
NASCON
₦164.95
Nascon Allied Industries
7D
13.8%
1Y
270.7%
MCNICHOLS
₦8.47
McNichols
7D
0.8%
1Y
410.2%
ELLAHLAKES
₦10.40
Ellah Lakes
7D
-26.2%
1Y
223.0%
NESTLE
₦3,100.00
Nestlé Nigeria
7D
9.5%
1Y
217.9%
HONYFLOUR
₦23.25
Honeywell Flour Mills
7D
-0.4%
1Y
106.7%
LIVESTOCK
₦7.00
Livestock Feeds
7D
2.9%
1Y
11.5%

LIVESTOCK FEEDS PLC Q3 Result– Earnings Pressure Deepens Amid Cost Surge and Weak Market Dynamics Despite Strong Balance Sheet Stability

Analyst: Qudus Adebara Executive Summary Livestock Feeds Plc released its unaudited financial statements for the nine months ended 30 September 2025 , revealing a notable deterioration in earnings performance driven by persistent cost pressures and weakened revenue momentum. The Company posted a loss after tax of ₦326.54 million for the nine-month period, compared to a profit after tax of ₦1.42 billion in the corresponding period of 2024 — marking a significant year-on-year reversal in profitability.
CADBURY
₦70.75
Cadbury Nigeria
7D
4.0%
1Y
143.1%

CADBURY NIGERIA PLC Q3 Result – Strong Earnings Rebound as Profit Soars on Robust Revenue Growth and Operational Efficiency

Analyst: Qudus Adebara Executive Summary Cadbury Nigeria Plc delivered a remarkable turnaround in performance for the nine months ended 30 September 2025 , underscoring the effectiveness of its cost optimization, improved operational efficiency, and stronger consumer demand. The Company reported a profit after tax of ₦9.68 billion , a sharp recovery from the ₦11.86 billion loss recorded in the corresponding period of 2024 — representing a 182% year-on-year rebound.
UACN
₦105.95
UAC of Nigeria
7D
14.5%
1Y
194.3%
FTNCOCOA
₦6.00
FTN Cocoa Processors
7D
-7.4%
1Y
248.8%
DANGSUGAR
₦81.15
Dangote Sugar Refinery
7D
-2.7%
1Y
97.9%