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Nestlé Nigeria
On this page
Company details
- Legal name
- Nestlé Nigeria Plc
- Listing
- NESTLE on the Nigerian Exchange, active · ISIN NGNESTLE0006 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, signed / final · source
-
Revenue
NGN 1.21 trillion
1,207,773,081 NGN thousands · p27
+26.0% vs 2024
-
Operating profit / (loss)
NGN 225 billion
225,382,678 NGN thousands · p27
+34.3% vs 2024
-
Profit / (loss) for the year
NGN 105 billion
104,966,001 NGN thousands · p27
Moved from loss to profit (FY2024: (164,595,022) NGN thousands)
-
Total assets
NGN 846 billion
846,159,936 NGN thousands · p29
−1.5% vs 2024
-
Total equity
NGN 12.9 billion
12,891,295 NGN thousands · p29
Change not shown.
-
Cash from operations
NGN 364 billion
363,502,367 NGN thousands · p31
+6104.5% vs 2024
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the prior-year figure is zero or negative.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, signed / final; reported for the year · source
- FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Revenue | 1,207,773,081 | 958,814,739 |
| Cost of sales | (771,881,648) | (652,459,896) |
| Gross profit | 435,891,433 | 306,354,843 |
| Other income | 1,152,207 | 737,107 |
| Marketing and distribution expenses | (161,694,691) | (106,851,671) |
| Administrative expenses | (49,811,090) | (32,529,512) |
| Impairment (loss) /write-back on financial assets | (155,181) | 165,495 |
| Results from operating activities | 225,382,678 | 167,876,262 |
| Finance income | 42,425,284 | 3,367,575 |
| Finance costs | (100,961,184) | (392,832,386) |
| Net finance costs1 | (58,535,900) | (389,464,811) |
| Profit /(loss) before income tax | 166,846,778 | (221,588,549) |
| Income tax (expense) /credit | (61,880,777) | 56,993,527 |
| Profit /(loss) for the year | 104,966,001 | (164,595,022) |
| Revaluation gain from property, plant and equipment net of tax2 | –3 | 150,037,365 |
| Other comprehensive income (unlabelled subtotal) | –4 | 150,037,365 |
| Total Comprehensive income /(loss) for the year is attributable to: Owners of the Company5 | 104,966,001 | (14,557,657) |
- Printed “-”, read as nil: subtotal_arithmetic: is.other_comprehensive_income.
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (3)
- “Net finance costs” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: finance income less finance costs.
- “Revaluation gain from property, plant and equipment net of tax” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 15(g)).
- “Total Comprehensive income /(loss) for the year is attributable to: Owners of the Company”: mapping to a shared definition is uncertain. Total comprehensive income is printed only as the amount attributable to owners of the company (no non-controlling interest).
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Property, plant and equipment | 494,615,499 | 421,154,868 |
| Right-of-use assets | 5,341,141 | 5,413,849 |
| Long term receivables1 | 3,877,991 | 3,353,739 |
| Deferred tax assets | 50,711,432 | 70,418,871 |
| Prepayments2 | –3 | 53,950 |
| Total non-current assets | 554,546,063 | 500,395,277 |
| Inventories | 179,871,278 | 174,784,339 |
| Right of return assets | 275,658 | 119,266 |
| Trade and other receivables | 22,248,810 | 11,297,682 |
| Prepayments4 | 53,795,766 | 149,460,240 |
| Cash and short-term deposits | 35,422,361 | 22,641,548 |
| Total current assets | 291,613,873 | 358,303,075 |
| Total assets | 846,159,936 | 858,698,352 |
| Share capital | 396,328 | 396,328 |
| Share premium | 32,262 | 32,262 |
| Revaluation reserves | 124,553,418 | 150,037,365 |
| Share based payment reserve5 | 687,588 | 472,377 |
| Accumulated loss | (112,778,301) | (243,228,249) |
| Total equity | 12,891,295 | (92,289,917) |
| Interest bearing loans and borrowings | 452,261,251 | 545,215,213 |
| Employee benefits6 | 5,629,154 | 4,346,185 |
| Deferred tax liabilities | –7 | –7 |
| Non-current liabilities (unlabelled subtotal) | 457,890,405 | 549,561,398 |
| Trade and other payables | 270,433,349 | 229,597,121 |
| Contract liabilities | 31,807,220 | 28,874,945 |
| Refund liabilities | 432,400 | 175,206 |
| Current tax liabilities | 47,307,659 | 32,340,383 |
| Lease liabilities8 | 86,894 | 32,717 |
| Interest bearing loans and borrowings | 23,781,227 | 108,486,328 |
| Bank overdraft | 164,709 | 158,075 |
| Provisions | 1,364,778 | 1,762,096 |
| Total current liabilities | 375,378,236 | 401,426,871 |
| Total liabilities | 833,268,641 | 950,988,269 |
| Total equity and liabilities | 846,159,936 | 858,698,352 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (6)
- “Long term receivables” is an issuer-specific line, not mapped to a shared definition: Note 17, non-current.
- “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 18, printed under non-current assets.
- “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 18, printed under current assets.
- “Share based payment reserve” is an issuer-specific line, not mapped to a shared definition: Note 22(a)(iii).
- “Employee benefits” is an issuer-specific line, not mapped to a shared definition: Note 24: long-term employee benefit obligations (non-current).
- “Lease liabilities” is an issuer-specific line, not mapped to a shared definition: Note 28, printed under current liabilities.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Operating cash flow before working-capital changes (unlabelled subtotal)1 | 279,841,438 | 134,910,576 |
| Cash generated from operating activities | 392,037,766 | 40,942,109 |
| Income tax paid | (26,793,879) | (34,009,856) |
| Other long term employee benefit paid2 | (1,041,402) | (651,723) |
| Share based payment recharge paid3 | (700,118) | (421,798) |
| Net cash from operating activities | 363,502,367 | 5,858,732 |
| Interest on securities and bank deposits | 2,334,043 | 3,367,575 |
| Proceeds from sale of property, plant and equipment | 131,445 | 62,689 |
| Acquisition of property, plant and equipment | (112,115,003) | (71,874,756) |
| Prepaid right-of-use assets4 | (428,969) | (715,770) |
| Net cash used in investing activities | (110,078,484) | (69,160,262) |
| Intercompany loan5 | –6 | 12,305,045 |
| Import Trade Finance Facilities(ITFF)7 | 133,780,071 | 73,849,546 |
| Inter-company principal8 | (61,817,400) | (32,971,600) |
| - bank loan9 | (128,978,127) | (111,041,589) |
| Payment of principal portion of lease liabilities | –6 | (122,609) |
| Payment of interest portion of lease liabilities | –6 | (56,471) |
| Finance cost paid10 | (178,388,409) | (25,621,811) |
| Dividends paid | (549,320) | (584,573) |
| Remittance of unclaimed dividend to registrars11 | (4,114,112) | –6 |
| Net cash used in financing activities | (240,067,297) | (84,244,062) |
| Net increase /(decrease) in cash and cash equivalents | 13,356,586 | (147,545,592) |
| Cash and cash equivalents at 1 January | 22,486,486 | 167,815,251 |
| Effect of exchange rate fluctuations on cash held | (582,254) | 2,216,827 |
| Cash and cash equivalents at 31 December | 35,260,818 | 22,486,486 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (10)
- “Operating cash flow before working-capital changes (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Printed unlabelled subtotal of profit before tax and adjustments.
- “Other long term employee benefit paid” is an issuer-specific line, not mapped to a shared definition: Operating (note 24).
- “Share based payment recharge paid” is an issuer-specific line, not mapped to a shared definition: Operating (note 22(iii)).
- “Prepaid right-of-use assets” is an issuer-specific line, not mapped to a shared definition: Investing (note 15b).
- “Intercompany loan” is an issuer-specific line, not mapped to a shared definition: Financing (note 23a).
- “Import Trade Finance Facilities(ITFF)” is an issuer-specific line, not mapped to a shared definition: Financing (note 23a).
- “Inter-company principal” is an issuer-specific line, not mapped to a shared definition: Financing (note 23).
- “- bank loan” is an issuer-specific line, not mapped to a shared definition: Financing (note 23).
- “Finance cost paid”: mapping to a shared definition is uncertain. Printed 'Finance cost paid' (note 23, loans and borrowings).
- “Remittance of unclaimed dividend to registrars” is an issuer-specific line, not mapped to a shared definition: Financing (note 22b).
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividends paid |
(549,320) | NGN thousands | Annual report, p31 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividends paid |
(584,573) | NGN thousands | Annual report, p31 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Nestlé Nigeria Plc Annual Report for the year ended 31 December 2025
Year ended 31 December 2025 · Annual report · signed / final
Audit: Ernst & Young, Lagos, unmodified opinion · signed
Auditor's sign-off: Babayomi Ajijola, for Ernst & Young
Final status: Independent auditor's report to the members of Nestlé Nigeria Plc (PDF pp22-26; opinion p22), unmodified, signed by hand above 'Babayomi Ajijola, FRC/2013/PRO/ICAN/004/00000001196, For: Ernst & Young, Lagos, Nigeria, 24 February 2026', with the ICAN seal (p26, page image). Statements 'approved by the Board of Directors on 23 February 2026' with handwritten signatures of Gbenga Oyebode (Chairman), Wassim Elhusseini (Managing Director) and Sylvester Umoru (Chief Accountant) (p29, page image).
- Document date
- 24 Feb 2026
- Auditor's report
- 24 Feb 2026
- Board approval
- 23 Feb 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- company statements · NGN thousands (printed “In thousands of naira”)
- Cash and cash equivalents in the cash-flow statement (35,260,818; 2024: 22,486,486, p31) are cash and short-term deposits before the expected-credit-loss allowance on treasury bills (3,166; 2024: 3,013) less the bank overdraft (note 21, PDF p68); the statement of financial position shows them net of that allowance. The three cash-flow/balance-sheet checks fail by 3,166 and 3,013 for this reason only; kept as printed.
- Key audit matter (p23): revenue recognition (cut-off). Total equity was negative at 31 December 2024 ((92,289,917)) and positive at 31 December 2025 (12,891,295) (p29); the auditor's report prints no material-uncertainty or emphasis-of-matter paragraph.
- Text-layer order: on pp28 and 31 several labels (OCI revaluation gain, total comprehensive income heading, acquisition of PPE, prepaid right-of-use assets, some adjustment labels) are printed after their amounts in the text layer; the rows are anchored on preceding text and compared with the page images. No hidden figure differing from the printed page was found.
- The revaluation reserve falls from 150,037,365 to 124,553,418 in 2025 while 2025 OCI is printed '-' (pp28-29); the movement is in the statement of changes in equity (p30), not transcribed.
- EPS printed in naira: basic 132.42 (2024: (207.65)); diluted printed identically (note 16, p27).
Technical details
- File
- 90 pages, with a text layer
- SHA-256
12b461dd83b22c2ea981cdd31e9c5c488554f6bfcabbbbc0cfbd5dd8e47f0bd1- Entity as printed
- Nestlé Nigeria Plc
- Exchange copy
- retrieved 2026-10-08T18:02:57Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.