Lagos, Nigeria – August 11, 2025
Several of Nigeria’s leading manufacturing companies have reported significant increases in their cost of sales for the first half of 2025, driven by persistent inflation, foreign exchange volatility, and elevated logistics and energy expenses.
Unaudited financial statements filed with the Nigerian Exchange Limited show notable cost escalations across key players in the cement, food and beverage, and consumer goods sectors.
Dangote Cement Plc reported manufacturing costs of ₦853.6 billion in H1 2025, a marginal year-on-year rise, alongside strong revenue growth.
BUA Foods Plc posted a cost of sales of ₦573.18 billion, up 26 percent from ₦453.95 billion in H1 2024.
Nestlé Nigeria Plc recorded cost of sales of ₦181.0 billion for the six months ending June 30, 2025, as it returned to profitability.
Industry analysts link the rising costs to higher raw material prices, increased fuel and energy charges, and supply chain disruptions.
A claim that the combined cost of sales for 12 major manufacturers grew from ₦2.18 trillion in H1 2024 to ₦2.6 trillion in H1 2025 – representing a 19.68 percent increase – could not be independently verified, as the detailed aggregation and methodology were not published. However, available company filings confirm an upward trend in production costs across the sector.
