Prime Business Africa
The paint industry saw a 23.35 percent increase in its revenue generation in 2025, earning N62.22 billion turnover between January and December last year, compared to the N50.44 billion generated in 2024.
The revenue is the combined turnover recorded by companies listed on the Nigerian Exchange (NGX), also known as the stock market, comprising Premier Paints, Chemical and Allied Product (CAP) Plc, Berger Paints, and Meyer Plc.
Join our WhatsApp ChannelAccording to Prime Business Africa’s analysis of the industry, with focus on the four aforementioned companies, they achieved N12.15 billion profit before tax (PAT) in 2025, surpassing the N7.65 billion
How Paint Manufacturers Performed By Revenue Growth
Meyer Plc
Meyer ended last year as the best performing paint producer among its peers after the company’s revenue increased by 35.49 percent during the period under review, rising to N4.23 billion, exceeding the N3.12 billion recorded in 2024.
- According to Prime Business Africa’s analysis, the company’s market share by revenue also increased, rising to 6.80 percent in 2025, compared to the 6.19 percent share Meyer accounted for the year before.
- It was gathered that Meyer spent N2.71 billion on production last year, up from the N2.08 billion reported as cost of sales in 2024, representing a 30.54 percent increase.
- During the period under review, Meyer achieved N737.10 million pretax profit, rising by 61.07 percent above the N457.60 million recorded in 2024.
CAP Plc
Chemical and Allied Products was the second best performing manufacturer in the paint industry with a 23 percent growth in revenue, which increased to N44.85 billion in 2025, surpassing the N36.36 billion earned the previous year.
- Also, CAP saw a marginal increase in its revenue market share, recording 72.08 percent between the first quarter (Q1) and the fourth quarter (Q4) of last year, slightly above the 72.07 percent share of 2024.
- CAP maintained it’s industry lead at a period production cost surged by 17.70 percent to N25.42 billion in 2025, against the N21.59 billion incurred in 2024.
- In addition, Chemical and Allied Products earned N9.12 billion as pretax profit last year, which overstrip the N6.06 billion posted in 2024, indicating a 51 percent growth.
Berger Paints
In 2025, Berger Paints’ revenue increased by 20 percent, making the paint manufacturer the third-best performing producer in the industry, as turnover soared to N12.99 billion, compared to the previous year’s N10.83 billion.
- However, the double-digit growth in turnover was not enough to raise Berger Paints’ market share by revenue, as it dropped to 20.87 percent last year, falling below the 21.47 percent recorded in 2024.
- To generate the revenue, Prime Business Africa gathered that Berger Paints spent N7.23 billion on production in 2025, rising from the N10.83 billion sustained in the year before.
- With cost of sales rising marginally by 3.57 percent, the company was able to pull a 102 percent growth in its profit before tax, which was N2.28 billion last year, compared to the N1.12 billion generated in 2024.
Premier Paints
Premier Paints occupied the fourth spot with 14.58 percent increase in revenue, which stood at N149.90 million in 2025, surpassing the N130.82 billion generated in 2024.
- Despite the increase in turnover, Premier Paints experienced a decline in its revenue market share, after recording 0.24 percent for the period between January and December 2025, below the 0.25 percent achieved in 2024.
- During the period under review, Premier Paints incurred N112.97 million as cost of sales to make it products available to the public, compared to the N102.73 million spent in 2024, reflecting a 9.95 percent jump.
- Additionally, the paint producer recorded profit before tax of N3.16 million between Q1 and Q4 last year, recovering from the N477 million pretax loss suffered in 2024.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
