Prime Business Africa
The Nigerian paints industry recorded N14.29 billion in revenue in the third quarter (Q3) of 2025, surpassing the N11.41 billion generated in the corresponding period in 2024, indicating a 25.27 percent growth.
The revenue reported is based on the turnover recorded by the three companies listed on the Nigerian Exchange (NGX): Chemical & Allied Products (CAP), Berger Paints and Meyer Paints.
Join our WhatsApp ChannelAccording to Prime Business Africa’s analysis, CAP accounts for 71.21 percent share of the industry revenue, Berger Paints holds 22.08 percent, and Meyer Paints accounts for 6.70 percent at the end of the quarter under review.
Best-Performing Paints Company In Nigeria
CAP
CAP closed the third quarter as the best-performing paint manufacturer after its revenue climbed 27 percent to N 10,18 billion, compared to the N8.03 billion generated between July and September of last year.
- In addition, the company earned the turnover after expending N 5,83 billion on production costs within the three months under review, compared to the N 4,57 billion cost of sales gulped in Q3 of 2024, indicating a 27.53 percent increase.
- Also, CAP said profit before tax (PBT) was N1.71 billion in the third quarter of this year, surpassing the N1.26 billion reported in the same period last year, representing a growth of 36 percent.
Meyer Paints
Meyer Paints generated N958,24 million revenue in the third quarter of 2025, exceeding the N754,53 billion turnover recorded between July and September 2024.
- The 26.99 percent increase in Meyer’s revenue was enough to make the company the second-best-performing manufacturer in the paint industry.
- Also, the company announced that production cost gulped N622.19 million within Q3 2025, representing a 39.87 percent increase, when compared to the cost of sales of N444.80 million incurred in the same period last year.
- With production cost rising faster than revenue, Meyer Paints suffered a 30.53 percent decline in its profit before tax (PBT), as it fell to N135.04 million between July and September 2025, below the N194.39 million earned in the previous year.
Berger Paints
Berger Paints was the third-best-performing manufacturer in the industry this year, following a 20.51 percent growth in its revenue, which was N3.15 billion between July and September 2025, overshadowing the N2.61 billion achieved in Q3 2024.
- Furthermore, Berger Paints incurred N1.75 billion as costs of sales during the period under review, compared to the N1.65 billion expended on production in the third quarter of 2024, reflecting a 6.22 percent increase.
- The single-digit growth in production costs contributed to the 137.74 percent growth recorded in the profit before tax by Berger Paints, as pretax profit surged to N518.63 million in the third quarter of this year, exceeding the N218.15 million posted in last year’s Q3.
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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.
