Prime Business Africa
Fast-moving consumer goods (FCMG) companies did not have a good year in the foreign market in 2025, as Unilever Nigeria and Cadbury Nigeria could not improve on the sales of goods exported following a decline in export revenue, leaving both companies to depend on local consumers to sustain turnover growth.
Prime Business Africa’s analysis showed that export sales for Unilever Nigeria dropped by 34.17 percent and that of Cadbury plunged by 20.92 percent, while the market rivals recorded a surge in their local sales, which improved by 45.63 percent for the former and 38.27 percent for the latter.
Join our WhatsApp ChannelA breakdown of their financial performance showed that Unilver’s total revenue increased from N149.52 billion in 2024 to N149.52 billion last year, representing a 43.56 percent growth.
It was gathered from Unilever’s unaudited interim financial statements for the year ended December 31, 2025, that local sales contributed N212.12 billion to the revenue in 2025, compared to the N145.65 billion accounted for the year before.
However, the contribution of foreign sales dropped to N2.54 billion last year, as the company failed to replicate the N3.86 billion reached in 2024.
Analysis of local and export sales contribution to the total revenue showed that the former’s share in general turnover increased from 97.41 percent in 2024 to 98.81 in 2025, while that of the latter dropped from 2.58 percent to 1.18 percent.
During the period under review, Unilever had expended N125.04 billion on production, which is a 32.49 percent increase when compared to the N94.37 billion incurred in 2024.
With local sales throwing the company a lifeline amid a decline in export sales, Unilever’s profit before tax (PBT) climbed to N51.80 billion last year, from the N22.64 billion recorded in 2024, reflecting a 128.70 percent increase.
Unilever was not explicit on the reason export sales dropped.
In addition, Cadbury’s total revenue increased by 31 percent to N169,83 billion in 2025, exceeding the N129.16 billion generated between January and December of the year before.
Breakdown of the general turnover showed that Cadbury generated N158.12 billion from local sales during the period under review, surpassing the N114.35 billion reached in 2024.
Conversely, the company saw a decline in foreign sales, which was N11.71 billion in 2025, falling short of the N14.81 billion notched up in 2024.
The export sales declined due to a 23.28 percent decline in intermediate cocoa products turnover, which decreased from N14,27 billion in 2024 to N10,94 billion last year.
Following the decline in export sales, the segment’s revenue share dropped from 11.46 percent to 6.89 percent, however, that of local sales increased from 88.53 percent to 93.10 percent, according to analysis.
Prime Business Africa gathered from the company’s unaudited financial information for the year ended December 31, 2025, that it cost Cadbury N133.23 billion to make its product available, compared to the N110.93 billion expended on production in 2024.
This had little or no impact on the company’s bottom line, as Cadbury was able to exit the N28.32 billion pre-tax loss recorded in 2024 after it earned N17.26 billion PBT in 2025.
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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.
