The Nigerian consumer goods sector is facing challenges as key stocks in beverages, food products, and household durables experience price decline, resulting in a drop in market capitalisation.

In the beverages sector, Golden Guinea Breweries recorded no market cap and a stagnant price of N8.64, while Guinness Nigeria Plc’s price dropped by 35 per cent to N70.00 with a trading volume of 165,339 shares.

International Breweries saw a 23 per cent drop in its price, settling at N5.40, while Nigerian Breweries experienced a sharp decline of 69 per cent, with its price dropping to N31.90. Collectively, the sector saw a total trade volume of 713,283 shares.

In the food products sector, BUA Foods Plc maintained its price at N415.00, while Dangote Sugar Refinery’s price decreased by 230 per cent to N38.50. Honeywell Flour Mill’s price fell by 8.59 per cent to N9.05, while Multi-Trex Integrated Foods saw no trades. Nascon Allied Industries Plc gained 3.59 per cent, with its price climbing to N39.00. The sector recorded a trading volume of 9.5 million shares.

In the diversified food products sector, Cadbury Nigeria Plc’s price decreased by 70 per cent to N22.80, while Nestle Nigeria Plc also saw a decline of 76 per cent to N875.00. This sector posted a market cap of N146 m and a total trade volume of 302,943 shares.

The PUNCH reported that Nigeria’s beverage and food sectors have collectively achieved a total market capitalisation of N10.84tn, according to end-of-Wednesday trading data on the Nigerian Exchange Limited.