Nigeria’s Foreign Multinationals In 2025: Boom, Burst or Bye Bye

Foreign-owned companies in Nigeria are facing significant challenges as debt and FX losses continue to squeeze margins. FMCGs like Nestlé Nigeria are grappling with skyrocketing costs, with pre-tax losses surging by 381% YoY despite growing revenues. Guinness Nigeria, now under Tolaram Group’s ownership, is navigating a new era, while telecom giants such as MTN and Airtel work to mitigate FX exposure and consumer pressure.