The top 10 consumer goods companies recorded a total cash and cash equivalents balance of N616.1 billion in 2025, reflecting the amount of cash held in bank accounts and forming a key part of current assets.

This represents a 29.8% increase from N474.7 billion in the prior year, translating to a N141.3 billion gain and reflecting stronger liquidity positions across the sector.

As liquidity improved, financing pressures eased significantly, with net finance costs declining to N395.3 billion from N1.17 trillion in 2024, while combined pretax profit swung to N1 trillion from a loss of N271.6 billion.

Cash in the bank refers to funds readily accessible by a company, whether held in bank accounts or short-term deposits, serving as a key indicator of financial flexibility.

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In corporate reporting, this is captured under “cash and cash equivalents” on the balance sheet, covering both physical cash and near-cash investments convertible within a short period.

In this report, we highlight the top 10 consumer goods companies with the highest cash balances in their 2025 financial year, regardless of reporting month, offering insight into liquidity strength and balance sheet resilience across the sector.

Cadbury Nigeria Plc (N15.01 billion)  

Cadbury Nigeria ranks 10th on the list with cash and cash equivalents of N15.01 billion in 2025, slightly lower than N16.33 billion recorded in the previous year.

  • This cash position accounted for 32.52% of current assets, which stood at N46.1 billion, while total assets increased slightly to N75.3 billion from N72.4 billion.

The company also held inventory of N17.3 billion, up 25.70% year-on-year, reflecting stronger stock levels alongside its cash in the bank position.

  • Its quick ratio improved to 0.47 from 0.38, indicating better short-term liquidity and a stronger ability to meet obligations without relying on inventory sales.

Performance was also stronger operationally, with operating income rising to N19.5 billion and pretax profit rebounding to N17.3 billion from a loss of N28.3 billion, while net cash generated from operating activities stood at N11.5 billion

Nestle Nigeria Plc (N35.4 billion)  

Nestle Nigeria ranks 9th with cash and cash equivalents of N35.4 billion in 2025, up from N22.6 billion the previous year.

  • This level of “cash in the bank” represented 12.15% of current assets, which stood at N291.6 billion, even as total assets dipped slightly to N846.1 billion from N858.6 billion.
  • Inventory increased modestly to N179.8 billion from N174.7 billion, and when viewed alongside cash holdings, it resulted in a lower quick ratio of 0.30 compared to 0.46 a year earlier.

Operating performance improved sharply, with operating income rising 34.26% to N225.3 billion and pretax profit rebounding to N166.8 billion from a loss of N221.5 billion.

Net cash from operating activities rose strongly to N363.5 billion, a dramatic jump from N5.8 billion in the previous year, indicating much healthier cash generation.

PZ Cussons Nigeria (N40.65 billion)

PZ Cussons Nigeria ranks 8th with cash and cash equivalents of N40.65 billion, up from N28.86 billion in the prior year, according to its FY2025 audited results.

Cash in the bank accounted for 34.33% of current assets, which stood at N118.4 billion, while total assets rose to N168.9 billion from N157.05 billion previously.

  • Inventory increased to N53.4 billion from N40.8 billion, and together with its cash position, this resulted in a quick ratio of 0.35 compared to 0.36 a year earlier.

The group returned to profitability, with operating income rebounding to N18.9 billion from a loss of N124.4 billion, while pretax profit improved to N16.6 billion from a loss of N122.4 billion.

Retained losses eased to N38.7 billion from about N48 billion, while net cash generated from operations strengthened significantly to N40.6 billion, reversing an outflow of N108 billion in the prior year.

Nascon Allied Industries (N41.63 billion)

Nascon Allied Industries holds the 7th position with cash and cash equivalents of N41.63 billion in 2025, rising sharply from N24.70 billion in the previous year, according to its audited financial books.

This cash position accounted for 42.36% of current assets, which stood at N98.2 billion, while total assets expanded significantly to N135.2 billion from N78.5 billion in the prior year.

  • Inventory also grew to N40 billion from N18.2 billion, which, combined with cash holdings, resulted in a quick ratio of 1.47 in 2025, slightly lower than 1.68 but still comfortably above the 1.00 benchmark.

Operationally, performance improved with operating profit rising to N42.8 billion from N23.03 billion, while finance income boosted pretax profit to N48.2 billion, feeding into retained earnings growth of 68.15% to N69.3 billion.

Cash flow performance followed the same trend, with ‘net cash generated from operating activities’ increasing to N43.9 billion from N4.1 billion in the prior year.

Champion Breweries (N47.34 billion)

Champion Breweries ranks 6th with cash and cash equivalents of N47.34 billion in 2025, a steep rise from N4.3 billion in the previous year, according to its audited results for the period ended 31 December 2025.

Cash in the bank dominated the balance sheet, accounting for about 90% of current assets of N52.5 billion and emerging as the largest component of total assets, which rose to N82.3 billion from N21.3 billion.

  • Inventory increased modestly to N4.1 billion from N2.8 billion, helping push the quick ratio to 1.24, a sharp improvement from 0.48 and signalling stronger short-term liquidity.

Operational performance improved as operating profit doubled to N4.8 billion from N2.3 billion, pretax profit settled at N2.6 billion, while retained earnings rose to N5.1 billion from N3.8 billion.

Net cash flow from operating activities strengthened to N8.4 billion, up from N5.18 billion in the prior year, showing improved cash generation capacity.

Dangote Sugar (N52.58 billion)

Dangote Sugar takes the 5th spot with cash and cash equivalents of N52.58 billion in 2025, marking a sharp drop from N108.16 billion recorded in the previous year, based on its audited financial books.

  • Cash in the bank represented 15.3% of current assets, which stood at N343.3 billion, while total assets declined to N965.9 billion from N1.05 trillion a year earlier.

Inventory came in at N157.5 billion, and when assessed alongside cash, the quick ratio stood at 0.23 in 2025, compared with 0.31 in the prior year.

However, the operating environment showed recovery, with operating profit surging to N96.1 billion from N12.6 billion, signalling stronger core earnings.

Notwithstanding this, the company still posted a loss after tax of N72.2 billion, although this represents a major improvement from N270.8 billion, while net cash from operating activities swung to an inflow of N13.6 billion from an outflow of N376.4 billion.

BUA Foods (N56.36 billion)  

BUA Foods ranks 4th with cash and cash equivalents of N56.36 billion in 2025, up from N31.31 billion in the previous year, according to its audited financial statement for the period.

Cash in the bank made up 5.67% of current assets of N993.3 billion, while total assets stood at N1.38 trillion, up from N1.09 trillion previously.

Inventory rose to N81.3 billion, and when combined with cash levels, it pushed the quick ratio to 1.35, above the 1.00-threshold.

Operational performance remained strong, with operating profit rising to N656.6 billion from N472.1 billion, reflecting continued earnings growth.

Pretax profit rose to N521.5 billion from N284.3 billion, reflecting stronger bottom-line performance, while net operating cash flow stood at N406.1 billion, down from N544.3 billion.

Nigerian Breweries (N61.13 billion) 

Nigerian Breweries sits in 3rd place with cash and cash equivalents of N61.1 billion in 2025, edging up from N60.9 billion in the prior year.

Cash in the bank represented 18.10% of current assets of N337.7 billion, while total assets inched higher to N1.06 trillion from N1.05 trillion.

Inventory was N193.7 billion, and when set against cash holdings, the quick ratio eased to 0.29 from 0.38 a year earlier.

The company delivered a strong turnaround, with operating profit jumping to N205.1 billion from N69.8 billion, reflecting improved core performance.

It also swung from loss to profit at the bottom line, with pretax profit rising to N161.06 billion from a loss of N182.9 billion, while net cash from operating activities strengthened sharply to N228.1 billion from N52.04 billion, indicating a stronger cash position.

Unilever Nigeria (N110.75 billion)

Unilever Nigeria holds the 2nd position with cash and cash equivalents of N110.75 billion in 2025, a strong increase from N68.4 billion in the prior year.

This cash position dominated the balance sheet, representing 72.46% of current assets of N152.8 billion, while total assets expanded to N180.1 billion from N141.6 billion.

Inventory came in at N23.1 billion, and when combined with cash holdings, it significantly strengthened liquidity, pushing the quick ratio to 1.90 from 1.68 a year earlier.

On the earnings side, performance improved meaningfully, with operating profit rising to N42.2 billion from N18.3 billion, reflecting stronger underlying operations.

This momentum carried through to the bottom line, with pretax profit rising to N51.7 billion from a loss of N22.6 billion, while net operating cash inflow improved to N45.8 billion from N14.9 billion.

International Breweries (N155.24 billion)  

International Breweries leads the ranking with cash and cash equivalents of N155.24 billion in 2025, up from N109.03 billion in the previous year.

Almost half of the company’s liquidity sat in cash, with N155.2 billion representing 49.39% of current assets of N314.3 billion, while total assets edged up to N739.7 billion from N727.8 billion.

Inventory came in at N97.7 billion, and together with cash holdings, it nudged the quick ratio to 1.11, above the 1.00-threshold.

The year marked a sharp operational reversal, as the company posted an operating profit of N82.8 billion compared to a loss of N91.07 billion previously.

That recovery extended to profitability, with pretax profit rising to N88.9 billion from a loss of N111.8 billion, while cash flow remained strong with a net inflow of N139.3 billion generated from operating activities.