Nigerian Giants Pay Record Taxes | Nigeria News

Nigeria’s top consumer goods firms paid over 190 billion naira in taxes this year—up 53% from last year—outpacing profit growth and revealing a heavier tax burden. New tax laws enacted in early 2026 hit companies unevenly: International Breweries saw its tax rate spike by nearly 16 points, squeezing net income, while Champion Breweries and Dangote Sugar Refinery benefited, with Champion even earning a tax credit. Nestlé and Nigerian Breweries also faced steep tax hikes, while Cadbury held steady, showing profit drops were driven by other factors. The data underscores how tax policy reshapes corporate earnings—and not all businesses are equally equipped to handle the change. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/0ffe56633b134557