Fast-moving consumer goods firms are grappling with rising finance costs as they ride on interest rate hikes.
The Central Bank’s interest rate hikes in combatting inflation have led to fast-moving consumer goods firms being hit by huge finance costs which grew 56 percent in 2024.
Champion Breweries recorded the highest finance cost growth of 529.4 percent, Guinness Nigeria recorded 197.5 percent, Nestle Nigeria at 68.22 percent growth, Dangote Sugar Refinery at 49.4 percent growth, and BUA Foods recorded 14.9 percent growth.