Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Nestle Nigeria Climbs to 10-Year High on Growth Expectations

Nestle Foods Nigeria Plc, the West African nation’s largest food company by market value, jumped to its highest level in more than 10 years on investors’ expectations the company’s products are in strong demand.

The stock increased by the maximum daily limit of 5 percent to 463.61 naira at the close in Lagos, the commercial capital, the most since January 2002. It is up 4 percent this year, compared with a 1.7 percent rise in the Nigerian Stock Exchange All-Share Index, according to data compiled by Bloomberg.

“Nestle has delivered strong returns, has a good corporate governance and a strong growth in demand over the next five years,” Akinbamidele Akintola, a research analyst with Lagos-based Renaissance Capital, said by phone today.

More than 1 million shares, or six times the three-month average, traded today. Nestle Foods, a unit of Nestle SA, the world’s biggest food company, said last year it plans to double business in Africa’s most populous country of more than 167 million people within three years. Nigeria is Nestle’s second-biggest market in the continent after South Africa.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.