Nigeria’s fast–moving consumer goods sector has once again shown its resilience, with the country’s biggest listed firms delivering strong growth of nearly 50% despite inflation, currency volatility, and declining consumer purchasing power.
These companies span across food, beverages, personal care, and household products, reflecting the diverse needs of Nigeria’s over 200 million people.
The top ten fastest-growing FMCG companies in Nigeria collectively generated N3.71 trillion in revenue in the first half of 2025, compared to N2.48 trillion in the same period last year.
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Their CEOs have managed not just to sustain demand but also to drive innovation and efficiency in an era where affordability and availability are critical. Their leadership has turned household names into revenue giants, making the sector one of the strongest contributors to Nigeria’s GDP.
This article examines the CEOs driving the performance of these companies, ranked according to their revenue growth.
For companies with differing financial year-ends, such as Guinness Nigeria (June year-end) and Honeywell Flour Mills (March year-end), the figures reflect their respective half-year periods—July to December 2024 for Guinness and April to September 2024 for Honeywell, corresponding to H1 2025 in their reporting cycles.
10. Thabo Mabe – CEO, Nascon Allied Industries PLC (N78.2 billion)
Thabo Mabe is the Managing Director and CEO of Nascon Allied Industries PLC, a role he has held since February 2022. Under his leadership, the company recorded N78.2 billion in revenue in H1 2025, representing a 55% increase from N50.4 billion in H1 2024.
He holds a Bachelor of Science Degree in Chemistry and Mathematics from Fort Hare University, South Africa. Thabo began his career at Unilever as a graduate trainee, gaining experience across Manufacturing, Production, Sales, and other key operational areas.
In 1999, he was appointed Works Director at the Personal Wash Factory in Mannheim, Germany, Unilever’s global facility supplying Dove soap worldwide.
Returning to South Africa, he became Manufacturing Director and later Vice President of Supply Chain for Unilever HPC. Following the consolidation of Unilever’s HPC and Foods divisions, he served as Vice President of Marketing for Spreads, Cooking, and Ice Cream, and later as Vice President, Homecare.
Thabo joined Unilever Nigeria in 2010 as a Board member and CEO, before moving to the Dangote Group in 2014 as MD/CEO of Dangote Flour Mills Plc, subsequently overseeing the group’s Rice business. He also served as a Non-Executive Director at Unilever Nigeria in 2014.
With extensive experience across South Africa, Germany, and Nigeria, Thabo Mabe combines operational expertise and strategic leadership to drive growth and profitability at Nascon Allied Industries PLC.
9. Dimitris Kostianis – CEO, PZ Cussons Nigeria PLC (N96.5 billion)
Dimitris Kostian is the Managing Director and Chief Executive Officer of PZ Cussons Nigeria PLC, a position he has held since June 1, 2023.
PZ Cussons Nigeria PLC, achieved N96.5 billion in revenue in H1 2025, up 42% from N68.1 billion in H1 2024
Kostianis brings over 25 years of experience within the PZ Cussons Group, having joined the company in 1995 in Business Development for Eastern Europe. His extensive career includes leadership roles across Africa and Asia, with deep experience in high-growth emerging markets and consumer goods sectors.
Prior to his current assignment, he served as Managing Director of PZ Cussons Asia from 2020 to 2023, and earlier held senior leadership positions in Africa, including oversight of the company’s sustainable growth in sub-Saharan Africa and management of joint ventures in West Africa.
Kostianis has longstanding knowledge of the Nigerian market, having held leadership roles in the country from 2005 to 2009 and again from 2015 to 2018. This experience has equipped him with a thorough understanding of local consumer behavior, routes-to-market strategies, and operational challenges in the region.
He holds a Master of Engineering in Management and Mechanical Engineering from the University of Birmingham and currently serves as a Board member of the British Chamber of Commerce in Indonesia, supporting trade and investment growth between Britain and Indonesia.
8. Tobi Adeniyi – MD, Unilever Nigeria PLC (N98.1 billion)
Tobi Adeniyi is the Managing Director of Unilever Nigeria PLC, a leading consumer goods company in Nigeria. He assumed the role on December 31, 2024, bringing over 15 years of progressive experience within Unilever and across global markets.
The company reported N98.1 billion in revenue in H1 2025, a 54% increase from N63.9 billion in H1 2024.
He holds a Bachelor of Science in Computer Engineering from Kwame Nkrumah University of Science and Technology, Kumasi, and is currently pursuing an Executive MBA at the University of Warwick, Warwick Business School.
Adeniyi began his career as a Unilever Future Leader in 2009, gaining exposure across multiple facets of supply chain management and commercial operations, including Logistics, Planning, Strategic Supply Chain, Procurement, and Sales. His assignments have taken him to diverse markets, including Singapore, the Philippines, and Indonesia, providing him with significant international experience and operational insight.
Before his appointment as CEO, Adeniyi served as National Sales Director, where he was responsible for Unilever Nigeria’s entire sales organization of over 1,000 employees and its distributor network.
Prior to this, he served as Customer Supply Chain Director for West Africa, strengthening supply chain efficiency and operational resilience across the region.
Adeniyi also holds leadership positions outside Unilever. He is the current Vice Chairman of the Manufacturers Association of Nigeria Export Promotion Group (MANEG) and a member of the Institute of Directors (IOD).
7. Nassib Raffoul – MD, Honeywell Flour Mill PLC (N179.6 billion)
Nassib Raffoul is the Managing Director of Honeywell Flour Mills PLC, a role he has held since May 2022.
The company’s revenue surged by 126% year–on–year, rising to N179.6 billion in H1 2025 from N79.4 billion in H1 2024 .
He has been with Flour Mills of Nigeria PLC in various capacities, including Chief Operating Officer of Agro-Allied from 2019 to April 2023, and General Manager and Director of Golden Sugar.
Raffoul brings extensive operational and executive experience in agro-processing and manufacturing, overseeing strategy, production, and business development.
Since April 2023, he has served as Managing Director of Honeywell Flour Mills at Flour Mills of Nigeria PLC. He also holds the position of General Manager at Glassforce Ltd.
Raffoul’s leadership combines operational excellence with strategic growth, positioning Honeywell Flour Mills PLC as a key player in Nigeria’s agro-allied industry.
6. Girish Sharma – CEO, Guinness Nigeria PLC (N259.6 billion)
Girish Sharma is the Managing Director and CEO of Guinness Nigeria PLC, a leading player in Nigeria’s alcoholic beverages sector and part of the global Diageo Group, known for iconic brands such as Guinness, Baileys, and Johnnie Walker.
The company posted N259.6 billion in revenue in H1 2025, up 82% from N142.6 billion in H1 2024.
Sharma assumed the role in October 2024, bringing over two decades of experience in consumer goods, manufacturing, and strategic business growth across multiple markets.
Before joining Guinness Nigeria, Sharma led Colgate Palmolive Tolaram as CEO from 2019 to 2024, where he successfully expanded Nigeria’s oral care and homecare portfolios. Under his leadership, distribution, market penetration, and market share grew by over 600% in just three years, solidifying Colgate’s position as one of West Africa’s top brands.
Sharma’s career also spans significant leadership roles in the Nigerian food sector. He served as Chief Operating Officer at Dufil Prima Foods Plc, overseeing brands such as Indomie, Minimie, and Power Oil. During his tenure, he enhanced profitability, launched multiple new products, and drove brand equity and market share growth.
Earlier, he held leadership positions with Tolaram Group in Nigeria and Ghana, where he focused on expanding distribution networks, increasing consumer reach, and executing aggressive sales and marketing campaigns.
5. Carlos Coutino – MD, International Breweries PLC (N340.9billion)
Carlos Coutino is the Managing Director of International Breweries Plc, the Nigerian subsidiary of Anheuser-Busch InBev (AB InBev), the world’s largest brewer with operations in over 150 countries and a portfolio of more than 500 beer brands, including Budweiser, Stella Artois, and Corona.
The company reported N340.9 billion in revenue in H1 2025, a 53% rise from N223.2 billion in H1 2024.
He was appointed in January 2023 after nearly five years of leading the company’s sales and commercial operations in Nigeria, where he successfully expanded the company’s volume and market share in Nigeria’s competitive beer market.
Mr. Coutiño, an Industrial Engineer with an MBA in Strategy, has spent over 18 years with AB InBev across three continents and seven countries, building a career in sales, trade marketing, and commercial strategy.
Coutiño joined AB InBev in 2004 as a global management trainee and has since built a career that spans three continents and seven countries. He has held senior roles in Guatemala, El Salvador, Nicaragua, Peru, and Mexico before moving to Nigeria in 2018. His early assignments in West Africa included leading the High-End and Modern Trade business, after which he rose to become National Sales and Trade Marketing Director.
His education covers a background in Industrial Engineering and an MBA in Strategy. Coutiño now oversees the growth strategy of International Breweries Plc, focusing on scaling market share, strengthening premium offerings, and building sustainable revenue growth in a highly price-sensitive market.
4. Ravindra Singhvi – CEO, Dangote Sugar Refinery PLC (N430.2 billion)
Ravindra Singhvi is the Group Managing Director/CEO of Dangote Sugar Refinery Plc. He has led the company since 2018, bringing over four decades of leadership across manufacturing and related industries in India.
Under his stewardship, the company has remained one of the biggest players in Nigeria’s FMCG sector, posting N430.2 billion in revenue for H1 2025, marking a 46% increase from N295.6 billion in H1 2024.
Singhvi is a Chartered Accountant with a degree in commerce from the University of Jodhpur.
Over the years, he has held senior appointments across India’s manufacturing sector, ranging from Chief Financial Officer to Executive Director and eventually Managing Director, where he built a reputation for turning struggling businesses into profitable enterprises.
Before joining Dangote Sugar, Singhvi served as Managing Director of EID Parry in Chennai, one of India’s largest and oldest listed sugar companies, and later as CEO of NSL Sugars in Hyderabad.
At EID Parry, he guided the company to win the Confederation of Indian Industry’s Corporate Governance award, while also negotiating a landmark 2,500MW Power Purchase Agreement on behalf of Karnataka’s sugar industry.
3. Wassim Elhusseini – CEO, Nestlé Nigeria PLC (N581.1 billion)
Wassim Elhusseini is the Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, a role he has held since September 2020.
Under his leadership, the company generated N581.1 billion in revenue in the first half of 2025, a 43% rise from N406.9 billion in the same period of 2024. His stewardship has reinforced Nestlé’s position as one of Nigeria’s most influential FMCG companies
Elhusseini has been with Nestlé for more than two decades, joining the company in 2002 as Channel Category Sales Development (CCSD) Manager for Coffee & Creamers in Kuwait.
His career quickly gained momentum when, in 2015, he was appointed to lead the CCSD unit at Nestlé Middle East. A year later, he became Sales Director of Nestlé Middle East, where his strategic input helped establish the Nestlé Middle East and North Africa (MENA) region, spanning 16 countries. By 2020, he was appointed Country Manager and Sales Director for MENA, a position that tested his ability to manage scale and complexity before taking up the top role at Nestlé Nigeria.
Before joining Nestlé, Elhusseini honed his skills in sales and operations outside the FMCG giant. He worked with Transmed as a Sales Account Executive between 1997 and 2001, building his commercial acumen in a highly competitive distribution market.
Earlier in his career, he served as an underwriter with Arabia Insurance Company, a role that sharpened his analytical and risk management capabilities. These early experiences gave him a solid foundation before embarking on his long career at Nestlé.
Academically, Elhusseini studied Public Administration at the American University of Beirut. He has further enriched his leadership profile through executive programs at globally renowned institutions, including London Business School, the University of Cambridge, Harvard University, and The Wharton School of the University of Pennsylvania.
2. Thibaut Boidin – CEO, Nigerian Breweries PLC (N738.1 billion)
Thibaut Boidin is the Managing Director and Chief Executive Officer of Nigerian Breweries Plc, the country’s oldest and largest brewing company, which reported revenues of N738.1 billion in the first half of 2025, a 54% jump from N479.7 billion in the same period of 2024.
He was appointed in July 2025. Before his Nigerian assignment, Boidin served as Managing Director of HEINEKEN Romania, one of the group’s largest operations in Eastern Europe, where he oversaw nearly two years of steady market growth.
His career within HEINEKEN spans strategic transformation roles across Europe, including Chief Transformation Officer for HEINEKEN Europe and earlier as Deputy General Manager and Chief Transformation Officer of HEINEKEN France. His first role in the group was as Deputy CEO of France Boissons, a subsidiary handling a billion-euro turnover across 73 sites in France.
Boidin’s corporate background extends beyond brewing. At ELIS, a major French multi-service company, he rose to General Manager. His leadership journey also includes roles as Area Business Unit Manager at ELIS, Business Unit Manager at Veolia and earlier as a consultant with HeadMind Partners in Paris.
1. Ayodele Musibau Abioye – CEO, BUA Foods PLC (N912.5 billion)
Ayodele Abioye is the Managing Director of BUA Foods Plc, Nigeria’s most capitalised food manufacturing company, which reported N912.5 billion in revenue for the first half of 2025, a 36% increase from N672.3 billion in the same period of 2024.
With more than three decades of experience in business leadership, engineering, and manufacturing, Abioye has established himself as one of the most influential executives in Nigeria’s fast-moving consumer goods (FMCG) industry.
He joined BUA Group in 2021 as Chief Operating Officer to oversee its diverse food businesses, and within the same year, he was appointed Managing Director of BUA Foods. Under his leadership, the company has consolidated its dominance in Nigeria’s food sector, grown into one of Africa’s most valuable listed entities on the Nigerian Exchange (NGX), and expanded its footprint in critical value chains such as sugar, flour, pasta, rice, and edible oils.
Abioye’s career path is marked by a blend of technical expertise and executive leadership across global and local companies. He was the first Nigerian General Manager at Seven-Up Bottling Company’s Ikeja region, a Country Technical Director at Coca-Cola Nigeria, and Regional Supply Chain Director at Nigerian Bottling Company.
His experience also spans roles at Frigoglass Ltd, Dansa Foods, and SecureID Ltd, where he served as Chief Operating Officer.
Academically, he holds a Bachelor’s degree in Mechanical Engineering from the University of Ilorin, alongside a Master’s in Engineering Management and a PhD in Manufacturing Engineering from the University of Benin. His professional development includes training in the United States, Europe, and South Africa.
