The directors present their annual report on the affairs of Nestlé Nigeria Plc (“the Company”) for the year ended 31 December 2023.
Principal Activities
The principal activities of the Company continue to be the manufacturing, marketing and distribution of food products including purified water throughout the country. The Company also exports some of its products to other countries within and outside Africa
Growth: The company’s revenue grew by 22.45% to N547 billion from N446 billion reported in 2022. Nestlé Nigeria Plc posted a pre-tax loss of 246% in comparison with N71 billion posted in FY 2022 and a post-tax loss of 262%

Dividend
No interim or final dividend was declared for the 2023 financial year (2022: Interim N25.00, final N36.50K)