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African Financials


Brands We Love: McNichols Plc


Nigeria is home to the largest market for Fast Moving Consumer Goods (FMCG) in Africa.

A report published by KPMG in 2016 valued Nigerian households’ expenditure on FMCG at over $41 billion, much larger than those of any other country on the continent. Nigeria’s huge (and growing) population is largely responsible for this. Demand for these products is expanding all the time.

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One of the companies trying to meet this increasing demand is McNichols. It’s a food and beverage brand based in Ogun State, with a range of offerings in the baking materials and beverages categories.

McNichols was incorporated in 2004 and commenced operations the following year. It’s continually strengthened its position in its target market, by broadening its distribution networks and maintaining a combination of consumer products that are wanted across the country.

Among McNichols’ many products is its Family Choco drink, a chocolate beverage with ingredients including full cream milk powder, cocoa powder, and sugar. It’s available in 500g sachets and packets.

The company also makes custards. Three brands are available: the vanilla-flavoured Family Custard; Family Milk Custard; and Family Choco Custard. These are sold in 500g and 2kg packs.

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McNichols’ broadest product range is its sugar category, encompassing both brown and white sugar products. They include the Family Granulated Sugar, Family Cube Sugar, Choice Baking Sugar, Choice Icing Sugar, and Choice Special Sugar.

From its manufacturing facility in Arepo, Ogun State, McNichols gets its products to markets in neighbouring districts, including major population centres in Lagos. Some of these items can also be purchased on some of Nigeria’s online major stores.

The company’s shares are traded at the Nigerian Stock Exchange (NSE).

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Ikenna Nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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