Afrinvest has released a report on some non-financial sector companies in Nigeria. You can read it here:
Afrinvest Report on The Nigerian Non-Financials Sector (2008) - Pt.1 (398)
Afrinvest Report on The Nigerian Non-Financials Sector (2008) - Pt. 2 (1545)

They also prepared reports on the banking and insurance sectors earlier in the year. You can also read those here:
Afrinvest 2008 Nigerian Banking Sector Report (453)
Afrinvest 2008 Nigerian Insurance Sector Report (381)
Some of the main points in their non-financial sector reports are:
Historically, the industial corporations used to be the main stay of the Nigerian economy.
Factors for the reduced emphasis of the non-financial secotr:

1. The emergence of banks on the public equities scene and the rapid growth in thier earnings and valuations has made the banks the dominant factors in the NSE.
2. The Nigerian economy has become more transactional rather than productive.
3. The financial services sector has been quicker to the see the benefits of the macroeconomic policies of the government.
4. Industrial corporations have not been active in issuing new shares creating a general lack of trading liquidity in their stocks relative to banks.

Reasons for the slow growth of the non-financial services sector:

1. The crippling effect of the epileptic power system resulting in increased costs of doing business.
2. The global food crisis.
3. Higher interest rates.

Opportunities:

1. Relative political stability
2. Increased consumerism

The companies covered are:

1. Building and Construction Sector:
2. Ashaka Cement Plc
3. Benue Cement Company Plc
4. Cement Company of Northern Nigeria Plc
5. Lafarge Cement Wapco Plc
6. Julius Berger Plc

Consumer Goods Sector:

1. 7-UP Bottling Company Plc
2. Dangote Sugar Refinery Plc
3. Flour Mills of Nigeria Plc
4. Guinness Nigeria Plc
5. Nestle Nigeria Plc
6. Nigeria Bottling Company Plc
7. Nigerian Breweries Plc
8. P Z Cussons Nigeria Plc
9. U A C of Nigeria Plc
10. Unilever Nigeria Plc

Healthcare Sector:

1. Glaxo Smithkline Plc
2. May & Baker Plc
3. Nigerian-German Chemicals Plc

Chemical and Paints Sector:

1. Berger Paints Plc
2. CAP Plc

Petroleum Marketing Sector:

1. African Petroleum Plc
2. Chevron Oil Plc4
3. Conoil Plc
4. Mobil Oil Nigeria Plc
5. Oando Plc
6. Total Nigeria Plc

Others:

1. Japaul Oil & Maritime Services Plc
2. R T Briscoe (Nigeria) Plc
3. Starcomms Plc
4. Vitafoam Plc