Nigerians Spend ₦1.54tn on Beer, Other Beverages in Nine Months

Nigerians spent an estimated ₦1.54 trillion on beer and other beverages within nine months, as leading brewing companies listed on the Nigerian Exchange recorded strong sales despite prevailing economic pressures.

An analysis of the unaudited financial statements of Nigerian Breweries Plc, International Breweries Plc and Champion Breweries Plc for the nine months ended September 30, 2025, shows that beer consumption remained robust, driving a significant rebound in revenue and profitability across the sector.

Nigerian Breweries Plc, the country’s largest brewer, dominated the market with a net revenue of ₦1.05 trillion, representing a sharp increase from ₦710.87 billion recorded in the corresponding period of 2024. The company returned to profitability after a difficult previous year, posting a profit after tax of ₦85.51 billion, compared with a ₦149.50 billion loss in the prior period. Earnings per share also rebounded strongly.

The brewer had earlier hinted at a turnaround in March 2025, announcing a 186 per cent jump in net profit in the first quarter of the year. Revenue for the quarter rose by nearly 69 per cent to ₦383.6 billion, reflecting improved sales volumes and pricing adjustments.

International Breweries Plc also recorded a strong recovery, posting revenue of ₦472.57 billion for the nine-month period, up from ₦343.45 billion in 2024. The company closed the period with a profit after tax of ₦57.83 billion, reversing a ₦112.81 billion loss recorded in the previous year. Higher sales volumes and improved margins helped offset rising production and operating costs.

Earlier in the year, International Breweries had reported a return to profitability in the second quarter, posting ₦11.9 billion in earnings after tax, supported by quarterly revenue growth to ₦167.4 billion.

Though smaller in scale, Champion Breweries Plc also posted notable growth. The company’s revenue rose to ₦21.44 billion from ₦14.02 billion, while profit after tax surged to ₦2.05 billion, compared with just ₦21.5 million recorded in the same period of the previous year.