Nigerians spent the equivalent of more than $1bn on beer and other brewery products in the first nine months of 2025, highlighting the resilience of the country’s alcohol market despite inflation and currency pressures.
An analysis of unaudited financial results from Nigerian Breweries Plc, International Breweries Plc and Champion Breweries Plc shows that the listed brewers generated a combined ₦1.54tn in revenue between January and September 2025. At current exchange rates, this translates to roughly $1.04bn, driven largely by beer sales.
Nigerian Breweries Plc, the country’s largest brewer, accounted for the bulk of the revenue. The company recorded ₦1.05tn in net revenue, up sharply from ₦710.87bn in the same period of 2024. Despite higher input costs, cost of sales stood at ₦631.23bn, leaving a strong gross profit of ₦415.15bn.
Earlier in the year, Nigerian Breweries signalled a return to profitability, posting a 186 per cent jump in net profit in the first quarter of 2025. Revenue for the three months ended March 31 rose nearly 69 per cent to ₦383.6bn, compared with ₦227.1bn a year earlier.
International Breweries Plc also delivered solid growth, posting ₦472.57bn in revenue for the nine-month period, up from ₦343.45bn in 2024. The brewer returned to profitability, reporting a profit after tax of ₦57.83bn, reversing a loss recorded in the prior year, even as operating costs climbed amid inflationary pressures.
Meanwhile, Champion Breweries Plc recorded revenue of ₦21.44bn, up from ₦14.02bn in the previous year. Its profit after tax surged to ₦2.05bn, compared with just ₦21.5m a year earlier, reflecting improved operational efficiency.
Industry analysts say the figures underline the enduring strength of Nigeria’s beer market, supported by strong brand loyalty and extensive distribution networks. However, they warn that rising production costs, foreign exchange volatility and inflation remain key risks.
The results come as investors and policymakers closely watch Nigeria’s economic outlook, with consumer spending and currency stability expected to shape the sector’s performance in the months ahead, Punch reported.
