Hussaini Umar
Nigerians spent an estimated ₦1.54 trillion on beer and other beverages within nine months, as major brewers listed on the Nigerian Exchange recorded strong sales across the period.
An analysis by PUNCH 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 the companies collectively posted robust revenue, driven largely by beer sales.
Nigerian Breweries Plc, the country’s biggest brewer, led the pack with net revenue of ₦1.05 trillion, up from ₦710.87 billion in the same period of 2024. After covering production, distribution, administrative and finance costs, the company returned to profitability, posting a profit after tax of ₦85.51 billion, compared with a ₦149.50 billion loss a year earlier. Earnings per share also rebounded strongly.
The company had earlier signalled a turnaround in March, announcing a 186 per cent jump in net profit in the first quarter of 2025. Revenue for that quarter rose by nearly 69 per cent to ₦383.6 billion, reflecting improved sales and pricing.
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 brewer closed the period with a ₦57.83 billion profit, reversing a ₦112.81 billion loss recorded the previous year. Rising costs were offset by higher sales volumes and improved margins.
Earlier in the year, the company reported a return to profit in the second quarter, posting ₦11.9 billion in earnings after tax, supported by a rise in quarterly revenue to ₦167.4 billion.
Champion Breweries Plc, though smaller in scale, also posted notable growth. Its revenue rose to ₦21.44 billion from ₦14.02 billion, while profit after tax increased sharply to ₦2.05 billion, compared with just ₦21.5 million in the previous year.
Altogether, the three brewers generated ₦1.54 trillion in revenue within nine months, with Nigerian Breweries accounting for the largest share, highlighting the scale of consumer spending on beer and related beverages despite ongoing economic pressures.
