Major brewing companies listed on the Nigerian Exchange recorded a combined revenue of about N1.54tn from beer and non alcoholic beverages within the first nine months of 2025, reflecting sustained consumer spending despite economic pressures.
Financial disclosures from Nigerian Breweries Plc, International Breweries Plc and Champion Breweries Plc for the period ended September 30, 2025, show strong revenue growth largely driven by beer sales.
Nigerian Breweries Plc led the market with revenue of N1.05tn, rising sharply from N710.87bn recorded in the same period of 2024. The brewer returned to profitability, posting a profit after tax of N85.51bn compared with a loss in the previous year, supported by improved sales volume and pricing adjustments.
International Breweries Plc also reported significant growth, generating N472.57bn in revenue, up from N343.45bn in 2024. The company recorded a profit after tax of N57.83bn, reversing earlier losses as higher sales offset rising production and distribution costs.
Champion Breweries Plc posted revenue of N21.44bn, an increase from N14.02bn in the corresponding period of the previous year. The company reported a profit after tax of N2.05bn, reflecting improved operational efficiency.
Analysts say the performance underscores the resilience of Nigeria’s beer market, supported by strong brand loyalty and extensive distribution networks, even as inflation and energy costs weigh on manufacturers.
Commenting on industry trends, analysts noted that breweries are adjusting strategies to changing consumer behaviour, including moderated consumption patterns and a growing focus on operational efficiency.
However, economists caution that rising sales figures do not automatically translate to broader economic value, stressing that actual contribution depends on value creation rather than turnover alone.
