Major listed breweries in Nigeria generated over N1.54tn in combined revenue within the first nine months of 2025. This figure reflects Nigerians’ spending on beer and non-alcoholic beverages during the review period.
An analysis of unaudited financial statements supports this performance across the brewing sector. Nigerian Breweries Plc led revenue growth among listed brewers during the period under review. The company posted N1.05tn in net revenue, rising sharply from N710.87bn in 2024.
Strong beer sales largely drove this impressive increase. Gross profit reached N415.15bn despite rising production and distribution costs. Importantly, the brewer returned to profitability after recording heavy losses the previous year. International Breweries Plc also recorded significant revenue growth during the same period.
The company generated N472.57bn in revenue, up from N343.45bn in 2024. It reported a profit after tax of N57.83bn, reversing prior-year losses. Higher sales volumes supported improved margins despite increased operating expenses.
Champion Breweries Plc posted moderate but notable growth during the review period. Revenue rose to N21.44bn, compared with N14.02bn in the previous year. The company also recorded higher profits, supported by improved sales performance.
Overall, Nigerian Breweries Plc accounted for the largest share of industry revenue. Analysts say the results reflect resilience within Nigeria’s beer market. Strong brand loyalty continues to support demand despite inflationary pressures.
However, some consumers are gradually reducing beer consumption due to economic constraints. Industry experts note that breweries are prioritising efficiency and capacity expansion. Yet, economists caution that higher sales do not always equal stronger economic value creation.
