Nigerian breweries generated a staggering N1.54tn in revenue during the first nine months of 2025, marking a sharp return to profitability for major industry players like Nigerian Breweries and International Breweries.
Major listed brewers in Nigeria generated a combined revenue of over N1.54tn from beer and non-alcoholic drinks in the first nine months of 2025, according to a recent analysis by The PUNCH. Nigerian Breweries Plc led the sector with N1.05tn in net revenue, marking a significant increase from N710.87bn in 2024. This performance signaled a robust industry rebound, as firms successfully navigated macroeconomic headwinds and inflationary pressures.
The sector saw a dramatic return to profitability, with Nigerian Breweries posting a N85.51bn profit after tax, reversing a massive N149.50bn loss from the previous year. International Breweries Plc also turned its fortunes around, generating N472.57bn in revenue and a N57.83bn profit. Analysts attribute this resilience to strong brand loyalty and strategic “premiumization” efforts, which allowed companies to adjust pricing while maintaining market share despite rising input costs.
“The Group’s revenue grew 47 per cent, supported by appropriate pricing and the strong performance of the premium portfolio,” stated Uaboi Agbebaku, Company Secretary of Nigerian Breweries. However, experts like Ayo Teriba of Economic Associates cautioned that high sales don’t always equal economic value. “What really matters is net output, what value the company is actually creating. GDP, after all, is the sum of value created, not just total sales figures,” he explained.
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