Nigerian Breweries Plc and two other companies generated N1.09 trillion revenue from the sale of drinks in the half-year (H1) ended June 2025, despite the high cost of living in Nigeria due to double-digit inflation and weakening of the naira at the foreign exchange market.
According to the H1 2025 unaudited result and accounts, the N1.09 trillion revenue is a significant increase of 53.2per cent from N711.58 billion reported in the half year ended June 30, 2024.
The other two companies are Champion Breweries Plc and International Breweries Plc. The breakdown showed that Nigerian Breweries declared N733.19 billion in revenue in H1 2025, about a 53 per cent increase from N478.84 billion declared in H1 2024.
International Breweries posted N340.99 billion revenue in H1 2025, representing an increase of 53 per cent from N223.2 billion reported in H1 2024, while Champion Breweries announced N15.9billion revenue in H1 2025, up by 66.9 per cent from N9.5billion declared in H1 2024.
According to the report, these three companies’ N1.09 trillion revenue growth is being propelled by social drinking culture amid a hike in the cost of living and strategic distribution, especially during the Easter and Sallah festive seasons.
The industry continued to face significant challenges in 2025, including a hike in the cost of goods largely due to macroeconomic headwinds, including currency depreciation and higher petrol prices. The price averaged N939.5 per litre in December after peaking at N1,184.83 per litre in June 2024.
These cost pressures also impacted operating expenses (OPEX), foreign exchange (FX) losses, and Finance Costs. Amid revenue growth, Nigerian Breweries, Champion Breweries Plc, and International Breweries, which recorded losses in H1 2024 due to foreign exchange policies, recovered and posted impressive results in H1 2025.
For instance, Nigerian Breweries migrated from a loss of N115.5 billion in H1 2024 to N130.84 billion in H1 2025, while International Breweries posted a profit of N41.3 billion in H1 2025 from a loss of N106.78 billion declared in H1 2024.
In addition, Champion Breweries announced a N2.29 billion profit in H1 2025, as against a loss of N386.7 million in H1 2024. In H1 2024, Champion Breweries reported a loss of N910.74 million on foreign exchange transactions, as against NIL in H1 2025.
Afrinvest Limited, in a report titled “Nigerian Brewery Sector Update Report: Brewing Back to Profitability,” revealed Nigeria’s brewery industry revenue in 2024 significantly outperformed our base-case forecast, rising by 39.2 per cent to N1.9 trillion. “This was largely driven by inflation-induced price adjustments across product lines and a marked improvement in consumer purchasing power following the 133.5 per cent increase in the national minimum wage to N70,000 in Q3.”
“Looking forward, we project a return to profitability in 2025 for the domestic industry, with a base-case profit before tax estimate of N215.3 billion. This outlook is underpinned by a mix of favourable external conditions and internal initiatives such as capital injections, merger and acquisition synergies, and product resizing strategies,” the report added.
