Nigerians Consume Beer Worth N599.11bn In 6months

The reports of four major brewers in the country showed that Nigerians drank beer worth N599.11 billion in six months running from January to June 2022.

Checks by LEADERSHIP revealed that Nigerians drink beer worth N599.11 billion in six months running from January to June 2022, according to the latest first quarter results of four major brewers in the country.

Champion Brew ended the first half (H1) 2022 as the best performing company in the brewery Industry, as Nigerian Breweries and Guinness Nigeria lost market share to their rivals.

Meanwhile, industry analysis of their revenue growth within January to June 2022, an online platform, Prime Business Africa, gathered that Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew generated a combined N599.11 billion.

The turnover grossed by the four largest breweries in the country grew 31.2 per cent, when compared to the N456.44 billion they generated during the corresponding period in 2021.

The net profit recorded by Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew increased by 54.1 per cent, as it rose to N36.14 billion in H1 this year, in contrast to the N23.44 billion reported in H1 2021.