Nigerians Spend ₦1.54 Trillion on Beer, Soft Drinks in Nine Months — Breweries Record Massive Profits

Nigerians Spend ₦1.54tn on Beer and Beverages in Nine Months

Nigerians spent an estimated ₦1.54 trillion on beer and other beverages within the first nine months of 2025, according to a financial analysis of major listed brewing companies in the country.

The figure is based on the combined revenue performance of Nigerian Breweries Plc, International Breweries Plc, and Champion Breweries Plc, whose unaudited financial statements for the period ended September 30, 2025 show strong growth driven largely by beer sales.

Nigerian Breweries Records ₦1.05tn Revenue

Nigerian Breweries Plc, the country’s largest brewer, generated ₦1.05 trillion in net revenue, marking a significant increase from ₦710.87 billion recorded in the same period of 2024.

. Cost of sales: ₦631.23bn

. Gross profit: ₦415.15bn

. Selling & distribution expenses: ₦193.85bn

. Administrative expenses: ₦59.58bn

. Finance costs: ₦39.15bn

After accounting for all expenses, the company posted a profit after tax of ₦85.51bn, a sharp turnaround from the ₦149.50bn loss recorded in 2024.

Basic earnings per share also improved significantly, rising to 275 kobo, compared with a loss of 1,455 kobo in the previous year.

Return to Profitability in 2025

In March 2025, Nigerian Breweries announced a return to profitability, reporting a 186% year-on-year increase in net profit for the first quarter.

According to results released on the Nigerian Exchange Limited (NGX), revenue for the quarter ended March 31, 2025, rose to ₦383.6bn, representing a 68.9% increase from ₦227.1bn recorded in Q1 2024.

International Breweries Also Posts Strong Growth

International Breweries Plc, which operates across Nigeria and other West African markets, recorded ₦472.57bn in revenue for the nine-month period, up from ₦343.45bn in 2024.

The company posted a profit after tax of ₦57.83bn, reversing a ₦112.81bn loss in the previous year.

. Cost of sales: ₦311.64bn (up from ₦248.58bn)

. Administrative, marketing & distribution expenses: ₦92.09bn

The results highlight rising consumer demand for beer and beverages despite economic pressures.

What This Means for Nigeria’s Economy

The combined revenue of over ₦1.54 trillion underscores:

. Strong consumer spending on alcoholic and non-alcoholic drinks

. A major rebound in Nigeria’s brewing sector

. Improved operational efficiency and pricing strategies by brewers

Industry analysts note that while inflation and exchange-rate pressures remain, breweries appear to be successfully passing costs to consumers.