Nigerians consumed beer worth N599.11 billion from January to June

According to the first quarter statistics of the four biggest brewers in the country, Nigerians consumed beer worth N599.11 billion from January and ending in June 2022.

According to Prime Business Africa's industry analysis of their revenue growth from January to June 2022, the four top brewers in the nation's revenue increased by 31.2%. Nigerian Breweries, Guinness Nigeria, International Breweries, and Champion Brew produced a total N599.11 billion when compared to the N456.44 billion they made during the same period in 2021,

Nigerian Breweries and Guinness Nigeria lost market share to competitors, making Champion Brew the highest grosser at the end of the First Half (H1) 2022.

Champion Brew experienced the highest revenue growth—41.6%— making it the best-performing company in the sector. Compared to the N4.84 billion reported in H1 2021, it generated N6.86 billion.

International Breweries made a profit when compared to last year. They generated N111.40 billion compared tomN81.96 billion grossed during the same time period in 2021 – a difference of 35.9%.

Nigerian Breweries increased its revenue from January to June this year to N274.03 billion, when compared to the N209.21 billion turnover of H1 last year.

Guinness Nigeria was the worst-performing company in terms of sales growth, They earned N206.82 billion in H1 this year and N160.41 billion last year which means they grew by 28.9%.

The company with the biggest increase in profit after taxes was Guinness Nigeria, which had N15.65 billion at the end of the first half of this year.