It’s not clear enough if Germans drink more beer than Nigerians because the recent stats as to the latter’s beer consumption is riveting.
Nigeria’s major listed breweries have reported a combined revenue exceeding N1.54 trillion from beer and non-alcoholic beverage sales in the first nine months of 2025. The figures highlight robust consumer demand despite prevailing macroeconomic headwinds and shifting spending patterns.
According to a report seen inside The Punch newspaper, leading the sector, Nigerian Breweries Plc, the country’s largest brewer, recorded net revenue of N1.05 trillion for the period ending September 30, 2025, a substantial leap from N710.87 billion in the same span last year.
More notably, the company swung decisively back into profitability, posting a profit after tax of N85.51 billion compared to a loss of N149.50 billion in 2024. Earnings per share followed suit, rising to 275 kobo from a previous loss per share of 1,455 kobo.
Also, International Breweries Plc, which operates across Nigeria and West Africa, also posted strong growth with revenue climbing to N472.57 billion from N343.45 billion a year earlier. The performance shows a sector-wide recovery, driven by strong brand loyalty, extensive distribution networks, and strategic investments in production capacity.
Meanwhile, there are feelers that the resilience comes even as some consumers adjust their habits.
“The market is experiencing a gradual shift in spending patterns, with some consumers reducing beer consumption,” said Ayokunle Olubunmi, Head of Financial Institutions Ratings at Agusto & Co. He added that this trend is influencing how breweries refine their strategies, with an emphasis on scaling operations and improving efficiency.
Following its acquisition by global giant AB InBev, International Breweries has invested significantly in new breweries and production facilities, a move reflecting industry confidence in Nigeria’s long-term demand.
Yet, amid the impressive revenue figures, analysts urge a measured perspective. Ayo Teriba, CEO of Economic Associates, cautioned that strong sales do not automatically translate to proportionally greater economic contribution, pointing to factors such as input costs, foreign exchange pressures, and real job creation.
Nevertheless, the nine-month results mark a notable turnaround for an industry that faced steep challenges in recent years. With deepening distribution, product innovation, and continued investment, Nigeria’s beer market continues to demonstrate its capacity to thrive even in a complex economic climate.
Nigerians love their beer. Phew!
