Nigerians Spent N1.54tn on Beer and Non-Alcoholic Drinks in First Nine Months of 2025, PUNCH Analysis Shows

An analysis by The PUNCH reveals that Nigerians spent over N1.54 trillion on beer and non-alcoholic beverages in the first nine months of 2025, based on unaudited financial statements of major listed brewers.

Despite inflation, forex volatility, and excise duty hikes, the sector showed resilience through brand loyalty, premium product focus, and efficiency gains.

Nigerian Breweries Plc led with N1.05 trillion in revenue, reversing a prior-year loss to post N85.51 billion profit after tax. International Breweries Plc recorded N472.57 billion in revenue and N57.83 billion profit, buoyed by AB InBev’s investments in new facilities. Champion Breweries Plc earned N21.44 billion in revenue and N2.05 billion profit, marking significant growth.

informed observers highlighted both opportunities and cautions: Agusto & Co. noted capacity expansion as a sign of confidence in long-term demand, while Economic Associates warned that headline sales figures may not fully reflect true economic value added.

The performance underscores Nigeria’s beer market resilience, even as brewers adapt to shifting consumer behavior by diversifying into non-alcoholic lines and premium offerings.