Nigeria’s leading beer manufacturers have recorded a remarkable turnaround in the first quarter of 2025, posting a combined pre-tax profit of about ₦115 billion after years of grappling with heavy losses. The recovery marks a sharp contrast to the same period last year, when the sector collectively lost over ₦210 billion.
Nigerian Breweries led the charge with a pre-tax profit of nearly ₦70 billion, reversing a ₦65.6 billion loss in the first quarter of 2024. International Breweries followed with ₦35 billion, up from a loss of ₦89.3 billion, while Guinness Nigeria posted ₦10 billion after a ₦56 billion deficit in the previous year.
Industry analysts attribute the rebound to a more stable naira, which significantly reduced foreign exchange losses, as well as a stronger reliance on locally sourced raw materials. Nigerian Breweries, for example, cut its forex losses to just ₦178 million compared to billions lost a year earlier.
Improved consumer demand, strategic pricing adjustments, and easing cost pressures also played key roles in lifting revenues. Data from Afrinvest shows brewery sector profits surged 148.2 percent year-on-year to ₦81.9 billion in Q1, signalling a broader industry recovery.
Although the sector is still recovering from the economic shocks that eroded its profitability in recent years, the latest figures suggest that Nigeria’s beer makers are regaining their footing and could be poised for sustained growth in the months ahead.
