Nigerians consume N599.11 billion worth of beer in six months

Nigerians consumed a whooping N599.11 billion worth of beer from January to June 2022, the first quarter results of four major brewers in the country have showed. 

In the industry analysis of their revenue growth within January to June 2022, Prime Business Africa gathered Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew generated a combined N599.11 billion.

The turnover grossed by the four largest brewer in the country grew 31.2%, when compared to the N456.44 billion they generated during the corresponding period in 2021, Vanguard reports. 

While the net profit recorded by Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew increased by 54.1%, as it rose to N36.14 billion in H1 this year, in contrast to the N23.44 billion reported in H1 2021.