Nigerians Consume N599.11billion Worth Of Beer In Six Months – Report

Reports of four major beer brewers in Nigeria have shown that Nigerians consumed N599.11billion worth of beer within the first six months of this year.

Checks revealed that in the first half (H1) of this year running from January to June, Champion Brew ended as the best performing company in the brewery Industry while the Nigerian Breweries and Guinness Nigeria lost market share to their rivals.

However, in an analysis of the industry’s revenue growth between January and June 2022, an online platform, Prime Business Africa, reported that Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew generated a combined N599.11 billion.

This showed that the gross turnover of the four largest breweries in the country grew by 31.2 percent when compared to the N456.44 billion they generated during the corresponding period in 2021.

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

This is even despite the fact that social life has been affected in some towns in South-East states going by the insecurity and recent violence by gunmen, forcing many residents to observe sit-at-home on Mondays.

Eaglesforesight had in January 2022 reported that it was not best of times for communities in Imo State, including Okporo, Ihioma, Umutanze, Orsu Ihitteukwa, and Mgbidi-Awo.

In these places, people had at that time hurriedly rushed home before 6pm to avoid being caught in what had become a regular occurrence of shooting in the zone between gunmen and security operatives.