Nigerians spent more than N1.54 trillion on beer and other brewery products within nine months, reflecting sustained consumer demand despite rising living costs and broader economic headwinds.
Financial records from major listed brewers indicate that sales of alcoholic and non-alcoholic beverages continued to attract significant household spending, even as inflation squeezed disposable income.
Nigerian Breweries Plc accounted for the largest share of the market, crossing the N1 trillion revenue mark during the period.
The company also returned to profitability, signaling a recovery after a challenging previous year.
A senior industry analyst described the trend as “evidence that beer remains a resilient consumer product, with spending patterns adjusting rather than collapsing.”
International Breweries Plc also recorded strong inflows from beverage sales, reversing earlier losses and posting a solid profit.
Improved production efficiency and pricing adjustments were cited as key factors behind the rebound.
Champion Breweries Plc, though smaller, delivered steady growth, with revenue and profit both rising on the back of stronger regional demand.
Altogether, the three brewers generated a combined N1.54 trillion from beer and soft drink sales, offering a snapshot of how much Nigerians allocated to brewery products during the nine-month period.
However, economists caution that high consumer spending does not automatically translate into wider economic gains.
According to economist Ayo Teriba, headline sales figures must be viewed alongside actual value creation.
“Sales growth can reflect scale, but real economic impact comes from the value added, not just the volume of transactions,” he said.
Analysts expect brewers to refine their strategies further, focusing on cost efficiency and product mix as consumers remain cautious in the face of persistent economic uncertainty.