Nigerians drink beer worth N599.11 billion in six months running from January t0 June 2022, according to the first quarter results of four major brewers in the country.
Champion Brew ended the First Half (H1) 2022 as the best performing company in the brewery Industry, as Nigerian Breweries and Guinness Nigeria lost market share to their rivals.
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.
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