Beer Makers Smile to the Bank as Nigerians Consume N246bn Worth of Alcoholic, Soft Drinks in 3 Months

• As Nigerians continue to find a way to navigate economic difficulties finding happiness remains a priority
• In total, over N246 billion was spent on alcoholic and soft drinks within the first three months of 2022
• There are four drink manufacturers listed on the Nigerian exchange with the Nigerian breweries leading the market

Champion Breweries Plc, Guinness Nigeria Plc, International Breweries Plc, and Nigerian Breweries Plc show top drink makers in the country smiled home to the bank as Nigerians increased their consumption of alcoholic and non-alcoholic drinks.

Data obtained from the drink markers audited financials submitted to Nigerian Exchange shows from January to March over N245.61 billion was spent by Nigerians to consume their favourite drinks.

The amount spent is a 31.17 per cent increase more than what they paid for the drinks in the same period of 2021.

Read also

Exercise Books, Textbooks, other Print materials to Become more Costly as Cost of Paper Imports hit N1.23trn

Nigerian Breweries Plc

Nigerian Breweries maintained its grip over the market, accounting for N137.77 billion of the total amount generated by the three largest brewing companies in Q1 this year, surpassing the N105.67 billion posted in Q1 2021.

The Company's brands include Star lager beer; Gulder lager beer; Maltina, which is a nourishing malt drink; Legend Extra Stout; Amstel Malta; Heineken lager beer; Maltina Sip-it; Fayrouz, which is a non-alcoholic soft drink; Climax, a herbal energy drink; Goldberg lager; Malta Gold; Life Continental lager; Ace Passion; Star Lite and Star Radler, among others

International Breweries

The second-largest market shareholder earned N57.5 billion in revenue from its Nigerian loyal consumers who bought its products which include Trophy Lager, Budweiser, and Hero from January to March 2022.

Guinness Nigeria

Nigerians also spent N50.3 billion in three months in 2022 buying Guinness Nigeria brands compared to N42.6 billion in the same three months of 2021.

Read also

Fuel Scarcity: Long queues resurface in Abuja, black marketers sell for N300 per litre

Guinness Nigeria, a subsidiary of Diageo Plc of the United Kingdom, was incorporated in 1962 with some of its brands including Smirnoff, Malta Guinness, Orijin, and Guinness among others

Champion Breweries Plc

Champion breweries which is located in Akwa Ibom state also posted a significant increase in its revenue to N3.32 billion from January to March from N2.37 billion recorded in 2021

The main brands in its product portfolio are Champion Lager Beer and Champ Malta.

Massive reactions as diners spend N20.7m on food & drinks

A bill from the Nusr-Et Steakhouse London has got many talking on social media after a table of four spent £37,023.10 (N20,798,808.19) at a restaurant in London.

The table of four ordered bottles of 1996 Petrus, baklavas, and golden tomahawk, amongst other things; their service charge was £4,829.10 (N2,713,897.03).

Nigerians couldn't believe their eyes when the bill was shared on social media and they soon flooded the comment section to react to it.

Source: Legit.ng