Champion Breweries Plc recorded a robust performance in the nine months ended September 30, 2025, with revenue rising to ₦21.44 billion, compared with ₦14.02 billion in the corresponding period of 2024.
The company posted a profit after tax of ₦2.05 billion, a significant improvement from ₦21.50 million recorded a year earlier. During the period, cost of sales increased to ₦11.14 billion from ₦8.13 billion, while selling and distribution expenses rose to ₦4.24 billion from ₦3.25 billion, reflecting higher input and logistics costs.
Across the sector, the combined revenue of the three major brewing companies reached ₦1.54 trillion, with Nigerian Breweries Plc accounting for the largest share of total sales.
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Analysts say the results underline the resilience of Nigeria’s beer market, which continues to benefit from strong brand loyalty and extensive distribution networks, despite rising production costs and wider macroeconomic pressures.
Commenting on changing consumer behaviour, Agusto & Co. Head of Financial Institutions Ratings, Ayokunle Olubunmi, said the industry is witnessing a gradual shift in spending patterns, with some consumers moderating beer consumption.
“Following AB InBev’s acquisition of International Breweries, the company invested in new breweries and production facilities to expand capacity. This shows that operators are prioritising scale and efficiency to meet demand and strengthen their market position,” Olubunmi said.
However, the Chief Executive Officer of Economic Associates, Ayo Teriba, cautioned that strong sales figures do not necessarily translate into proportional economic impact, noting that broader structural factors influence overall contribution to the economy.
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