Nigeria’s brewed products sector clawed its way back to profitability last year after a bruising stretch of losses, according to Nigerian Breweries Plc, which credited the turnaround to smarter pricing strategies and stronger consumer engagement.
The Managing Director, Nigerian Breweries Plc, Thibaut Boidin, shared the news in Lagos on Thursday as part of the firm’s 2025 annual report. He acknowledged that while the government’s economic reforms helped steady several key indicators, ordinary Nigerians were still struggling to feel the benefits in their wallets.
“After consecutive years of net losses, 2025 marked a return to profitability for the sector — and our company was a big part of that rebound,” Boidin said. The recovery wasn’t without its bumps, though. Cost pressures, cautious shoppers, and stiff competition dragged volumes down slightly, with the second half of the year noticeably softer than the first.
Nigerian Breweries maintained its market leadership by leaning into premium products, refining its pricing approach, and deepening ties with trade partners.
Looking ahead, Boidin sounded a note of caution. The company had expected 2026 to be a smoother ride on the back of continued government reforms, but fresh geopolitical tensions in the Middle East have rattled that outlook. With crude oil prices threatening to breach $100 a barrel, Nigeria faces rising energy costs, foreign exchange volatility, and persistent inflation. The Central Bank of Nigeria projects GDP growth of 4.49 percent and average inflation of 12.94 percent this year under baseline conditions — though infrastructure deficits, insecurity, and lower oil output could make things worse.
Boidin also raised a red flag over a proposed tax stamp regime for excise verification, warning that piling more regulatory burden onto a sector still finding its footing could undo recent progress.
Managing Director Thibaut Boidin echoed those concerns at the company’s pre-AGM briefing, pointing to declining consumer purchasing power as one of the industry’s most stubborn challenges. He noted that the company is actively working with groups like the Manufacturers Association of Nigeria to influence fiscal policy in the sector’s favour, and welcomed the government’s three-year excise framework as a step toward the kind of predictability businesses need to plan and invest with confidence.
On a brighter note, Nigerian Breweries will mark its 80th anniversary of operating in Nigeria in 2026 — a milestone Anammah called a testament to the company’s resilience through decades of economic turbulence.
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