NIGERIANS CONSUME BEER WORTH N599 BILLION IN A YEAR

Nigerians drank a staggering N599.11 billion worth of beer from January to June 2022, according to the first quarter figures of the country's four largest breweries.

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.

When compared to the N456.44 billion they made during the same period in 2021, the four top brewers in the nation had a 31.2% increase in revenue, according to reports.

In contrast to the N23.44 billion reported in HI 2021, the net profit reported by Nigerian Breweries, Guinness Nigeria, International Breweries, and Champion Brew climbed by 54.1% to N36.14 billion in the first half of this year.