Prime Business Africa
Shareholders of brewery companies recorded over N1.23 trillion as gains in the first quarter (Q1) of 2026, according to Prime Business Africa’s (PBA) analysis.
Also, the combined market valuation of the companies increased by 0.23 percent to N3.23 trillion on March 31, from the N2.23 trillion recorded on January 2, with Guinness driving the growth.
Join our WhatsApp ChannelAccording to the analysis, Guinness Nigeria’s shares were the best-performing company, followed by Champion Breweries, while Nigerian Breweries and International Breweries closed the period disappointing.
Best Performing Brewery Companies In Q1 2026
Guinness Nigeria
At the end of the first quarter of this year, Guinness’ share price surged to N423.20 kobo, rising above the N349.90 kobo equity traders exchanged the shares at the start of the same period.
- The N73.3 kobo increase in Guinness share price led to a 20.94 percent increase in the value of shares held by shareholders of the company, representing a combined gain of N160.55 billion for the investors.
- This also resulted in the market valuation of Guinness rising to N926.97 billion at the end of March, surpassing the N766.41 billion the company started the year with.
- However, despite the jump in Guinness’ market valuation, the company closed the first quarter as the third most valuable brewer in the brewery industry, the same position the firm began Q1 with.
Champion Breweries
Champion Breweries is the second-best-performing brewer in the industry, following an 11.07 percent growth in the value of investment held by the shareholders of the company during the period under review.
- The growth recorded by the company’s shareholders represents a combined gain of N17.55 billion between January and March, according to Prime Business Africa’s analysis.
- It was gathered that the gain was driven by a N1.55 kobo increase in Champion Breweries’ share price, which soared from N14 per share on January 2 to N15.55 kobo per share on March 31.
- The increase also raised the market valuation of Champion Breweries to N176.08 billion, from N158.53 billion during the period under review, making the company the fourth most valuable firm, in the same position it started Q1 with.
Worst-Performing Brewery Shares
Nigerian Breweries
The investment held by shareholders of Nigerian Breweries decreased marginally by 2.40 percent in the first quarter, making the company the worst-performing in the industry.
- This represents a N55.76 billion combined loss for the shareholders, while it also reduced Nigerian Breweries market valuation from N2.31 billion at the start of the first quarter to N2.26 trillion at the end of Q1.
- Prime Business Africa learnt that the loss was on the back of a N1.8 kobo decline in Nigerian Breweries’ share price, which decreased to N73 per share on March 31, from N74.80 kobo per share on January 2.
- However, the decline in Nigerian Breweries’ share price did not change the position of the company on the list of the most valuable brewery companies in Nigeria, as the brewer retained the second spot.
International Breweries
International Breweries was the second-worst-performing brewery share after the company’s shareholders lost 1.75 percent of their investments in the brewer in the first quarter.
- The decline, which represents a combined loss of N42.07 billion within three months, was driven by a N0.25 kobo drop in International Breweries’ share price, as traders exchanged a share of the brewer at N14 on March 31, compared to the N14.25 kobo it was traded on January 2.
- Following the decline in the price of International Breweries’ share, the company’s market valuation nosedived to N2.35 trillion at the end of the first quarter, from N2.39 trillion at the start of the same period.
- But the drop was not enough to cost International Breweries its top position in the industry, as the company retained its spot as the brewer with the highest stock market valuation in the brewery industry.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
