Prime Business Africa
Nigerians spent over N1.44 trillion on alcohol and non-alcoholic drinks between January and June 2026, up 8.59 percent when compared to the N1.33 trillion revenue generated by brewers in the first six months of 2025.
The N114.45 billion increase in revenue was driven mostly by Champion Breweries and Guinness Nigeria, according to Prime Business Africa’s (PBA) analysis of the unaudited financial statements of brewers on the Nigerian Exchange (NGX).
Join our WhatsApp ChannelNote that the revenue is based on the turnover of the four companies: Champion Breweries, Guinness Nigeria, Nigerian Breweries and International Breweries, listed on the Nigerian stock market.
Further analysis of the financial statements showed that the brewers recorded a year-on-year increase of N37.90 billion or 4.73 percent in their cost of sales.
The brewers incurred N839.76 billion in the first half (H1) of 2026 to make their alcoholic and non-alcoholic drinks available, compared with N801.85 billion expended in the corresponding period in 2025.
Drink Producers With Highest Market Share By Revenue In H1 2026
Nigerian Breweries
Nigerian Breweries accounted for the largest market share in the first half, accounting for 55.56 percent of the industry’s turnover, after recording N803.68 billion in revenue.
The company’s market share increased from 55.41 percent recorded in H1 2025 – when Nigerian Breweries generated N738.14 billion in turnover – after the revenue increased by 8.88 percent year-on-year.
Nigerian Breweries expended N448.82 billion on cost of sales for its products during the period under review, up by 5.07 percent, compared to the N427.14 billion sustained in H1 2025.
The company’s revenue growth, overshadowing cost of sales, supported its profit before tax (PBT), which increased by 18.21 percent to N156.32 billion in H1 2026, from N132.24 billion in the same period last year.
International Breweries
International Breweries trails Nigerian Breweries with a market share of 23.65 percent in the first six months of 2026, which is below the 25.60 percent held in the corresponding period in 2025.
The decline in International Breweries’ market share followed slow revenue growth, after the company’s turnover rose marginally by 0.32 percent to N342.06 billion in H1 2026, compared to the N340.99 billion in the previous year’s H1.
However, the company made up for the sluggish revenue growth with an 8.49 percent decrease in cost of sales, which gulped N200.77 billion in the first half of this year, below the N219.41 billion incurred in the same period in 2025.
This contributed to the 21.55 percent growth recorded in the pretax profit, as International Breweries earned N74.78 billion PBT for the period between January and June, above the N61.52 billion achieved in H1 last year.
Guinness Nigeria
Guinness Nigeria grew its market share to 18.32 percent in the first half of 2026, after its revenue surged by 11.83 percent year-on-year to N265.04 billion.
The brewer’s market share increased from the 17.79 percent recorded in the first six months of last year, when Guinness generated N237 billion in revenue.
It was gathered that Guinness spent N167.57 billion on cost of sales between January and June 2026, compared to the N147.61 billion in the first half of the previous year, representing a 13.52 percent increase.
In addition, the brewery company closed the period under review with profit before tax of N38.33 billion, up by 60.89 percent when compared to the N23.82 billion pretax profit recorded in H1 2025.
Champion Breweries
The biggest gainer was Champion Breweries, as the company’s market share soared to 2.47 percent between January and June 2026, above the 1.20 percent held in the same period the year before.
Prime Business Africa’s analysis showed that the surge was driven by a 124.25 percent growth in revenue, after Champion Breweries reported N35.72 billion turnover in H1 2026, compared to the N15.93 billion generated in H1 2025.
The threefold growth was achieved after the company increased its cost of sales by 193.96 percent to N22.58 billion in the first half of this year, exceeding the N7.68 billion expended in the first six months of the year before.
This impacted Champion Breweries’ pretax profit, as it fell to N2.27 billion in H1 2026, below the N3.45 billion recorded in the corresponding period in 2025, indicating a 34.13 percent decline.
Meanwhile, in 2025, shareholders of the drink producers recorded over 100 percent gains, with Guinness and Champion Breweries investors recording the highest investment appreciation.
For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: [email protected] and [email protected]
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.
