Nigerians Spent ₦1.41 Trillion on Beer, Malt and Spirits in H1 2026
Nigerians spent about ₦1.41 trillion on beer, malt and spirits in the first half of 2026, according to the half‑year results of Nigerian Breweries, International Breweries and Guinness Nigeria, which together control roughly 90% of the formal brewing market. Nigerian Breweries posted ₦803.7 billion in revenue, up 9% year‑on‑year; International Breweries stayed flat at ₦342.1 billion; Guinness Nigeria rose 11.8% to ₦265 billion after being taken over by Tolaram Group. Combined pre‑tax profit jumped nearly 24% to ₦269.4 billion, driven by price hikes introduced in March 2024, lower financing costs and easing foreign‑exchange pressure. Despite these gains, younger consumers are shifting toward spirits, wine, ready‑to‑drink beverages and non‑alcoholic options, prompting the brewers to spend at least ₦130.6 billion on marketing and invest ₦103.3 billion in production capacity. Investors reacted cautiously, with Nigerian Breweries's share down 11% over six months while Guinness Nigeria's stock rose 7% and International Breweries's fell 27%. The data shows the industry's resilience through price increases and diversification, but also signals a longer‑term shift in drinking habits. Will you absorb higher prices for your favourite brands, explore cheaper alternatives, or adjust your consumption habits as brewers chase new product lines?