Brewery stocks in Nigeria have become attractive to investors in recent months. The reasons are not far-fetched: Nigeria has a rising youth population with increasing demand for products. Apart from the demand, Nigerian Breweries PLC, along with Champion Breweries and International Breweries Plc generated a whopping 1.09 trillion naira in revenue from drink sales for the half year (H1, Jan – June 2025)
Nigerian breweries recorded a 53% increase in revenue from what they declared in H1 2024.
Figures like these are what make investors smile, and so if you have been considering investing in Nigerian breweries, this article provides you with exactly what you need to know.
Overview of Brewery Stocks in Nigeria
The Nigerian brewery industry has been affected in recent times by persistent inflation, increased costs of production, and a volatile currency. Yet, stocks still show that companies are making impressive revenue. The main players in the brewing subsector of the Nigerian stock exchange market are Nigerian Breweries, which is the biggest in terms of market dominance, distribution, and sales; International Breweries, which leads in terms of market capitalization; and Guinness Nigeria. Other players are Champion and Golden Guinea Breweries.
Nigerian Brewery Industry Analysis
As of when writing this article (October 2025), Nigerian Brewery stocks have been among the top performers on the Nigerian Stock Exchange.
In 2025, Champion Breweries has seen the most gains, sitting at 335% (YTD), Guinness Nigeria and International Breweries come next with 161.57% and 160.36% respectively. Nigerian breweries come in 4th place at 132.81%.
These top performances reflect a major rebound from the lows experienced in 2023/2024.
It is even more interesting to note that Brewery stocks in Nigeria command a phenomenal 5 trillion + Naira in market capitalization, showing that there is significant investor interest in this sector.
Nigerian Brewery stocks are also way above most non-brewery consumer stocks like Dangote sugar, Nestle. etc.
| Stock | YTD % | Comment |
| Champion Breweries | +335.70 % | Among Nigeria’s best-performing stocks overall |
| International Breweries | +160.36 % | Reversal from prior-year losses; investors pricing in turnaround |
| Guinness Nigeria | +161.57 % | Boosted by Diageo–Tolaram transition expectations |
| Nigerian Breweries | +132.81 % | Recovery despite FX losses in FY 2024 |
| Golden Guinea Breweries | –17.82 % | Illiquid, smaller regional player |
| Sector average (breweries) | ≈ +154 % | Above most non-brewery consumer stocks (e.g., Unilever +124 %, Nestlé +118 %) |
Source: Nigerian Exchange- Listed companies
Profit Opportunities of Investing in Nigerian Brewery Stocks
The figures appear good for the year 2025 for Nigerian beer producers. Most of them have recorded impressive gains that may be a good signal of better days ahead. Here are some reasons you may want to consider investing in Nigerian brewery stocks:
Revenue Potential
Based on the first half of 2025, which saw Nigerian breweries, Champion and International breweries grow their revenue by 53.2%, investors may likely see more gains for H2. Nigeria is also Africa’s second-largest beer producer (17.7 million hectolitres), only behind South Africa. The revenue potential is massive because the population is on the rise, and the youth are forming the majority of that population. So, the demand is always there. There has also been a notable rise in the number of female consumers, which has driven the demand for newer, sweeter, and coloured flavors of beer across board.
End of Year Festivities
Towards the end of the year, as festivities and celebrations begin to roll in, consumption increases, as do sales and profits. As Christmas and the end of the year approach, brands run several promotions, music shows, and entertainment, all of which would need large numbers of beers, increasing demand and consumption.
Larger Market with Lower Penetration
The Nigerian beer market still has some great potential, as it still has a relatively low consumption per capita when put side by side with more mature markets.
Great margins
Net foreign exchange loss was significantly reduced in 2025. Federal policy is beginning to create a better environment economically, while pushing for a more stable currency.
Leadership and Innovation
The leadership of Nigerian brewery companies is championing innovation, exploring different packaging, flavors, and variants, just to get a competitive edge. Competition can be very good for any industry, as this drives growth and innovation. So, if this innovation streak continues, we are sure that they would all put customer satisfaction as their priority, which would in turn drive sales and increase demand.
Risks of Investing in Brewery stocks in Nigeria
Import Dependence
Breweries rely heavily on raw materials for production and also packaging. A naira depreciation may affect the price of Nigerian brewery stocks.
Increase in Operating Costs
The prices of some of the materials produced locally have also skyrocketed in recent times. When you also consider the costs of transportation, power, logistics, and distribution, you have a case of consistently rising operational costs that are eating into profit. For instance, in FY 2024, direct costs surged by 96.7%; there is no way that would not affect margins in any industry!
Regulatory and Policy Changes
The last couple of months have seen major changes in policy signed into law. A major highlight is the tax reform act, signed by the president, which goes into full force next year. Investors and analysts are still watching to see the outcome on companies’ profits and investments.
Reduced Demand
The Nigerian brewery industry report stated that per capital consumption rates of beer are declining in Nigeria. This creates a situation where there eis an increase in the population of the country, but a reduction in demand. The reason is simple: people have reduced disposable income, and when this happens, priority comes down to basic needs like food, shelter, and clothing. Purchasing beer would only come down to special occasions or events. With more medical and health information online, there are also more health-conscious individuals advocating for a return to natural products, drinks, and foods.
To Close:
2025 has so far been a good year for Nigerian brewery stocks. The best performers have been Champion Breweries, International Breweries, Guinness Nigeria and Nigerian Breweries.
There are so many profit opportunities when it comes to investing in Brewery stocks in Nigeria. But take your time to observe the tide and understand the market before investing. Join the SimplVest newsletter for more investing tips.
