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Who dominates Nigeria’s beer market? Guinness vs. International Breweries vs. Nigerian Breweries

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Who dominates Nigeria’s beer market? Guinness vs. International Breweries vs. Nigerian Breweries

Nigeria’s alcoholic beverage industry is fiercely competitive, but in 2025, the battle for market share between Nigerian Breweries, International Breweries, and Guinness Nigeria is more intense than ever.

So, who really owns the beer market?

While Nigerian Breweries maintains dominance in Nigeria’s brewery market by size, revenue, and assets, International Breweries has emerged as the biggest winner in 2025 in terms of shareholder return.

Guinness Nigeria, meanwhile, is quietly staging a comeback and may soon lead on dividend payouts.

Nigerian Breweries still sells the most beer
When it comes to selling beer in Nigeria, Nigerian Breweries is still the biggest player.

In 2024, it made over N1.1 trillion in sales, which is like selling more beer than International Breweries and Guinness Nigeria combined. This was a huge 81% jump from the previous year.

International Breweries also did well, earning N488.96 billion, an even bigger jump of 88%, while Guinness Nigeria made N299.49 billion, growing by 31%.

In the first three months of 2025, Nigerian Breweries stayed ahead, pulling in N383.6 billion in sales. That’s more than twice what International Breweries made (N173.6 billion) and three times Guinness’s (N118.3 billion).

But here’s the twist: Guinness Nigeria is starting to bounce back. Even though its sales are smaller, it grew its revenue by 53% in the first three months of 2025. That’s a sign that Guinness is regaining its strength and could surprise everyone later in the year.

Nigerian Breweries leads in profit turnaround
There’s finally some cheer in Nigeria’s beer market. After a rough 2024 filled with heavy losses, all three major brewers bounced back to profit in the first three months of 2025.

But leading the turnaround is Nigerian Breweries, which pulled off the strongest recovery:

Nigerian Breweries flipped a N65.6 billion loss into a solid N69.99 billion pre-tax profit.
International Breweries followed, with N35.07 billion, rebounding from a steep N89.35 billion loss.
Guinness Nigeria also improved, reporting N10.28 billion after a N56 billion loss.
Still, the scars of 2024 run deep. For the full year:

  • Nigerian Breweries was still in the red with a N182.2 billion loss.
  • International Breweries recorded a N111.8 billion loss.
  • Guinness Nigeria wasn’t spared either, with N73.7 billion lost.

The return to profitability can largely be attributed to a more stable foreign exchange environment, which significantly reduced FX losses.

Nigerian Breweries has the biggest financial muscle
When it comes to size, Nigerian Breweries is clearly ahead. As of March 2025, it had N1.144 trillion in total assets, much bigger than:

International Breweries: N742.93 billion
Guinness Nigeria: N285.63 billion

This huge asset base means Nigerian Breweries has more room to grow, invest in new ideas, and hold its ground in the market. It also gives it more power when dealing with suppliers and partners, which really matters when prices rise everywhere.

Guinness set to lead on dividends
What sets Guinness Nigeria apart in 2025 is its path to restoring shareholder value through potential dividends.

As of March 2025, Guinness had trimmed its retained losses to –N39.66 billion, down from –N46.38 billion. In contrast:

Nigerian Breweries still carried –N126.33 billion in retained losses,
While International Breweries posted –N212.57 billion.

This trend puts Guinness in pole position to break even and return to dividend-paying status, possibly before its competitors. Development dividend-hungry investors will be watching closely.

Market cap & shareholder return: International Breweries tops the charts
When it comes to market value and shareholder reward in 2025, International Breweries is sitting at the top of the leader board.

As of June 5, 2025, International Breweries commands the largest market capitalization among Nigeria’s three brewing giants, with a value of N1.84 trillion.

That puts it ahead of Nigerian Breweries at N1.76 trillion, and far above Guinness Nigeria, which stands at N197 billion.

But that is not all; shareholders of International Breweries are also enjoying the highest returns this year.

The stock has delivered an impressive +97% year-to-date gain, outpacing Nigerian Breweries’ solid +78% gain, and Guinness Nigeria’s more modest +28%.

While most people look at market capitalization (the value of a company’s shares) to judge a company’s worth, Enterprise Value (EV) gives a fuller picture. It tells you what it would actually cost to buy the whole company, including its debt and cash position.

Here, International Breweries is quietly winning.

As of June 5, 2025, here’s how the numbers stack up:

International Breweries: EV of N1.77 trillion
Nigerian Breweries: EV of N1.75 trillion
Guinness Nigeria: EV of N246 billion

Even though Nigerian Breweries has more assets and cash, International Breweries comes out on top. Nigerian Breweries, despite its strong fundamentals, still has over N107 billion in debt, which weighs down its enterprise value.

So, who really owns Nigeria’s beer market in 2025?
In sheer market dominance, sales, scale, and distribution, Nigerian Breweries still holds the crown. It sells the most beer, commands the largest asset base, and led the industry’s return to profitability in Q1 2025.

But when it comes to investor rewards, International Breweries is winning the valuation game. It leads in market capitalization, enterprise value, and total shareholder return.

Meanwhile, Guinness Nigeria is the dark horse. Its earnings are recovering steadily, and it may soon outpace both rivals on dividend payouts, thanks to a faster cleanup of retained losses.

So, while Nigerian Breweries remains the industry heavyweight, International Breweries is winning investor confidence, and Guinness is quietly positioning itself for a dividend-led rebound.

The battle for Nigeria’s beer market is far from over, but in 2025, each brewer is winning in its own lane.

Nairametrics.com

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Top 10 Richest Yoruba Billionaires: South West Wealthiest Entrepreneurs, Key Factors Behind Their Wealth

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The Yoruba ethnic group, predominantly located in Nigeria’s southwestern region, has long been home to some of the wealthiest and most influential entrepreneurs in Africa.

Over the years, these Yoruba billionaires have made significant impacts across various sectors, including oil and gas, banking, telecommunications, real estate, and entertainment. Their business acumen and achievements have not only helped shape Nigeria’s economy but have also garnered international recognition.

Here’s a look at the top 10 richest Yoruba billionaires and the key factors behind their wealth:

10. Sulaiman Adebola Adegunwa
Sulaiman Adegunwa is a billionaire philanthropist and businessman from Ogun State. He is the founder of Rite Foods Limited, a company best known for producing popular food and beverage brands in Nigeria. His investments also extend to education, as he founded the Sulaimon College of Education in Ogun State.

9. Fola Adeola
Fola Adeola is best known as the founder of Guaranty Trust Bank (GTBank), one of Nigeria’s largest and most respected financial institutions. He is also involved in several other ventures, including heading MainOne, a telecom company, and running the FATE Foundation, which supports entrepreneurship in Nigeria. His net worth is around $550 million.

8. Dele Fajemirokun
Dele Fajemirokun is one of the most respected Yoruba business figures, with investments spanning insurance, oil, and telecommunications. He is the chairman of AIICO Insurance and a key investor in Food Concepts, the parent company of Chicken Republic. His business acumen has earned him a net worth of $500 million.

7. Samuel Adedoyin
Samuel Adedoyin is a self-made billionaire who overcame humble beginnings to become one of the wealthiest Yoruba men in Nigeria. He is the founder of the Doyin Group, a conglomerate involved in manufacturing, agriculture, and real estate. Adedoyin’s journey from small business ventures to becoming a billionaire is truly inspirational, and his net worth is estimated at $540 million.

6. Oba Otudeko
Oba Otudeko, a respected business magnate and philanthropist, is the founder of Honeywell Group, a diversified industrial conglomerate with interests in food processing, oil and gas, and real estate. He also played a pivotal role in the Nigerian banking industry, previously serving as the chairman of First Bank of Nigeria. Otudeko’s net worth is around $550 million.

5. Tunde Folawiyo
As the managing director of Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, and real estate, Tunde Folawiyo carries on the legacy of his family’s business empire. His ventures in shipping and energy are particularly notable, and he also serves on the board of MTN Nigeria. His estimated net worth is around $650 million.

4. Deji Adeleke
Dr. Deji Adeleke is a prominent businessman and philanthropist, best known as the father of the famous Nigerian musician Davido. He is the founder of Pacific Holdings Limited, a company with interests in oil and gas, real estate, and logistics. Adeleke is also an investor in education, having established Adeleke University in Osun State. His net worth is estimated at over $700 million.

3. Jimoh Ibrahim
Jimoh Ibrahim is another leading Yoruba entrepreneur who has built his fortune through diversified business ventures. He is the CEO of Global Fleet Group, a conglomerate with interests in oil and gas, insurance, real estate, aviation, and publishing. A lawyer by training, Jimoh Ibrahim’s net worth stands at around $1.1 billion, largely due to his ability to navigate various industries successfully.

2. Femi Otedola
Femi Otedola is one of Nigeria’s most recognized billionaires, primarily due to his involvement in the oil and gas industry. He is the former chairman of Forte Oil, a major petroleum marketing company in Nigeria, and his business ventures have expanded into power generation, finance, and real estate. Otedola’s investments in key sectors like shipping and energy make him a major player in Nigeria’s economy. As of 2024, his net worth is estimated at $1.8 billion.

1. Mike Adenuga
While Mike Adenuga is a Yoruba billionaire, his reach extends beyond Nigeria to the rest of Africa. He is the founder of Globacom, one of Nigeria’s largest telecommunications companies, and he also has interests in oil exploration through his company Conoil. Adenuga’s strategic positioning in telecoms and oil has made him the second-richest man in Nigeria, with a net worth of over $6 billion.

SEE THEIR NET WORTH

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FG Unveils Employment Portal, Targets 26,961 Nigerians for New Jobs

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The Federal Government has launched the online registration portal for Phase III of the Renewed Hope Employment Initiative (RHEI), with plans to train 26,961 unemployed Nigerians in 70 high-demand skills as part of efforts to tackle unemployment and boost entrepreneurship nationwide.

The programme, which will run across the 36 states and the Federal Capital Territory (FCT), is expected to commence in August 2026 after the registration process is completed.

Speaking during the launch, the Minister of Labour and Employment, Dr Mohammed Dingyadi, said the initiative is designed to equip unemployed Nigerians with practical, market-driven skills that can lead to employment or self-reliance.

He explained that the government would adopt a ward-to-ward selection process to ensure that beneficiaries are drawn from communities across the country, promoting fairness and wider participation.

According to the minister, the programme aligns with the Federal Government’s broader agenda to reduce unemployment by expanding access to vocational training and enterprise development.

As part of the initiative, the government also announced plans to resettle 3,405 outstanding graduate trainees with starter packs and work tools after completing their training.

The support package is intended to help beneficiaries establish businesses or begin careers in their chosen trades, strengthening the government’s push for sustainable job creation.

Dingyadi acknowledged complaints from beneficiaries of the earlier phases regarding unpaid stipends and delayed resettlement support.

He attributed the setbacks to funding constraints and assured participants that the ministry was working with relevant authorities to secure the release of funds needed to settle all outstanding obligations.

“I wish to assure all affected beneficiaries that this Ministry is fully aware of the matter and is working with the relevant authorities to ensure the release of the necessary funds so that all outstanding obligations can be met without further delay,” he said.

Director-General of the National Directorate of Employment (NDE), Silas Agara, said the upgraded registration portal includes new security and verification features to improve transparency and efficiency.

Applicants will be required to verify their identities using their National Identification Number (NIN), while the system will automatically prevent multiple registrations and assign applicants to training centres closest to their locations.

Agara added that persons living with disabilities would be identified during registration and matched with skills programmes suited to their needs.

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UK Lists 10 Requirements Nigerians Need To Secure Work Visa

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The UK Home Office has set out detailed requirements that foreign nationals, including Nigerians, must satisfy before they can qualify for a Skilled Worker visa.

The requirements, published on the UK government’s official website, apply to overseas professionals seeking to work in eligible jobs with approved employers across the United Kingdom.

According to the Home Office, applicants must meet employment, salary, language and documentation requirements before a visa can be granted. Additional evidence may also be requested depending on an applicant’s circumstances.

1. Have a job offer from an approved employer: Applicants must first secure a job offer from a UK employer licensed by the Home Office to sponsor foreign workers.

The employer must issue a Certificate of Sponsorship (CoS), which contains details of the job being offered.

2. Work in an eligible occupation: The job must appear on the UK’s list of eligible occupations for the Skilled Worker visa. Applicants must know the correct occupation code assigned to their role before applying.

3. Meet the minimum salary requirement: Most applicants must earn at least £41,700 per year or the “going rate” for their occupation, whichever is higher.

Most applicants must earn at least £41,700 per year or the “going rate” for their occupation, whichever is higher. Lower salary thresholds may apply for some healthcare workers, graduates, younger applicants and certain PhD holders.

4. Prove English language ability: Applicants must show they can speak, read, write and understand English. This can be done through approved English language tests or recognised educational qualifications taught in English.

5. Hold a valid passport: Applicants must provide a valid passport or another accepted document proving their identity and nationality as part of the visa application.

6. Show proof of financial support: Most applicants must demonstrate they have at least £1,270 available to support themselves after arriving in the UK unless their employer confirms it will cover those costs.

7. Pay visa fees and healthcare surcharge: Applicants must pay the visa application fee, the Immigration Health Surcharge for each year of their stay, and meet any other required charges before their application can be processed.

Partners and children of Skilled Worker visa holders may apply as dependants. Supporting a partner requires showing at least £285 in available funds, £315 for one child, and £200 for each additional child

8. Submit supporting documents: Applicants must provide supporting documents, including their Certificate of Sponsorship reference number, salary details, occupation code and employer information. Depending on individual circumstances, additional documents may also be required.

9. Provide extra certificates where required: Some applicants may need to submit additional documents such as tuberculosis (TB) test results, criminal record certificates, Academic Technology Approval Scheme (ATAS) certificates or proof of overseas qualifications.

10. Apply within the required timeframe: Applicants must submit their Skilled Worker visa application within three months of receiving their Certificate of Sponsorship from their employer.

The Home Office also advises applicants to complete identity verification and provide all required documents before a decision can be made.

Additional documents may be requested

The UK government stressed that meeting the eligibility requirements does not automatically guarantee visa approval. Immigration officials may request further documents or information to verify an applicant’s eligibility before making a final decision.

For Nigerians and other foreign professionals hoping to work in the UK, understanding these 10 requirements can help them prepare a stronger Skilled Worker visa application.

Full breakdown of the rules can be downloaded here.

 

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