Business
SURVEY: Nigerians drank beer worth N599 billion naira from January to June 2022
SURVEY: Nigerians drank beer worth N599 billion naira from January to June 2022
Nigerians drink beer worth N599.11 billion in six months running from January t0 June 2022, according to the first quarter results of four major brewers in the country.
Champion Brew ended the First Half (H1) 2022 as the best performing company in the brewery Industry, as Nigerian Breweries and Guinness Nigeria lost market share to their rivals.
In the industry analysis of their revenue growth within January to June 2022, Prime Business Africa gathered Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew generated a combined N599.11 billion.
The turnover grossed by the four largest brewer in the country grew 31.2%, when compared to the N456.44 billion they generated during the corresponding period in 2021.
While the net profit recorded by Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew increased by 54.1%, as it rose to N36.14 billion in H1 this year, in contrast to the N23.44 billion reported in H1 2021.
The performance review is listed from least to best performing
Guinness Nigeria (28.9% growth)
“Guinness Nigeria was the least performing company in terms of revenue growth, with the company reporting 28.9% in turnover growth, which rose to N206.82 billion in H1 this year, from N160.41 billion in H1 2021.
“However, Guinness Nigeria recorded the highest growth in profit after tax, as it closed the first half of this year with N15.65 billion, which is 1146.7% year-on-year growth, when compared to the N1.25 billion of H1 2021.
Nigerian Breweries (30.9% growth)
“Despite growing its revenue to N274.03 billion between January to June this year, the 30.9% growth rate when compared to the N209.21 billion turnover of H1 last year, makes Nigerian Breweries the third best performing firm in the market.
“The management was also able to grow its net profit by 142.8% year-on-year, having reported that it made N19.08 billion in the first six months of 2022, surpassing the N11.22 billion profit after tax of H1 2021.
International Breweries (35.9% growth)
“From sales of its products, International Breweries generated N111.40 billion within six months of H1 this year, in contrast to the N81.96 billion grossed in same period last year – a difference of 35.9%.
“However, its revenue growth couldn’t prevent International Breweries net profit from a -97.5% decline, after failing to surpass the N13.88 billion profit after tax of H1 2021, as the firm reported N336.20 million net profit in the first half of this year.
Champion Brew (41.6% growth)
“While Champion Brew holds a small share of the market, the company recorded the highest revenue growth of 41.6% during the period under review, making it the best performing firm in the industry. It generated N6.86 billion, against the N4.84 billion reported in H1 2021.
“The brewer also joined Nigerian Breweries and Guinness to grow its profit after tax, reporting a 141.6% growth year-on-year, as its net profit rose to N1.07 billion in H1 2022, surpassing the N445.23 billion recorded during the same period last year.
•Source: Prime Business Africa
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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