The beer industry in Nigeria continued from its unfortunate performance of Q4 2019, with the three market leaders, International Breweries, Nigerian Breweries and Guinness Nigeria suffering a nosedive, as their gross profit recorded a significant drop in the first quarter of 2020, while revenue of the first and third largest market shareholders also declined.

In the early period of this year, the top brewery companies in Nigeria had just survived the pummeling of Buharinomics (President Buhari's policies) and the hostile business environment experienced in Nigeria last year. They had dusted their hat with hope of capping a better performance this year - but little did the brewery companies know they were moving from frying pan to fire in 2020 Q1.

“The profit margin has reduced significantly. The overall pricing on alcohol has declined over the last four years. The inflationary trend has moved from 11 per cent to 12 per cent. There has been an increase in... https://allnews.ng/news/nigerian-breweries-guinness-international-breweries-move-from-frying-pan-to-fire-in-q1-2020