Nigerian Breweries Plc has expressed cautious optimism about the future of the commercial beverages market, anticipating a rebound in 2025. The company attributes this positive outlook to improving macroeconomic conditions, a more stable business environment, and the anticipated introduction of a restructured minimum wage, which is expected to boost workers’ earnings and, in turn, increase discretionary consumer spending.
Hans Essaadi, MD/CEO, Nigerian Breweries Plc
This sentiment was conveyed in the company’s 2024 Annual Report and Accounts, released during its 2025 Pre-Annual General Meeting (AGM) media briefing held on Thursday, April 3, 2025. In the report, the Chair of the Board, Mrs. Juliet C. Anammah, noted:
“As consumer purchasing power strengthens and market conditions improve, our position as a leading player in the consumer goods industry will allow us to capitalise on rising demand, despite the sustained intense competition that has characterized the commercial beverages sector over the years.”
Reflecting on the company’s recent performance, Anammah pointed to the successful rights issue and a return to profitability in the final quarter of 2024 as indicators of a recovery trajectory.
“We are on the right path to improving our financial standing and returning the company to sustainable profitability, with long-term value creation for our shareholders and stakeholders alike,” she added.
To navigate the challenges posed by Nigeria’s volatile economic environment, Nigerian Breweries implemented a Business Recovery Plan (BRP). According to Anammah, this plan was designed to “future-proof” the business and create a clear roadmap to profitability. A major component of the BRP was the rights issue, which received strong backing from shareholders.
The company also leaned on the strength of its committed workforce, an extensive brand portfolio, a nationwide distribution footprint, and a robust Route-to-Consumer (RTC) framework to remain resilient amid economic turbulence.
“We undertook a number of digital transformation initiatives,” Anammah said, “including the digitisation and automation of key processes within the RTC framework. These
changes have improved data quality, boosted operational efficiency, and enhanced the company’s organisational resilience.”
Mr. Alfred Iwegbue, a marketing expert, praised Nigerian Breweries’ RTC strategy, describing it as pivotal to the company’s performance in Nigeria’s highly competitive beverage market.
“The strategy hinges on intensified consumer engagement, optimised delivery systems, and leveraging both the strength of its brands and the dedication of its people,” he said.
He elaborated that Nigerian Breweries uses promotional activities, events, and digital campaigns to connect with consumers more effectively while ensuring a seamless product distribution network across the country.
From a similar viewpoint, Mr. Enoch Onuma, another marketing analyst, commended the company’s differentiated targeting strategy. According to him, Nigerian Breweries customizes its marketing efforts to suit various segments of the market while maintaining a strong focus on distribution.
He highlighted the company’s Distribution Partner Playbook, which helps to maintain world-class standards and drive revenue growth.
“By leveraging automation platforms to evaluate partner performance, the company is able to gain valuable insights and make data-driven decisions to improve return on investment,” Onuma explained.
He further noted that Nigerian Breweries supports its distribution network with capacity-building initiatives and incentives to unlock new routes to market.
A central pillar of Nigerian Breweries’ success over the years has been its culture of innovation. Anammah reported several product enhancements in the review year, including: The launch of a sleek and stylish Heineken® 45cl bottle. A new draught version of Legend Extra Stout, alongside three flavor-infused line extensions (lemon, ginger, pineapple) under the Legend Twist brand, the rollout of sleek 33cl cans for Desperados and Amstel Malta and the reintroduction of Ace Roots, a low-sugar bitters ready-to-drink beverage blending African herbs, spices, and fruits
Still going for the breweries is its sustained strong presence at major cultural and entertainment events nationwide. Its activations included, Heineken 45 Collection at Lagos Fashion Week, The Afrozons Pre-Grammy Party, sponsored by Heineken, Tiger Uncaged Parties across major Nigerian cities and Legend Twist Big Weekend Experience. His words: “Despite these hurdles, Nigerian Breweries demonstrated resilience through strategic adaptations, including a recapitalisation of the company through a rights issue described as one of the biggest and most successful offers in the country.
The managing director of the company, Mr. Hans Essaadi who spoke in the same vein said, “Despite these hurdles, Nigerian Breweries demonstrated resilience through strategic adaptations, including a recapitalisation of the company through a rights issue described as one of the biggest and most successful offers in the country.
“Our ambition is to leverage diversity, promote equity, and embed inclusion to create business value in a fast-changing and complex environment, which positively impacts our customers and consumers and benefits the company.”
Welcoming attendees earlier, Sade Morgan, Corporate Affairs Director, Nigerian Breweries, stated that the session was organised to share relevant information and strengthen the relationship with the media. Her words, “We are hosting this session as a precursor to our AGM to share with you all of the relevant information about our business and to strengthen our relationship with the media.
“We recognise that 2024 was a challenging year for business in Nigeria and for many businesses in Nigeria.
“This was a fallout of the economic slump of 2023, followed by a narrow decline, and all of this also led to a cash crunch, along with foreign exchange scarcity, high inflation, and a wealth crisis and we all lived through it.
“Despite these challenges, we shaped our organisation for transformational growth to meet the needs of our customers and consumers all over Nigeria and beyond.
“So we remain committed to our purpose and are perfectly in the joy of true togetherness and inspiring a better world,” she said
Speaking on the company’s achievements and plans on Responsibility & Sustainability Federico Agressi, Supply Chain Director, said the company will continue to key into its slogan, “Brew a Better World” with a stronger focus on three pillars- Raising the bar on climate action, accelerating its social sustainability agenda through community impact and addressing the harmful use of alcohol
They also listed some sustainability initiatives, including investments in decarbonization and tree planting at Olokomeji forest reserve. They revealed that N2.5 billion investment was made in decarbonization and over 283,904 trees were planted at Olokomeji forest reserve. They also revealed that the company was focused on addressing harmful alcohol use, as N84 million was spent on campaigns to discourage alcohol consumption among commercial drivers.
In terms of sponsorship and support of good courses in the bid to strengthen its brand portfolio and to keep in touch with the consumers, the breweries has extended its sponsorship to the Ojude Oba and Osun Osogbo festivals by Goldberg Lager, even as it also supports Afiaolu Nnewi and other New Yam Festivals in the East by Life Continental Lager.
Other notable sponsorship being carried out by the breweries include Star Radler’s curated Valentine’s event, “The Love Experience”, even as Non-alcoholic brands also had a vibrant year, featuring: The Amstel Malta Fitness Arena, Maltina’s community programs during Ramadan, Easter, Eid, and Christmas and the Maltina Inter-School Sports Competition. Also included is the Fayrouz’s participation in Lagos Cocktail Week and its “Here’s to Taste” campaign celebrating authenticity.
On strategic partnerships and recognition, the company sustained key collaborations in 2024, including: a partnership with the Nigeria Football Federation during the AFCON tournament, headlined by Goldberg and Life Continental Lager, a decade-long partnership with MultiChoice on the Africa Magic Viewer’s Choice Awards (AMVCA), championed by Amstel Malta.
These strategic alliances not only deepened consumer engagement but also reinforced the brand’s visibility across multiple platforms.
Anammah concluded by highlighting notable recognitions received in 2024, and this include the award for “Best Excise Trader” at the maiden edition of the Comptroller General of Customs Awards as well as Winner of the Overall Best Organised Safe-to-Load Programme Implementation Award from the Federal Road Safety Corps (FRSC).
All the efforts and initiatives outlined in this context, from innovative product launches and expansive cultural sponsorships to sustainability investments and strategic partnerships, underscore Nigerian Breweries’ unwavering commitment to consumer satisfaction. In a fiercely competitive beverage market, these moves are not just reactive strategies but deliberate, forward-thinking actions that speak volumes about the company’s consumer-focused ethos. Clearly, Nigerian Breweries is not just selling beverages; it is selling trust, experience, and value, thereby positioning itself as a brand deeply attuned to the evolving needs and aspirations of Nigerian consumers.
