Nigerian Breweries Plc has released its audited Group Financial Statements for the 2024 financial year, reporting an unprecedented revenue of N1.1 trillion. This marks a significant 81% increase from the N599.6 billion recorded in 2023. A breakdown of the audited results showed a remarkable 51% growth in group gross profit, rising from N212.6 billion in 2023 to N320 billion in …

Following recent news reports that one of the country’s leading breweries has obtained a licence for captive electricity plants in three cities where it has production operations, three Nigerian engineering consultants have advised the Nigerian Breweries (NB) Plc against building such a plant in Aba, Abia State. In a statement on Sunday, Engineers Ukaegbu Egege, Dikedinigbo Ejike and Uche Elugwu …

The top finalists have emerged for the 2024 Maltina Teacher of the Year competition, organised by the Nigerian Breweries-Felix Ohiwerei Education Trust Fund. The final 11  candidates  emerged out of 136 teachers who made it to the second phase of grading by the panel of judges following the first grading of 1,300 teachers who were successful out of the 1,477 …

The world’s leading breweries are investing more than N800 billion in the Nigerian Breweries (NB) sub-sector in major boosts to the country’s quest for foreign direct investments (FDIs). Regulatory documents obtained yesterday showed that foreign majority investors are injecting some N800 billion in Nigeria’s two largest brewers- Nigerian Breweries (NB) Plc and International Breweries (IB) Plc, the largest recapitalisations in …

Nigeria Breweries Plc has said “Maltina Teacher’’ at this year’s competition” will receive a N10 million reward. Corporate Affairs Director, Sade Morgan, spoke in Lagos at a media parley. In addition, she said the winner will be given a trophy, and training abroad, while his school will get a classroom block or computer laboratory. Morgan noted the platform recognises and …

The taste Nigerians are developing for spirits has attracted reviews from many market watchers. Those who saw the initial mass adoption of wines and spirits as a fleeting fad had to revise their positions when the fad began to look like an evolving culture. The spirits market is not new in Nigeria. But the dimensions and dynamism haven’t attracted the …

Shareholder associations call for full participation of Nigeria shareholders in Nigerian Breweries Rights Issue Shareholders associations in Nigeria have given their nod to plans by Nigerian Breweries Plc to raise N600 billion through Rights Issues on the back of foreign exchange exposures that precipitated a loss of N106 billion for the 2023 financial year. The company had announced at its …

Nigerian Breweries Plc has said that the final part of the transaction for the completion of the 80 per cent acquisition of Distell Wines and Spirits Nigeria Limited will be completed in the first half of the year, which is between April and June 2024. Managing Director/CEO of Nigerian Breweries Plc, Hans Essaadi stated this at the pre-Annual General Meeting …

The Nigeria Breweries-Felix Ohiwerei Education Trust Fund has announced the opening of entries for the ninth edition of the highly anticipated Maltina Teacher of the Year competition. This nationwide search for the best secondary school teacher aims to recognise and reward exceptional educators who are shaping the future of our country. Entries for the competition opened on Thursday, 25th May, …

Shareholders of Nigeria’s foremost brewing company, Nigerian Breweries Plc have unanimously approved the dividend payout of N13.87 billion for the 2022 financial year. At the 77th Annual General Meeting (AGM) of the company held at the Civic Centre in Lagos on Wednesday, the shareholders also authorised an intercompany loan of €110 million from Heineken International, which is meant to settle …