Nigerians love to drink alcohol, especially beer.
According to the latest publicly available market research report by Canadean (now known as Global Data), a data intelligence platform, Nigeria led other African nations as the largest beer consumer. With an average beer consumption of 12.28 litres per person per year, Nigeria is followed by Uganda (11.93 litres) and Botswana (7.96 litres). Due to our large population size (over 200 million), this translates into higher volumes of beer consumed per year.
Key takeaways:
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Nigerian love for alcoholic beverages has sustained the growth in the brewery sector, as the Food, Beverage and Tobacco industry had been growing until Q3’22.
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Nigeria’s largest brewer—Nigerian Breweries (NB), raised prices in 2021 to support revenue growth and cushion the impact of rising costs.
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The third quarter of 2022 was particularly challenging for brewers as demand fell due to flooding and high inflation.
Moreover, of Nigeria’s $6.5 billion
