Anammah: 2025 is recovery year for Nigerian Breweries

Kayode Tokede

For withstanding the storm of 2023 and 2024 financial years, the new Chairman of Nigerian Breweries Plc, Juliet Anammah, yesterday in Lagos declared the 2025 financial year as a recovery year for the multinational breweries company operating in Nigeria.

While speaking with select journalists at the corporate head office of the company, she stated that 2023 & 2024 were extremely difficult years for manufacturing companies as some exited from the country, while some companies reassessed their portfolio.

She noted that Nigerian Breweries with over 70 years operating in Nigeria weather the storm by developing a business recovery plan.

She highlighted that high inflation rate and the devaluation of the naira impacted on the company’s performance for two consecutive years.

Anammah said, “We can look at our cost structure and figure out, ‘what are the things that are extremely important, and what are the things that for cost effectiveness, can be defined. What are other areas where we can say okay from the capacity perspective, let’s reduce capacity here and concentrate in other areas. Those are the kinds of decisions we had to make.

“And then, most importantly, was launching the N599.1 billion rights Issue. It was accepted by shareholders. We’re so grateful that that happened, because what that did for us was that by the end of 2024, we were then able to significantly reduce our loan portfolio, and you can see that in our first quarter financial in 2025.”

The company in Q1 2025 declared a Profit After Tax of N45 billion representing a significant increase of 187per cent relative to the N52 billion loss recorded in Q1 2024. 

Nigeria’s foremost brewing company, recorded an impressive result in the Q1 2025 financial year, with a net revenue of N383 billion, 69 per cent increase over N227billion declared in Q1 2024.

She said the future remains volatile, expressing fear over domestic and global uncertainties.

“What we don’t know is what the environment will be in the next few months.  President Donald Trump may get up and decide that he wants to raise the tariff.   We just don’t know these dynamics. But what we do know are the things that we know how to do. We know how to brew drinks. We know how to make beverages, Malt and all that and we know how to satisfy our customers. We know how to build brands that will satisfy our customers. These are things that are paramount to our strategy,” she said.