Connect with us
Maduka University Advert

Entertainment

Nigerians spend N1.54tn on beer, others in nine months

Published

on

Maduka University
Major listed brewers in Nigeria generated a combined revenue of over N1.54tn from the sale of beer and other non-alcoholic drinks in the first nine months of 2025, indicating the estimated amount spent by Nigerians on brewery products during the review period.

According to the unaudited financial statements of Nigerian Breweries Plc, International Breweries Plc, and Champion Breweries Plc for the nine months ended September 30, 2025, the companies collectively recorded strong top-line performance driven largely by beer sales.

Nigerian Breweries Plc, the largest brewer in the country, recorded net revenue of N1.05tn for the period, up from N710.87bn in the corresponding period of 2024. Cost of sales stood at N631.23bn, resulting in a gross profit of N415.15bn.

After accounting for selling and distribution expenses of N193.85bn, administrative expenses of N59.58bn, finance costs of N39.15bn, and other charges, the company posted a profit after tax of N85.51bn, compared with a loss of N149.50bn in 2024. Basic earnings per share rose to 275 kobo from a loss of 1,455 kobo in the previous year.

In March, Nigerian Breweries Plc announced a return to profitability in the first quarter of 2025, reporting a 186 per cent increase in net profit compared to the same period in 2024. The unaudited financial results released on the Nigerian Exchange Limited showed that revenue for the period ended March 31, 2025, rose to N383.6bn, representing a 68.9 per cent increase from N227.1bn recorded in the first quarter of 2024.

Advertisement

International Breweries Plc, which operates in Nigeria and other West African markets, generated revenue of N472.57bn for the nine months ended September 30, 2025, up from N343.45bn in the same period of 2024.

The company reported a profit after tax of N57.83bn, reversing a loss of N112.81bn in 2024. Cost of sales increased to N311.64bn from N248.58bn, while administrative, marketing, and distribution expenses rose to N92.09bn from N72.68bn.

International Breweries Plc posted a profit of N11.9bn for the second quarter ended June 30, 2025, marking a turnaround from a loss of N47.3bn in the same period last year. The company’s unaudited financial statements showed revenue increased to N167.4bn in Q2 2025 from N120bn in Q2 2024, while gross profit rose to N61.9bn from N33.8bn.

Champion Breweries Plc recorded revenue of N21.44bn for the nine months ended September 30, 2025, up from N14.02bn in the same period of 2024. The company posted a profit after tax of N2.05bn, compared with N21.50m in 2024. Cost of sales rose to N11.14bn from N8.13bn, while selling and distribution expenses increased to N4.24bn from N3.25bn.

Overall, the combined revenue of the three companies amounted to N1.54tn, with Nigerian Breweries Plc accounting for the bulk of sales.

Advertisement

Analysts say the figures highlight the resilience of Nigeria’s beer market, which continues to benefit from strong brand loyalty and distribution networks despite rising production costs and broader macroeconomic pressures.

Commenting on consumer behaviour, the Head of Financial Institutions Ratings at Agusto & Co., Ayokunle Olubunmi, said the market is experiencing a gradual shift in spending patterns, with some consumers reducing beer consumption, a trend influencing how breweries adjust their strategies.

“Following AB InBev’s acquisition of International Breweries, the company invested in new breweries and production facilities to expand capacity. This indicates that firms are prioritising scaling operations and improving efficiency to meet rising demand and strengthen their market position,” Olubunmi said.

On the broader economic impact, the Chief Executive Officer of Economic Associates, Ayo Teriba, cautioned that strong sales figures do not necessarily translate into greater economic contribution.

“The point is that bigger isn’t necessarily better. Sales may be boosted by size, but if that size reflects purchases from other companies rather than actual value added, the contribution to the economy is limited. What really matters is net output, what value the company is actually creating. GDP, after all, is the sum of value created, not just total sales figures,” Teriba said.

Advertisement
Source: PUNCH
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment

Veteran Actor Olu Jacobs Dies at 84

Published

on

Maduka University

Veteran Nigerian actor and film executive Oludotun Baiyewu Jacobs, popularly known as Olu Jacobs, has died at the age of 84.
His son, Olusoji Jacobs, announced his death in an Instagram post on Wednesday, describing him as “The Lion of Lufodo.”
Olusoji said the family was grateful to God for the life their father lived and appealed to bloggers and social media influencers to respect the family’s privacy.
Olu Jacobs was one of Nigeria’s most respected veteran actors, with a career spanning theatre, television and film.
Born on July 11, 1942, Jacobs trained at the Royal Academy of Dramatic Arts in London. He began his acting career in British television before featuring in international productions and later returning to Nigeria, where he established himself as a major figure in the country’s film industry.
He appeared in numerous Nigerian films and was recognised with several industry honours, including the Industry Merit Award at the Africa Magic Viewers’ Choice Awards and a Lifetime Achievement Award at the Africa International Film Festival.
Jacobs was also involved in film production and the development of the performing arts in Nigeria. Alongside his wife, veteran actress Joke Silva, he was associated with the Lufodo Group.
His death marks the loss of one of the most recognisable figures in Nigeria’s entertainment industry.

Continue Reading

Entertainment

Poco Lee Granted Bail in UK Ahead of September 15 Court Hearing

Published

on

Maduka University

Nigerian dancer and entertainer Iweh Odinaka, popularly known as Poco Lee, has been granted bail in the United Kingdom ahead of his scheduled appearance at Snaresbrook Crown Court on Tuesday, September 15, 2026.

According to court information, Odinaka was granted bail on September 11, with a plea and trial preparation hearing scheduled for September 15.

“The Defendant has been granted bail on the 11th September 2026,” the court stated, adding that “There is a plea and trial preparation hearing on the 15th September 2026.”

The bail decision clarifies the entertainer’s current custody status following earlier reports about his release.

However, the granting of bail does not mean the criminal proceedings have been discontinued or that the allegations against him have been resolved.

Advertisement

The Crown Prosecution Service had previously confirmed that the case remained active and that Odinaka was due to appear before Snaresbrook Crown Court.

Odinaka is facing five sexual offence charges, including attempted rape, two counts of rape and two counts of assault by penetration.

He has denied the allegations and maintained his innocence. The charges remain before the court and have not been determined.

In a video shared on Instagram by social commentator Martins Otse, popularly known as VeryDarkMan, Poco Lee said he remained confident because he knew he had not committed the alleged offences.

He said: “If I were inside there and I did what I was accused of, I would have felt I was paying for my sins, but since I knew I didn’t do what I was accused of, my mind is pure.”

Advertisement

The case followed Poco Lee’s visit to the UK for the Davido and Friends concert at the Crystal Palace Bowl in London on August 14, 2026.

Poco Lee has not been convicted of any offence. His next court appearance is scheduled for Tuesday, September 15, 2026.

Continue Reading

Entertainment

Davido Reveals How Dangote Drove His Mother Home 

Published

on

Maduka University

Afrobeats superstar David Adeleke, popularly known as Davido, has revealed a long-standing relationship between his family and Nigerian billionaire businessman Aliko Dangote.
Speaking in a recent interview, Davido said Dangote personally drove his mother home from the hospital after she gave birth to him.
“Aliko Dangote drove my mom home from the hospital when she gave birth to me.”
Davido explained that Dangote has maintained a close relationship with his family for decades, particularly with his father, businessman Adedeji Adeleke.
According to the singer, Dangote has also offered him financial advice since he was a child, repeatedly encouraging him to save and manage his money wisely.
“Anytime I see him, he still tells me, ‘David, save your money.’ He’s been saying that since I was a baby.”
The singer said the billionaire’s advice has remained valuable throughout his career in the entertainment industry.
Davido also spoke about his perception of wealthy people, saying billionaires are ordinary people despite the enormous wealth they possess and that their private lifestyles are often different from how the public imagines them.
He described his relationship with Dangote as one that dates back to his childhood and continues to this day.

Continue Reading

Entertainment

Agulu Chimezie – Nne Agulu Bia

Published

on

By

Maduka University

AGULU CHIMEZIE Releases New Single Titled “NNE AGULU BIA”

 

Artist: Agulu Chimezie

Real Name: Chimezie Ibezim

Song Title: Nne Agulu Bia

Advertisement

Producer: Mr Wanga

Location: Nigeria

Native: Agulu, Anambra State, Nigeria

 

Nigerian recording artist Agulu Chimezie, born Chimezie Ibezim, has released his latest song titled “Nne Agulu Bia.” The new release adds to the growing catalogue of the talented artist, who has previously released several songs and continues to make his voice heard through music.

Advertisement

 

Nne Agulu Bia is a song that proudly reflects the artist’s connection to Agulu in Anambra State, celebrating his roots, identity, culture and the spirit of his people.

 

The song which storyline reflects to how our Ancestor traveled from Agulu to foreign land and later came back home peacefully

 

Advertisement

The song was produced by talented music producer Mr Wanga, bringing together a distinctive sound and musical production that complements Agulu Chimezie’s artistic style.

 

With several songs already to his name, Agulu Chimezie is steadily building his presence in the Nigerian music scene, using his music to connect with listeners both at home and beyond.

 

“Nne Agulu Bia” is now available on various digital music platforms, giving fans and music lovers the opportunity to stream and enjoy the latest release.

Advertisement

 

About Agulu Chimezie

 

Agulu Chimezie, whose real name is Chimezie Ibezim, is a Nigerian artist and a native of Agulu, Anambra State. Through his music, he continues to showcase his creativity while representing his roots and contributing to the growth of Nigerian music.

 

Advertisement

Listen, Stream & Support

 

Music lovers are encouraged to search for Agulu Chimezie – “Nne Agulu Bia” on major digital music platforms, stream the song, share it with friends and family, and support the artist by following his musical journey.

 

Agulu Chimezie — “Nne Agulu Bia”

Advertisement

Produced by Mr Wanga

Out Now on Digital Platforms.

 

DOWNLOAD AND ENJOY BELOW 👇

Download Now

Advertisement
Continue Reading

Entertainment

Ugo Oswald: Using Music as a Vehicle for Truth, Culture and Social Responsibility

Published

on

Maduka University

By Our Reporter

For Ugo Oswald, music is much more than entertainment. It is a responsibility—a vehicle through which artists can educate, influence, preserve culture and communicate important truths to society.
The multidisciplinary artist, author and songwriter believes music should carry messages that are meaningful, age-appropriate and rooted in the customs and values of the people.
“I believe that music is more than a sound. It’s a responsibility to the audience to influence, teach and share through age-appropriate storytelling, in the customs of our people,” Oswald said.
According to him, an artist has a solemn responsibility to confront society with the truth, mobilise communities towards communal living and promote values that strengthen society.
For Oswald, the genre is secondary to the message.
“We can rock it, ragga it, blues it, hardcore it, or simply oja it, to get the story across,” he said.
His approach to songwriting is also informed by his belief that music can communicate on several levels. He describes music as a “solid code” in which lyrics can contain deeper meanings beyond their immediate interpretation.
“I believe that music is a solid code, on two levels, or three levels, making lyrics deeper than what they seem to say,” he explained.
From Behind the Scenes to Songwriting
Although Oswald has only recently begun putting his own lyrics together in earnest, his relationship with music and the creative industry goes back many years.
A native of Ohaozara in Ebonyi State, he was involved in the music and entertainment scene during his university years, working largely behind the scenes.
He recalls being around the industry during the era of artistes such as McLoph, Ill Bliss, Obiwon and BigLo.
His experience also brought him into contact with some of the leading voices of the Nigerian music industry. While serving as a programme officer at the newly established NTA Asaba, Oswald granted Flavour, popularly known as Ijele, his first television interview.
Those experiences, he says, helped shape his understanding of music not merely as performance, but as a powerful medium for communication and social influence.
Today, Oswald sees himself primarily as a songwriter and music production operative rather than simply as an artiste.
His creative interest is centred on developing songs and productions capable of carrying substantial messages while remaining accessible to different generations.
Music With a Social Message
Oswald’s second album, Who Love Nigeria, reflects this philosophy.
The project explores family, history, anthropology, politics and African consciousness through a blend of conscious root rock reggae, dancehall, Afro-pop soul remix and alternative rock.
Rather than restricting himself to one musical style, he experiments with different genres in an effort to create what he describes as new paradigms for communicating deep messages about society.
Issues including conservation, governance and everyday living feature prominently in his creative worldview.
For Oswald, the power of an artist comes with an obligation to use that influence responsibly.
He is particularly passionate about positive and clean lyrics that can be enjoyed by families and audiences of different ages.
His philosophy challenges the notion that commercially successful music must necessarily sacrifice substance for entertainment. Instead, he believes music can be entertaining while simultaneously educating, preserving cultural identity and encouraging responsible citizenship.
A Multidisciplinary Creative
Beyond music, Oswald is a trained artist, brand and innovation expert, growth and marketing professional and author.
His multidisciplinary background informs his approach to creativity, allowing him to view music not only as an artistic expression but also as a tool for communication, branding, cultural preservation and social engagement.
He describes himself as a father, husband and “coffee-guzzling citizen”—a description that reflects the blend of creativity, family and everyday life that runs through his work.
As he develops his songwriting and production career, Oswald’s central message remains clear: music should do more than make people listen.
It should make them think, learn, remember, question and, where possible, act.
For an artist from Ohaozara in Ebonyi State who has spent years working around the music and media industry before stepping further into songwriting, the journey appears to be less about becoming another performer and more about finding new ways to use sound, words and culture to tell stories that matter.

Continue Reading
Advertisement

Trending