According to a report released by Heineken on Wednesday, Nigerians are drinking more beer by volume than they consumed this time last year.
Heineken’s first quarter report showed that the volume of beer consumed by Africa, Middle East and Eastern Europe increased by 4.6% in the first quarter of the year 2016. The result also pointed out that Nigeria and Ethiopia are responsible for the increase.
“Organic consolidated beer volume growth of 4.6% was driven by growth in Nigeria and Ethiopia” the report said.
“Elsewhere in the region, volume was challenging and remains weak, with both affordability and lower tourism continuing to impact performance. Excluding Nigeria, volume would have been down organically for the region
“In Nigeria volume was flattered by an easy comparative given the election in the same period last year; cycling the forthcoming quarters will be more difficult”
Heineken, the world’s third largest brewer however noted that the state of economy in Nigeria was affecting business adversely.
“Underlying trading conditions remain tough and the weaker consumer environment, due to the low global oil prices, continues to drive negative brand mix.
“It is becoming increasingly challenging to obtain hard currency in the market, and the uncertainty regarding a possible devaluation of the Naira continues to impact the business adversely”
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