Nigerian Breweries Warns Global Unrest May Drive FX Risk and Inflation Surge

Nigerian Breweries has cautioned that recent global instability threatens Nigeria’s foreign exchange market and could push inflation even higher. Speaking ahead of its pre-AGM presentation, the company’s MD noted that Middle East tensions sent crude prices above $100 in Q1, driving up petrol and diesel costs. Continued volatility risks FX shortages, supply bottlenecks and further price pressures. The brewer reported a strong 2025 performance, with group revenue up 35% to N1.5 trillion and net profit of N99 billion, reversing losses from 2023 and 2024. An 83% cut in finance expenses after its rights issue helped deleverage the balance sheet. Management urged the government to unlock financing for farmers and promote import substitution to tap Nigeria’s vast potential and support future dividend payments.

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