April 24, 2024

Pathfinder News

redefining news

Nigerians Spend over N947bn Yearly On Beer

Nigeria has been ranked among the best selling countries for beer, helping companies’ producers to smile home with over N947 billion( $2.29 billion) This was disclosed in a report titled “Beer’s Global Economic Footprint” which was put together by Oxford Economics. The report ranks Nigeria in the 30 best markets for beer companies out of over 70 surveyed in the report. The oxford economics report also revealed that 70 countries controlled 89 per cent of global beer sales.

The highest-ranked country in Africa is South Africa at 18th, as the oxford researchers noted beer companies made a whopping $5 billion sales. Globally the number one beer market is US followed by China, Germany with sales of $98.4 billion, $83.2 billion and $28.1 billion. For context, the amount of money spent by Nigerians buying beer is higher than the amount spent by 12 African countries put together. Further research also showed that the $2.29 billion beer sales is higher than the GDP of nine African countries as published by trading economics. Trading economics data showed that the GDP of Gambia is $1.9, Lesotho $1.84.

Others are Cape Verde $1.7bn Guinea Bissau $1.43 Comoros $1.22 Seychelles $1.12bn South Sudan $1bn Sao Tome and Principe $0.47bn.

In another report, Kano Hisbah has destroyed nearly four million bottles of beer in its latest crackdown on alcohol. The bottles were crushed into the ground by bulldozers in the northern city of Kano in front of crowds cheering “Allahu Akbar” (God is Great).

e beers had been seized from trucks coming from mainly southern Nigeria. The officials said they rolled over 3,873,163 bottles of beer and other types of alcohol in bulldozers at a wide-open space as part of a war against intoxicants.