Shareholders of Nigerian Breweries Plc- Nigeria’s foremost brewing company- have
commended the Board and Management of the company on their efforts to return the
company to profitability amidst challenges confronting the Nigerian economy.
This position was held at the 79th Annual General Meeting of the company which took place
virtually on Wednesday, April 16, 2025.
Speaking during the meeting, the newly appointed board chair, Nigerian Breweries Plc, Mrs.
Juliet Anammah, noted that it is good to see that the decisive actions taken by the company to
deal with economic and business realities in 2024 were already yielding positive results.
Anammah who expressed profound appreciation to the shareholders for their patience, trust
and unwavering support during the challenging period, stated that although the company did
not pay dividend in the year under review, the net profitability recorded in the last quarter of
the year represents a step in the right direction and the result of the successful execution of the
business recovery plan in 2024. This has placed the company on the path that will result in the
resumption of dividend paymen in the not too distant future.
“With the success of the rights issue coupled with the return to profitability in the last quarter
of 2024, we are convinced that Nigerian Breweries is on the right path to improving its
financial position and ensuring sustainable value creation for shareholders and other
stakeholders”, she explained.
While expressing optimism about improvement in consumer spend in 2025, she noted that the
company was ready to consolidate its leadership in the market by taking advantage of any
market growth notwithstanding the aggressive competitive environment that has chracterised
the commercial beverage sector for some years now.
A shareholder, , Ahmed Batula, praised the Board for steering the company through a
turbulent period and helping to return the business to profitability.
Batula stated that the Board has demonstrated immense capacity by ensuring that both loal
and foreign debts were reduced significantly from the capital that was raised from the rights
issue.
Another shareholder, Robert Ibekwe, stressed the need for the leadership of the company to
continue to manage the business efficiently such that it can quickly return to the era of
dividend payment to its shareholders.
Siyanbola Adetutu, also a shareholder, gave kudos to the company for ensuring gender
diversity at both the Board and Management level.
