Shareholders Applaud NB Plc on Strong Recovery, Improved Profitability
Shareholders of Nigerian Breweries Plc, Nigeria’s foremost brewing company, have commended the Board and Management for the compnay’ strong recovery and improved protability in the 2025 nancial year, driven by disciplined cost management and a signicant reduction in finance expenses..
The commendation was made at the company’s 80th Annual General Meeting (AGM), held at the Oriental Hotel, Victoria Island, Lagos, on Wednesday, April 22, 2026.
Speaking at the AGM, the immediate past Secretary of the Independent Shareholders Association of Nigeria, Mr. Eke Emmanuel, praised the Board and Management for steering the company through a volatile macroeconomic environment while strengthening its nancial position.
He noted that the company’s resilience, at a time when several businesses exited the country, re3ects strong leadership and a sound strategic direction.
“It is good news that we have been here for 80 years. There is no reason why we will not be here for the next 80 years with what we have achieved. To return to this level of protability and cash position shows the Board has done an enormous amount of work,” he said.
Also speaking, a member of the Noble Shareholders Association, Mr. Owolabi Opeyemi, lauded the Board and Management for navigating challenging business conditions and restoring the company’s nancial
health.
“We are proud of how the company has withstood the ups and downs of a challenging environment. The return to protability and the reversal of the negative cash position recorded in the previous two nancial years is commendable,” Opeyemi said.
In her address, the Board Chair, Mrs. Juliet Anammah, expressed condence that the company is rmly on a recovery path following the net losses recorded in the past two years due to macroeconomic pressures and scal reforms.
She thanked shareholders for their continued support and rea8rmed that the company will build on its 2025 performance as it accelerates growth ambitions.
“We have a solid foundation built over eight decades, anchored on strong portfolio of brands, an extensive nationwide sales and supply chain network, ongoing digital transformation, and mostimportantly, our people. These strengths remain critical to sustaining our leadership position,” she said.
Mrs Anammah also addressed the company’sdividend position, noting that the decision not to declare a dividend re3ects the need to rebuild retained earnings impacted by prior macroeconomic shocks, particularly foreign exchange-related losses.
“We recognise the importance of dividend payments to our shareholders and sincerely appreciate your continued understanding. While we are not declaring a dividend at this time due to negative retained earnings, we are working diligently to restore the company’s nancial position and return to dividend payments as soon as it is sustainable to do so,” she added.
She further noted that the Board remains vigilant to external risks, including the Middle East crisis and broader macroeconomic challenges, which may impact the pace of improvement in the 2026 nancial year.
A member of the HEINEKEN Group, Nigerian Breweries Plc is Nigeria's
pioneer and largest brewing company. Incorporated in 1946 as "Nigerian Brewery Limited,” the company made history in June 1949 when the rst bottle of STAR lager beer rolled out of its Lagos brewery bottling line.
Today, it has a rich portfolio of 19 high-quality brands (Heineken, Desperados, Maltina, Life, Amstel Malta, Gulder, Fayrouz, and Legend) produced from nine breweries and distributed nationwide.
Nigerian Breweries Plc is also the recipient of several awards and recognitions in other areas of its operations, including product quality, marketing excellence, productivity and innovation, health and safety, corporate social responsibility, and sustainability.