Nigerians Spend over N947bn Buying Beer, Which is More than the GDP of Lesotho, Seven other African Countries

• A new report has revealed that Nigeria is one of the best countries with the highest return on investment for beer companies
• The report shows that beer sales in the country of N947 billion is higher than the GDP of eight African countries
• Only South Africa scores higher than Nigeria, with a staggering $5 billion in beer sales and a place among the top 20

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 obtained by Legit.ng also revealed that 70 countries controlled 89 per cent of global beer sales.

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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, Arise TV reports.

Beer sales in context

For context, the amount of money spent by Nigerians buying beer is higher than the amount spent by 12 African countries put together.

These countries are Namibia, Lesotho, DR Congo, Mozambique, Uganda, Botswana, Zambia and Rwanda. In total, they spent $2.2 billion on beer.

Nigerian beer sales higher than countries GDP

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.

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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

Hisbah destroys almost four million bottles of beer in Kano

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).

The 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.

Source: Legit.ng