Nigeria overtakes the USA in Guinness consumption volume

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Guinness Nigeria Made Appropriate Remittances to Nigerian Custom Services

Nigeria has overtaken the USA as the third-largest market for Guinness as Diageo pushes the black stuff internationally.

The US is the fourth-largest consumer of Guinness, with Cameroon fifth. Kenya and Ghana came 6th and 7th respectively.

Contrary to popular belief, however, the Irish are not the biggest consumers of Guinness.

As a matter of fact, Ireland ranks only third in the world, as far as Guinness consumption is concerned.

Nigeria overtakes the USA in Guinness consumption volume - Brand Spur

In its’s half-year result released, the maker of Johnnie Walker whisky, Guinness beer and Smirnoff vodka reported a net profit of 3.16 billion pounds ($3.94 billion) for the year ended June 30 compared with 3.02 billion pounds a year earlier, on net sales that rose 6% to GBP12.87 billion.

In terms of regions, Africa delivered 7% net sales growth, with growth across East Africa, Africa Regional Markets and South Africa partially offset by a decline in Nigeria.

In East Africa and Africa Regional Markets net sales grew 13% and 8%, respectively, driven by growth across both beer and spirits. East Africa partially benefitted from lapping prior-year weakness in the first half. Net sales grew 6% in South Africa driven by growth in spirits.

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Nigeria net sales declined by 7% driven by the continued tough economic and competitive environment in the Lager segment. Across Africa, beer net sales were up 5% driven by double-digit growth in Senator Keg, Serengeti Lite, and Malta Guinness, partially offset by declines in Satzenbrau. However, Net sales grew in malta Guinness, Guinness and Spirits.

Marketing investment increased by 3% largely driven by up-weighted investment in Tusker marketing activities and media campaigns, the relaunch of Guinness Foreign Extra Stout, an evolution of Guinness’s successful football campaign across Africa, led by Guinness brand ambassador Rio Ferdinand, and the continuation of Serengeti’s sponsorship of the Tanzanian national football team.

In the year ended 30 June, 2018 a rights issue was completed by Guinness Nigeria (GN) where Diageo’s controlling equity share in GN increased from 54.32% to 58.02%. The transaction resulted in a credit of £31 million to non-controlling interests and a charge of £5 million to reserves.