If the report released by Heineken on its first quarter performance report is anything to go by, Then it indicates that Despite the crisis ravaging the Nigerian economy at the moment, Nigerians are drinking even more beer.

Beer volume consumed in the first quarter has grown by 4.6%,

“Organic consolidated beer volume growth of 4.6% was driven by growth in Nigeria and Ethiopia,” says Heineken.

“Elsewhere in the region, volume was challenging and remains weak, with both affordability and lower tourism continuing to impact performance. Excluding Nigeria, volume would have been down organically for the region.

According to a Nigerian internet newspaper
“In Nigeria volume was flattered by an easy comparative given the election in the same period last year; cycling the forthcoming quarters will be more difficult.”

Heineken, which is the world's third largest beer company, says that despite these numbers, the hit on the economy is affecting them as well.

“Underlying trading conditions remain tough and the weaker consumer environment, due to the low global oil price, continues to drive negative brand mix.

“It is becoming increasingly challenging to obtain hard currency in the market, and the uncertainty regarding a possible devaluation of the Naira continues to impact the business adversely.”

Source: TheCable

Am not suprise,watchout for the forthcoming elections in some states and see the rate increase....

Torh.. Lobatan. It yaf happen