National Wire About Nigerians, Nigerian Business and Other Stories
Against all odds, the Managing Director Nigerian Breweries Plc, Mr. Hans Essaadi has said the company expects a positive economic outlook for 2025.
Speaking at the company’s 79th Pre-Annual General Meeting on Thursday in Lagos, he predicted that challenges will ease due to a combination of factors, including a higher base effect, stabilization of foreign exchange rates, and normalization of energy prices following the removal of subsidies.
According to him, the rebasing of Nigeria’s Consumer Price Index (CPI) would create statistical effects, leading to lower headline inflation figures.
“The expansion of local refining capacity, notably from the Dangote Refinery and refurbished state-owned refineries in Warri and Port Harcourt, will reduce the foreign exchange impact on energy prices.
“Additionally, a reduced reliance on premium motor spirit (petrol) imports will ease pressure on foreign reserves, creating more balance in the payments system.
“The economy’s performance will largely depend on the Government’s ability to tackle key challenges.
“These include revenue generation, debt sustainability, fiscal discipline, monetary policy coordination, macroeconomic stability, security, and social welfare,” Essaadi said.
Addressing the commercial beverage market, Essaadi noted cautious optimism about consumer spending improving in 2025.
He said this would be driven by better macroeconomic conditions, a stable economic environment, and the introduction of a restructured minimum wage to boost workers’ earnings.
As consumer purchasing power strengthens and market conditions improve, he stated that Nigerian Breweries would leverage its market position to capitalise on rising demand.
