Hans Essaadi, Managing Director of Nigerian Breweries Plc, has expressed confidence in Nigeria’s economic prospects for 2025, stating favorable macroeconomic indicators and ongoing structural reforms as key drivers of recovery.
Speaking during the company’s 79th Pre-Annual General Meeting held in Lagos, Essaadi highlighted several developments expected to positively impact inflation and overall economic stability.
According to him, inflationary pressures are anticipated to ease as a result of a high base effect, a more stable foreign exchange market, and the normalisation of energy prices following the discontinuation of fuel subsidies. He also noted that the recent rebasing of Nigeria’s Consumer Price Index (CPI) is expected to statistically contribute to lower headline inflation rates in the months ahead.
Further supporting this outlook, Essaadi pointed to the ongoing expansion of domestic refining capacity—particularly the operationalisation of the Dangote Refinery and the refurbishment of state-owned refineries in Warri and Port Harcourt. These developments, he said, would significantly reduce the burden of fuel imports on Nigeria’s foreign exchange reserves and contribute to a more balanced external payments system.
“The outlook for 2025 is tied to how effectively the government addresses key economic challenges,” he noted. These challenges, he said, include enhancing revenue generation, ensuring debt sustainability, fostering fiscal discipline, aligning monetary policy, and improving macroeconomic stability, security, and social welfare.
On the outlook for the commercial beverage industry, Essaadi expressed cautious optimism, suggesting that consumer spending may rebound in 2025. He attributed this to a potentially more stable economic environment and the anticipated implementation of a restructured national minimum wage, which is expected to strengthen disposable incomes.
“As purchasing power improves and market confidence returns, Nigerian Breweries is well positioned to capture new demand opportunities and reinforce its leadership in the beverage sector,” he concluded.
