Guinness Nigeria has unveiled the latest addition to its brand portfolio, Guinness Smooth, at a vibrant launch event held at the prestigious Wattbridge Hotel in Uyo.
The occasion brought together consumers, vendors, entertainers, and notable personalities, including Guinness World Record holder in Radio Broadcasting, George Essien, popularly known as Mighty George.
Guests enjoyed an unforgettable evening filled with music, entertainment, and ice-cold Guinness Smooth, described as a refreshing and easy-drinking stout with a distinctive fruity and butterscotch flavor.
Many attendees commended the new variant, noting that its smooth and mild profile make it especially appealing to younger consumers.
Speaking at the event, Odinakachi Njoku, Brand Manager, Guinness, noted that Guinness Smooth represents both innovation and heritage. “Guinness has a long-standing presence in Nigeria and across Africa. The relaunch of Guinness Smooth is part of our innovation journey to expand the Guinness family. Choosing Uyo, with its rich culture, vibrant nightlife, and energetic youth population, is our way of celebrating the people and strengthening our relationship with them,” Njoku stated.
Njoku further emphasized Guinness Nigeria’s commitment to responsible drinking and its support for local economies by working with vendors, event organizers, and entertainers.
Also speaking at the event, Carl Mbagwu, Head of Division, East, Guinness Nigeria, highlighted the unique qualities of Guinness Smooth. “Guinness Smooth stands out for its smoothness, rich taste, and easy-drinking nature compared to the classic Guinness Stout.
Guinness Nigeria has unveiled a variant of Guinness Smooth at Wattbridge Hotel in Uyo. Consumers, entertainers, and top personalities, including Guinness World record holder, George Essien (Mighty George), were present.
Guests enjoyed the music, entertainment, and ice-cold Guinness Smooth, described as a refreshing and easy-drinking stout with a distinctive fruity and butterscotch flavour.
Attendees lauded the variant, noting that its smooth and mild profile make it appealing to younger consumers. Odinakachi Njoku, Brand manager, noted that Guinness Smooth represents innovation and heritage. “Guinness has a long presence in Nigeria and Africa. The relaunch is part of the innovation to expand the Guinness family. Choosing Uyo, with its rich culture, vibrant nightlife, and youth population, is our way of celebrating the people and strengthening relationship with them,” he said.
Njoku stressed Guinness Nigeria’s commitment to responsible drinking and its support for local economies by working with vendors, event organisers, and entertainers. Carl Mbagwu, head of Division in East, noted Guinness Smooth’s unique qualities. “Guinness Smooth stands out for its smoothness, rich taste, and easy-drinking nature compared to the classic Guinness Stout. Uyo is a key market for growth and engagement, and this launch demonstrates our commitment to connecting with consumers at cultural and community levels,” Mbagwu said.
The launch of Guinness Smooth in Uyo builds on the product’s growing success across Nigeria, while also reinforcing Guinness’ legacy as a brand that celebrates togetherness, enjoyment, and culture.
Guinness Nigeria Plc has appointed Mrs. Vivien Shobo as independent non-executive director. She will resume on September, 1.
A statement Guinness said Mrs. Shobo, chief executive officer of FVS Advisory Partners, brings a wealth of experience and expertise to the board.
From September 2003 to December 2019, she was chief executive officer of Agusto & Co., Pan African credit rating agency, and a provider of economic and industry research in Nigeria and sub-Saharan Africa.
Under her leadership, Agusto & Co. fortified its position as a leading credit rating agency and diversified its product and revenue base.
A Fellow of Institute of Chartered Accountants of Nigeria (ICAN), Mrs. Shobo holds an MBA in Finance from Manchester Business School in United Kingdom.
She honed her skills through management and leadership programmes at Harvard Business School, Wharton Business School, and Lagos Business School.
Mrs. Shobo is a financial analyst with excellent reputation and a track record of achievements.
She possesses sound knowledge of macroeconomic expertise in economic research, having overseen production of industry reports in banking, oil and gas, power, and manufacturing.
Mrs. Shobo is a lifetime member of WIMBIZ (Women in Management, Business and Public Service), a non-profit organisation that, over the last 20 years, implemented programmes to inspire, empower, and advocate for greater representation of women in leadership positions.
Additionally, she is a member of International Women’s Society and Nigerian Chartered Institute of Directors (CIoD).
In a statement by the company, it said: ‘‘The Board and Management of Guinness Nigeria are excited at having Mrs. Shobo join the board and look forward to contributions she will bring to the company for the benefit of shareholders and other stakeholders.’’
Guinness Nigeria Plc financial results for the twelve months ended 30th June 2024 has shown robust performance amidst a challenging macroeconomic environment.
According to data obtained from its results, the company recorded a remarkable +31% year-on-year revenue growth, a strong performance even more pronounced in the second half of the year, with revenue growth accelerating to 41%, up from 20% in the first half.
The revenue growth was driven by an optimized category mix, innovative offerings, and targeted price increases to offset rising costs. Non-Alcoholic Malt, Ready-to-Serve beverages, and International Premium categories demonstrated resilience, recording notable growth compared to the previous year. The company also intensified its trade and consumer engagement efforts through digital platforms, activations, and captivating brand visibility.
Despite these accomplishments, the company faced increased cost of sales, which rose by 37% due to inflation-driven hikes in raw material prices, unprecedented utility cost increases, and currency devaluation. Nonetheless, operating profit rose by 9%, propelled by strong revenue performance and intensified productivity gains across the organisation.
Managing Director of Guinness Nigeria, Adebayo Alli, expressed confidence in the company’s trajectory: “We are extremely proud of our team’s ability to deliver such strong financial performance amidst significant macroeconomic headwinds. Our strategic focus on category mix optimization, innovative product offerings, and targeted price adjustments has been key to navigating these challenges and driving growth. Looking ahead, we are committed to our mission of transforming Guinness Nigeria with a strong focus on winning differently as we move into FY25. We will continue to leverage digital innovation, deepen our consumer engagement, and invest in our people and brands to ensure sustained growth and value creation for our stakeholders.”
The continued currency devaluation posed significant challenges, with the spot rate moving from N759.03/$1 at the start of the year to N1,540/$1 at the end of the financial year. This resulted in a substantial unrealised forex loss and a loss before tax of N73.68billion. Despite these challenges, the Board remains confident in the company’s well-crafted strategy.
The Chairman of the Board of Directors, Guinness Nigeria, Plc, Dr. Omobola Johnson stated: “We remain committed to continuously evaluating our strategy against the evolving business landscape to ensure we deliver returns to our shareholders and create long-term value for all stakeholders. Our performance this year demonstrates the resilience and adaptability of our business in the face of economic challenges.”
Managing Director of Guinness Nigeria Plc, Adebayo Alli, has said the company is not planing to leave the country.
Alli noted the Guinness is improving despite challenges.
He hailed the firm’s trade partners for their collaboration towards its objectives, which have sustained its growth.
Alli spoke at a two-day event to mark Guinness Nigeria Trading Year 2024, which featured a conference/business meeting, gala and award night, at Eko Convention Centre, Lagos.
He applauded the partners, drawn from for their doggedness, despite challenging economic climate, saying Guinness has continued to experience exponential growth.
The managing director unveiled Guinness Nigeria’s new mission: “GN Transformed: Winning Differently,” allaying fears it may leave Nigeria.
Alli said: “We want to thank our partners for dedication to our business this past year.
“We know it hasn’t been smooth sailing, but your support has sustained our growth.
“Despite a challenging economic climate with inflation, currency issues, and lower consumer spending, Guinness Nigeria has grown.
“Moving forward, we will work with our partners to create products for Nigerians…’’
Introducing the mission statement for 2025, Commercial Director, Olusanya Adesanya, noted: “Guinness does not win alone. We win with our partners, customers, consumers, and communities.”
Adesanya said the mission reflects Guinness’ commitment to innovation, customer-centricity, resilience, empowerment, and growth.
Highlight of the awards was recognition of trade partners and employees.
Top performers received cash for their sales achievements and performance.
Among awards presented was CEO Award for Employee of the Year, won by Head of Commercial Finance, Mrs. Chinenye Alawode. Dr. Edmond Okafor of Eddinho Nig, was named Overall Best Distributor.
Nigeria, a vibrant nation woven from over 300 ethnicities, finds a powerful unifier in football. For over a decade, Guinness has fuelled this passion, carefully curating unforgettable football experiences.
The premium beer brand, Guinness, has unified people though it’s power of goodness and communion and has been a catalyst behind some of the best football moments to life in shared optimism. Guinness saw not just a game, but a beating heart, a chance to unite this diverse nation under the banner of the beautiful game. In 2013 the brand, in a record-breaking feat unveiled the world’s largest Nigerian jersey – a powerful symbol of unwavering support for
the Super Eagles. This wasn’t just a jersey; it was a battle cry.
Guinness knew support went beyond a giant piece of cloth. They launched the “Fly With the Eagles” campaign, whisking 200 lucky fans on an all-expenses-paid trip to cheer on the Nigeria team in South Africa. The roar of the crowd, the shared hope, the electrifying energy – it was a journey etched in memory, culminating in a glorious victory – the AFCON 2013 trophy hoisted high!
The love for football, particularly the Premier League, burns bright in Nigeria. Guinness recognized this and became the official broadcast partner with Multichoice/SuperSport. Every electrifying goal, every nail-biting save, was beamed directly into homes across the nation, but the story doesn’t end there.
“Every Minute Made of More” consumer promotions and celebratory ad campaigns kept the excitement bubbling throughout the 2015 football season.
Guinness wasn’t just about the big leagues, but also believed in nurturing local talent. In 2017, an icon walked onto Nigerian soil – Thierry Henry. His presence ignited a fire in young players’ hearts, a testament to Guinness’ commitment to growing the beautiful game from the roots up. The following year (in 2018), Guinness partnered with Rio Ferdinand, another legend celebrating the unwavering spirit of Nigerian fans with a country wide tour – a spirit truly “Made of More.”
Fast forward to 2019. Guinness wasn’t satisfied with just watching the game; they wanted fans to experience it. Enter Guinness Night Football – a multi-sensory extravaganza of nighttime five-a-side matches across Uganda, Kenya, Cameroon, and of course, Nigeria. This wasn’t just any tournament; it was a celebration of passion, featuring teams battling it out under the floodlights, culminating in a final night in Lagos with celebrities like Rio Ferdinand and others not just cheering but joining in the five aside games with fans. The night wasn’t complete without the electrifying performances of top African artists, blending music and football for a memorable experience that resonated deep within the soul.
Post pandemic, Guinness remained steadfast. They renewed their partnership with SuperSport, ensuring Nigerians wouldn’t miss a single Premier League moment. What more you would ask? In 2022, in the spirit of fandom, Guinness surprised 20 superfans with a trip to witness the magic of the EPL live in London.
Because fans deserve more, Guinness Matchday, launched in September 2023 to deliver epic live football viewing experience to fans across major cities in Nigeria in events with Giant screens, 360 surround sound and supercharged celebrations of culture through Music and Fashion.
The resounding success of the event transcended simply watching the game. It was about immersing yourself in the atmosphere, the shared passion, and the electricity of live football. Over 500,000 fans were directly reached, with a staggering 1.4 million live radio community tuning in weekly to the Guinness Matchday Review Radio shows. The digital footprint exploded, reaching an incredible 61 million and generating 11.5 million engagements.
Guinness’ commitment extends beyond one-off events. Partnerships with giants like MTN and Showmax ensure fans enjoy data discounts and free access to live matches, extending the reach of the beautiful game further than ever before. This dedication to creating unforgettable experiences is what truly sets Guinness apart. Understanding that football is more than just a game; it’s a shared passion that binds Nigerians together.
This is just one chapter in the incredible story of Guinness and Nigerian football fandom. Looking to the brighter future, weaving the magic, stitching football even deeper into the very fabric of Nigerians, Guinness announced its first-ever four-year global football partnership with the Premier League to kick-off 2024/25 season.
Guinness will use its distinctive marketing, creative advertising, and history of activating world-class sports sponsorships to create fun and engaging fan experiences. The partnership will look to continue to support and uplift the football community, on and off the pitch, and inspire new connections between its own consumers and passionate Premier League fans in Nigeria and around the world.
The management of Guinness Nigeria Plc has denied rumour that it is exiting Nigeria.
The organization in a statement yesterday said it remains firmly rooted in Nigeria and has no plans to leave.
The statement reads: “Guinness Nigeria Plc wishes to correct the recent speculations and false/malicious misinformation alleging a plan to exit from the Nigerian market. Contrary to rumors being peddled on various media platforms, Guinness Nigeria remains firmly committed to its operations in Nigeria and is poised for a new phase of growth and innovation.
“Since commencing operations in April 1950, Guinness Nigeria boasts of a proud and eventful 74-year legacy intricately woven into Nigeria’s cultural and economic fabric. Our unwavering commitment to Nigeria is evident in the substantial investments in infrastructure, employment, backward integration and our community development and social responsibility initiatives. The recent announcement of the partnership between Diageo and Tolaram Group further reinforces unequivocally that Guinness Nigeria remains committed to Nigeria and has no intention of exiting the dynamic Nigerian market. Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.”
Under the partnership announced, the statement said Tolaram Group will acquire a 58.02% majority stake in Guinness Nigeria, enabling us to harness and leverage Tolaram Group’s extensive expertise in manufacturing and distribution. “Importantly, Guinness Nigeria will retain its status as a listed company on the Nigerian Stock Exchange, maintaining its prime status in the Nigerian beverage industry. Diageo’s establishment of a wholly-owned international premium spirits company in Nigeria is also a noteworthy demonstration of its continuing dedication to sustaining its operations across West and Central Africa, with Nigeria as a pivotal operational hub.
“Under a long-term license and royalty arrangement, Guinness Nigeria will continue to produce and sell all our iconic brands including Guinness FES and Smooth, Smirnoff Ice, Orijin Bitters, and Malta Guinness as well as Diageo MSS brands like Smirnoff X1, Gordon’s Moringa and Captain Morgan Gold Rum, ensuring our esteemed consumers nationwide continue to enjoy their favorite beverages. We are excited to embark on this new chapter of growth and development in Nigeria.”
Diageo, the foreign majority shareholder in Guinness Nigeria Plc, has agreed to sell its controlling equity stake of 58.02 per cent to Tolaram, a Singaporean multinational.
Under the terms of an agreement signed on Tuesday, Tolaram will acquire Diageo’s 58.02 per cent shareholding in Guinness Nigeria and enter into long-term license and royalty agreements for the continued production of the Guinness brand and its locally manufactured Diageo ready-to-drink and mainstream spirits brands.
By acquiring 58.02 per cent, Tolaram will also undertake a mandatory tender offer to seek to acquire shares held by minority shareholders, in a transaction that could increase the new core investor’s controlling stake.
In a regulatory filing at the Nigerian Exchange (NGX), the board of Guinness Nigeria indicated that the transaction is expected to be completed in 2025, subject to obtaining the requisite regulatory approvals in Nigeria.
“Diageo remains deeply committed to Nigeria and will retain ownership of the Guinness brand, which will be licensed to Guinness Nigeria for the long-term, enabling the next phase of growth and development of Guinness Nigeria under the stewardship of Tolaram,” Guinness Nigeria stated.
With a five-decade presence in Africa, Tolaram is one of the largest consumer packaged goods companies on the continent and has forged joint venture partnerships with several leading consumer multinational companies.
Guinness Nigeria noted that in partnership with Tolaram, Diageo will continue to drive the brand and marketing strategy for Guinness in Nigeria, to ensure Diageo’s exceptional capabilities in brand building and innovation continue to drive long-term growth for Guinness in Nigeria.
According to the plan, following completion of the transaction, Guinness Nigeria will remain listed on the NGX. However, recent acquisitions have led to full takeover and delisted of companies.
Chairman, Guinness Nigeria, Omobola Johnson said the acquisition announcement represents a significant opportunity for the next phase of growth for Guinness Nigeria.
“This partnership brings together Tolaram’s deep expertise in manufacturing and distribution, and Diageo’s exceptional capabilities in brand building and
innovation. I believe this is a winning combination which leaves Guinness Nigeria extremely well placed to drive further growth in this market,” Johnson said.
Managing Director, Guinness Nigeria, Adebayo Alli, described the announcement as an exciting moment for Guinness Nigeria, its employees and customers.
“I look forward to working alongside Tolaram, which is one of the largest and most respected consumer goods companies in Africa, and I am pleased to note Tolaram’s alignment with Guinness Nigeria’s values and its strong commitment to build an enduring and sustainable business,” Alli said.
Managing Director, Tolaram Africa, Haresh Aswani said the group was thrilled to welcome Guinness Nigeria, a company with such a rich legacy and strong consumer loyalty.
“This strategic move will expand our significant
footprint in the Nigerian market and presents an opportunity to leverage our combined strengths to foster innovation and deliver immense value to our customers and shareholders across the nation,” Aswani said.
Guinness Nigeria PLC, a leading beverage company dedicated to sustainable community development, proudly announced the successful completion and commissioning of Phase II of Guinness Way (formerly known as Iyoha Road) in the Oregbeni community, Benin, Edo State.
This significant milestone was celebrated in the presence of Edo State Government dignitaries, community leaders, and representatives from Guinness Nigeria, symbolising the company’s steadfast commitment to enhancing infrastructure and fostering socio-economic progress in its host communities.
Guinness Way Phase II is a 500-meter asphalt road and major concrete drainage project with an investment of over N500 million, representing the second phase of a comprehensive community development plan initiated by Guinness Nigeria.
This road is part of a 1.1km stretch beside the Guinness Brewery, and serves as a critical link for Oregbeni residents, providing improved access to essential services and economic opportunities.
Guinness Nigeria Plc, a foremost total beverage alcohol company in Nigeria and a subsidiary of Diageo Plc., released its unaudited financial results for the nine-month period, ended, 31 March 2024, revealing both resilience and adaptability in navigating a turbulent economic landscape.
In a year marked by unprecedented challenges, Guinness Nigeria delivered a commendable 28% year-on-year revenue growth, reaching ₦220.3 billion compared to ₦172.47 billion in the same period last year.
This notable surge was particularly pronounced in Q3, with a remarkable 44% acceleration, signifying a strategic pivot amidst evolving market dynamics.
Despite grappling with soaring inflation rates, currency devaluation, and escalating food insecurity, Guinness Nigeria demonstrated remarkable resilience, leveraging proactive pricing strategies and optimised product offerings, focusing on premium categories to sustain growth momentum.
The company also intensified its focus on consumer engagement and trade support, leveraging its digital platforms. Notably, categories such as Non-Alcoholic Malt, Ready-to-Serve beverages, and International Premium Spirits witnessed substantial revenue growth, underscoring the effectiveness of these strategies.
In line with its revenue growth, operating profit surged by 27%, reaching ₦ 22.21 billion fuelled by the strong revenue performance and intensified drive for productivity across the organisation despite extreme inflationary tensions.
However, amidst these triumphs, challenges persisted, notably in the form of significant unrealised forex losses amounting to ₦81 billion. This was attributable to the continued devaluation of the Naira, closing the quarter at N1,351/$1.
Despite this setback, recent trends suggest a reversal, with the Naira exhibiting signs of stability in recent weeks, offering a glimmer of hope for potential exchange rate gains in the last quarter of the fiscal year.
Looking ahead, the Board remains confident in the company’s well-crafted strategy. The Board is committed to continuously evaluating this strategy in response to the evolving business landscape, to deliver returns to its shareholders and create long-term value for all stakeholders.
Adebayo Alli, Managing Director/CEO, Guinness Nigeria Plc., said: “While the current macroeconomic environment will continue to present challenges, I am confident in the resilience of our business and our ability to navigate the volatility. Our focus remains steadfast on innovation, and stepping up operational excellence to meet our consumers’ evolving tastes and preferences. Led by our strategic vision that prioritises long-term sustainability and shareholder value, we are poised to emerge even stronger.”
