Tolaram’s Guinness Nigeria Becomes Latest Brewer to Hit Trillion-Naira Valuation 

Guinness Nigeria has become the third brewer to join the elite club of listed companies with a market capitalisation of at least N1 trillion.

The brewer, majority-owned by Singapore-based Tolaram, saw its valuation rise to N1.01 trillion on Friday from N926.97 billion the previous day, according to data from the Nigerian Exchange Limited. 

Nigerian Breweries and International Breweries are the other brewers in the club, which now has 25 members. The group represents 17.6% of the 142 entities listed on the equities market. 

In June 2024, Tolaram signed an agreement to acquire Diageo’s 58.02% shareholding in Guinness Nigeria. Its stake later increased to 70.86% following the buyout of minority shareholders through its subsidiary NSeven Nigeria Limited.