Nigerian Breweries Plc has announced the retirement of its Sales Director, Emmanuel Oriakhi, effective November 10, 2026, after more than 23 years with the company and its parent group, HEINEKEN.
The company disclosed this in a corporate notice filed on the Nigerian Exchange (NGX) website on Thursday.
Oriakhi joined Nigerian Breweries in 2003 as a Commercial Management Trainee and rose through various marketing, commercial and sales leadership positions in Nigeria and internationally.
Emmanuel Oriakhi retires after 23 years
In its disclosure, Nigerian Breweries notified the Exchange and the investing public of Oriakhi’s departure after more than two decades with the company and HEINEKEN.
The company said his retirement took effect on Tuesday, November 10, 2026.
- “Nigerian Breweries Plc (Nigerian Breweries or the Company) has announced the retirement of its Sales Director, Emmanuel Oriakhi, from the effective Tuesday, November 10, 2026, following more than 23 years of distinguished service to Nigerian Breweries and HEINEKEN.”
Nigerian Breweries thanked Oriakhi for his dedication, leadership and contributions to the company and the wider HEINEKEN organisation over the past 23 years.
The company said his successor would be announced in due course.
Oriakhi’s 23-year career at Nigerian Breweries
Oriakhi joined Nigerian Breweries in 2003 as a Commercial Management Trainee and subsequently held several marketing, commercial and sales leadership positions in Nigeria and internationally.
- Between 2015 and 2018, he served as Manager, Business Development, at Heineken Global Commerce (AMEE), before returning to Nigeria as Marketing Director in September 2018.
- During his six-year tenure as Marketing Director, he led the company’s marketing and innovation activities, contributing to the growth and development of its brand portfolio.
- His contributions included the introduction of products such as Desperados, Zagg, Legend Twist, Goldberg Black and Heineken 45cl.
In March 2025, he was appointed Sales Director, bringing his commercial experience to the company’s sales operations.
In that role, he helped advance trade execution, strengthen sales capabilities and improve customer service.
His retirement brings to a close more than 23 years of service across Nigerian Breweries and the wider HEINEKEN group.
Nigerian Breweries swings to net cash
Oriakhi’s retirement comes as Nigerian Breweries reports improved revenue and profitability, alongside a significant recovery in its balance sheet in the first half of 2026.
The brewer recorded revenue of N803.7 billion in H1 2026, representing an 8.88% increase from N738.1 billion in the corresponding period of 2025. Gross profit also rose by 14.1% to N354.9 billion from N311 billion, while gross profit margin expanded to 44.1% from 42.1%.
- Operating profit increased by 7.95% to N164 billion, compared with N151.9 billion in H1 2025, although operating profit margin moderated to 20.4%.
- Profit before tax grew by 18% to N156.3 billion from N132.2 billion.
- Profit after tax increased by 5% to N92.95 billion from N88.4 billion.
- The company also recorded a significant improvement in its financial position, eliminating its interest-bearing loans and borrowings, which stood at N152 billion in the corresponding period of 2025.
Consequently, Nigerian Breweries moved from a net debt position of N74.3 billion in H1 2025 to a net cash position of N74.6 billion in H1 2026. Retained earnings also returned to positive territory at N13.6 billion, compared with an accumulated deficit of N72.2 billion as of December 2025.
The improvement was supported by lower finance costs, which declined to N10.2 billion from N20.5 billion in the corresponding period, easing financing pressure on the company.
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