Nigerian Breweries Plc has announced the retirement of its Sales Director, Emmanuel Oriakhi, effective November 10, 2026.
He leaves 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. He rose through various marketing, commercial and sales leadership positions in Nigeria and internationally.
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.
Between 2015 and 2018, Oriakhi served as Manager, Business Development, at Heineken Global Commerce (AMEE). He returned 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 closes more than 23 years of service across Nigerian Breweries and the wider HEINEKEN group.
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 ₦803.7 billion in H1 2026. This is an 8.88 per cent increase from ₦738.1 billion in the corresponding period of 2025.
Gross profit rose by 14.1 per cent to ₦354.9 billion from ₦311 billion. Gross profit margin expanded to 44.1 per cent from 42.1 per cent.
Operating profit increased by 7.95 per cent to ₦164 billion, compared with ₦151.9 billion in H1 2025. Operating profit margin, however, moderated to 20.4 per cent.
Profit before tax grew by 18 per cent to ₦156.3 billion from ₦132.2 billion.
Profit after tax increased by 5 per cent to ₦92.95 billion from ₦88.4 billion.
The company also recorded a significant improvement in its financial position. It eliminated its interest-bearing loans and borrowings, which stood at ₦152 billion in the corresponding period of 2025.
As a result, Nigerian Breweries moved from a net debt position of ₦74.3 billion in H1 2025 to a net cash position of ₦74.6 billion in H1 2026.
Retained earnings also returned to positive territory at ₦13.6 billion, compared with an accumulated deficit of ₦72.2 billion as of December 2025.
The improvement was supported by lower finance costs, which declined to ₦10.2 billion from ₦20.5 billion in the corresponding period. This eased financing pressure on the company.
