Everything We Know About Guinness’ Plans to Leave Nigeria After Several Years of Operation

Diageo, Guinness’ parent company, has announced its exit from the Nigerian market after many years of operations. This information was obtained when the corporation agreed to sell its 58.02% ownership in Guinness Nigeria to the Singaporean conglomerate, Tolaram Group.

The decision comes after Guinness Nigeria reported a startling loss of N61.9 billion after-tax between July 2023 and March 2024, which was blamed to Nigeria’s tough economic conditions.