Di time wey plenty investors dey run from Nigeria because of wahala for economy, one Singapore-based company, Tolaram Corporation, decide to double down. Dem buy Diageo’s 58.02% stake for Guinness Nigeria for about $70 million for June 2024. At dat time, Nigeria dey suffer from forex losses, inflation wey dey squeeze consumers, and plenty multinational companies dey pack their things and leave.
But now, less dan two years later, dat investment don bubble to over $350 million. And not only dat, di company wey dem buy don start to produce steady cash for dem. Guinness Nigeria just declare interim dividend of N7 per share for di period wey end June 30, 2026. Di money go enter shareholders’ accounts on August 10, 2026.
Guinness Nigeria also release dem half-year financial results wey show say dem make profit of N25.3 billion for H1 2026, wey be 53% increase from N16.5 billion for H1 2025. Revenue also jump from N237 billion to N265 billion. Di biggest part of dis revenue, more dan 98%, come from sales inside Nigeria.
Tolaram no be new for Nigeria. Dem be di family wey turn Indomie into di number one noodle brand for di country. Dem start for 1988 by importing Indomie, and later invest for local manufacturing even when dem dey loss money for years. Dat long-term thinking don pay off well well. Now, dem don expand into other areas like infrastructure, consumer goods, and industrial development. Dem invest for Lagos Free Zone, Lekki Deep Sea Port, and partner with companies like Kellogg’s, Colgate, and Arla.
Di deal wey dem do with Guinness Nigeria dey follow di same pattern. When Diageo sell dem di stake, di global drinks company still keep di Guinness brand and enter long-term licence and royalty agreement. So Guinness Nigeria go still produce Guinness and other Diageo products for local market. Di sale show say Diageo dey move towards more flexible, asset-light model.
For Tolaram, dis investment na part of dem long-term plan. According to dem Group Chief Executive Sajen Aswani, “Our partnership with Diageo underscores our commitment to build on our strong presence and heritage in Nigeria. We take a long-term view on all our investments.”
Di results for Guinness Nigeria show say di strategy dey work. For di first half of 2026, dem record profit wey dey reverse di heavy losses wey dem suffer before Tolaram take control. Lower borrowing costs and stronger finance income also help di company. Di core Nigerian business generate more dan 98% of total revenue.
Di story of Guinness Nigeria show di difference between how some Asian and Western companies dey look at Nigeria. While many European companies dey reduce dem presence because of currency problems and rising costs, Asian companies like Tolaram dey invest. Dem believe say Nigeria get big population, urbanisation, and rising demand wey go give long-term returns even with short-term shocks.
For Tolaram, dat belief don yield big result. What start as $70 million buy for one of Nigeria’s toughest economic times don turn to stake worth over $350 million, plus dividends wey dey flow millions of dollars. For di family wey turn Indomie into household name after years of losses, Guinness Nigeria dey show again say sometimes di biggest returns come when you invest when others dey run.
