Mountain Top University Library

The principal aim of every brewery company is to make profit in order to maintain stability and sustainable growth.
The purpose of this study was to investigate the impact of selected macroeconomic factors on the financial performance of Brewery industry in Nigeria. The research population consist of the list of listed Brewery companies on the Nigerian Stock Exchange. A sample of five breweries have been selected as the sample size out of the listed companies in Nigeria stock exchange. The study adopted the ex post facto research design. The study made use of secondary data extracted from the annual published audited financial statement reports of each of the sample brewery companies, the Central Bank of Nigeria (CBN) annual bulletin and the Nigerian Bureau of Statistics annual data from year (2010- 2019). The study used multiple regression analysis to test the relationship between the exchange rate, inflation rate, cash reserve ratio, interest rate (lending rate) and the financial performance of the Brewery industry in Nigeria.
Return on Asset (ROA) is used to represent the performance of the Brewery industry. The findings showed that the exchange rate, inflation rate, cash reserve ratio and lending rate had no statistically significant impact on the return of assets which signifies the performance of the brewery industry in Nigeria. However, there exist a positive relationship between Exchange rate, Inflation rate, Cash Reserve Ratio, Interest rate (lending rate) and financial performance.
The study recommended that the brewery industry should make sure the exchange rates of the Brewery industry are made available for use and that most materials used in the Nigeria brewery industry should be produced locally instead of being imported.
Keywords: Brewery industry, Exchange rate, Inflation rate, Cash Reserve Ratio, Interest rate (lending rate)