The idea to establish a brewery in Lagos was first promoted by Frank Samuel of UAC before World War II.

UAC did not have a technical history in beer-making, leading the firm to enter into a technical agreement with Heineken and investments from other merchandise companies in Nigeria, including John Holt, GBO, SCOA, CFAO and UTC who all took some equity interest in the new company.

[3] It was one of the early companies to use sophisticated market research skills and to advertise a Nigerian brand heavily.

To get products to consumers, the company gave rights to sell its brand to select distributors and built depots at strategic locations within the country.

In 1988, NBL facilities had to undergo a conversion process when the government banned barley imports.

[7] In 2014, the firm merged with Consolidated Breweries, producers of 33 export and Williams Dark Ale, a merger led by the company's leading shareholder Heineken.

[10] In March 2019, a Nigerian Federal High Court dismissed Nigerian Breweries' suit against the National Lottery Regulatory Commission (filed in 2018) which asked the Court to look into the authority of the Lottery Commission regarding sales promotion to consumers.