The main objective of this study is to find out whether there is significant difference in profitability, liquidity and sales volume in application of Cost Volume Profit Analysis and Activity Based Costing Technique on the Performance of Brewery Industry in Nigeria: A Study of Champion Brewery Plc. To achieve this objective, the above costing techniques were compared using the overhead cost and the cost of commanding units and all sections of the department were appropriated using a suitable cost criterion among brewing products which includes larger beer and malt. The study adopted decision theory as propounded by Blaise and Pierre in 1654. The study also adopted the descriptive research design and data was collected through financial statement of the sampled brewery and the production and audit department of the Champion Brewery. Mann-Whitney U-test was employed to test the formulated hypothesis through the aid of SPSS software at 5% level of significance. The findings of the study show that activity-based costing technique provides clearer picture of cost centers, cost drivers which enables the organization to get closer to true cost and report true profit. The study then recommended that Brewery Industry in Nigeria should develop a good tone of management and core values that will promote the utilization of ABC technique in their costing system. By this, Brewery Industry will be able to determine in a high degree of accuracy the cost per unit of production which will in turn contribute to the overall performance of the firms.