Nigeria: Nigerian Breweries announces yet another price hike

Nigerian Breweries Plc has announced yet another increment in the price of its products after the last increase in February, Vanguard News reported on March 11.

Recall the company issued a new price review notification to all its customers in the West Zone last month.

In February, its price hike premised on rising production costs and the need to insulate the company against it.

According to the report then, it was the third upward price review in a year.

In a letter dated Monday, February 12, 2024, the price review, effective from Monday, February 19, 2024, is deemed necessary to offset the impact of increased production expenses.

Meanwhile, on Monday, March 11, another press statement dated March 8, 2024, was sent to customers around the West zone and signed by its zonal business manager, Lekan Awosanya, announcing a new price increase.

Per the notice, the latest price review is premised on the need to mitigate the impact of rising input costs.

The statement read, “As earlier informed we will review the prices of some of our SKUs effective Friday 15th March 2024. This review has become necessary because of the continued rising input cost and the need to mitigate the impact.

“All open orders in our system at 00.00hrs on Friday 15th of March, 2024 will be invoiced at the new prices.”

The company, however, appreciated its customers for their commitment and great partnership while assuring dealers of continued support for sales and distribution.

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