Nigerian Breweries Plc, one of the leading breweries in the country, has announced its decision to implement another round of price adjustments for its products, just two months after the previous increase in February.
The new pricing structure is scheduled to take effect from March 15, 2024, a development that impact customers across the South-West region.
The rationale behind the move was outlined in a notification sent to customers by the company’s zonal business manager (West), Lekan Awosanya.
The notification attributed the decision to the persistent rise in input costs, necessitating the adjustment to offset the mounting expenses by the company.
In the statement, the company emphasised the necessity of the price review, stating, “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 costs and the need to mitigate the impact.”
Furthermore, the notification clarified that all open orders in the system as of 00.00hrs on Friday, March 15, 2024, would be invoiced at the new prices, indicating the immediate implementation of the revised pricing structure.
Despite the price adjustments, Nigerian Breweries Plc assured its distributors of unwavering support for their sales and distribution endeavours, reaffirming its commitment to sustaining business operations amid the prevailing market conditions.
This latest development underscores the ongoing challenges faced by companies operating in Nigeria’s beverage industry, grappling with fluctuating input costs and economic uncertainties.
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