Again, Nigerian Breweries Hike Price

Following a price rise in February, Nigerian Breweries Plc has announced another increase in the cost of its goods.
The next pricing review will go into effect on March 15, 2024.

THE MATRIX was able to get a review notification that the firm sent to consumers in the South-West zone, signed by its zonal business manager, in which it divulged this information.

The notification states that the latest pricing revision is based on the necessity of lessening the effects of increasing input prices.

It stated, “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.

Read Also: Nigerian Breweries Records N106 Billion Loss in 2023

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

The company assured its distributors of its continued support of their sales and distribution efforts.

Companies in the manufacturing and FMCG space in the past 12 months have seen significant increases in the input cost over the depreciation of the naira as imported raw materials become more expensive.

The difficulties faced by Nigerian Breweries are part of a broader trend. In 2023, Nigeria’s challenging macroeconomic conditions severely impacted the functioning of manufacturing firms, both domestic and international, within the country. This led to notable departures and shutdowns by the year’s end.