Economic Meltdown: Nigerian Breweries Experiences Shocking Price Hike in Two Months

Nigerian Breweries Plc has made a decision to increase the prices of its products for the second time within a span of two months.

This decision follows closely on the heels of a prior price adjustment announced in February, underscoring the company’s struggle with rising operational costs.Set to come into effect on March 15, 2024, this price revision will affect customers throughout the South-West region, according to a notification issued by the company to its clients. This move is part of Nigerian Breweries’ efforts to navigate the economic turbulence marked by steadily increasing input costs.

The company’s zonal business manager for the West, Lekan Awosanya, communicated the rationale behind this price adjustment in a statement to customers. Awosanya highlighted the unavoidable need to review the pricing of select stock keeping units (SKUs) as a measure to counterbalance the escalating expenses incurred in production.

According to the announcement, any orders that remain open in the company’s system as of 12:00 AM on March 15 will be subject to the revised pricing. Nigerian Breweries has expressed gratitude towards its customers for their continued support and partnership during these challenging times. Additionally, the company reassured its dealers of its commitment to supporting their sales and distribution efforts despite the price changes.