This was stated in a letter dated February 12 titled: "Price review notification," by the Zonal Business Manager (West), Lekan Awosanya, saying the price effect would commence on February 19th, 2024.
The Nigerian Breweries Plc has increased the price for its Stock-Keeping Units (STUs) over the rising costs of importation.
This was stated in a letter dated February 12 titled: "Price review notification," by the Zonal Business Manager (West), Lekan Awosanya, saying the price effect would commence on February 19th, 2024.
The letter reads in part, "This is to inform you that we are constrained to review the prices of some of our SKUs effective from Monday, 19th February 2024. This review has become necessary because of the continued rising input cost and the need to mitigate the impact
“In appreciation of our great partnership and your commitment, we will deliver at the current prices all open orders that are fully funded and created in our system before 00.00hrs on Monday, 19th February 2024.
“While thanking you for your commitment to our great partnership, be rest assured that we will continue to support your sales/distribution efforts as always. For further clarification, please do not hesitate to contact your Regional Business Manager.”
This is the second time Nigerian Breweries Plc would be review its price for its Stock-Keeping Units within the period of six months.
The last one was in August 2023 when the company said there was a need to review prices because of several factors that have bedevilled the Fast-Moving Consumer Goods (FMCG) industry.
This latest development in the beverage market is likely to affect consumer purchasing decision who might be forced to cut back on their beer consumption or seek more affordable alternatives.