VAM News Update
Nigerian Breweries announces hike in price of beers amid economic challenges
Nigerian Breweries (NB PLC) has announced a price increase on all their products effective August 10, 2023.
In a letter seen by Nairametrics and dated 1st August 2023, the company established the need to review prices due to the soaring rise in input costs and the necessity to cushion its impact.
It partly reads, “This is to inform you that we will review the prices of some of our SKUs effective Thursday 10th August 2023.”
It is reported that the decision to increase prices is attributed to 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.
