Again, Nigerian Breweries Announces Another Hike In Prices Of Beer

VAM News March 11, 2024 in Business Tagged beer, Nigerian Breweries - 1 Minute

THE company explained that the upward review is necessary considering the continued rising input cost in the country.

The Nigerian Breweries has announced an increase in the prices of its products from Friday, March 15, 2024.

The company explained that the upward review is necessary considering the continued rising input cost in the country.

It stated, “As earlier informed, we will review some of our SKU prices effective Friday, 15th March 2024. This review has become necessary because of the continued rising input cost and the need to mitigate the impact.

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

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The increment is coming barely a month after it announced an initial price increase on some of its products, effective Monday, February 19, 2024.

In its 2023 financial report, the company revealed that it made a loss of N106 billion for the period compared to the N13 billion profit it realised a year before.

The company explained that the Nigerian business landscape, which experienced a significant shift in 2023 with a substantial impact on businesses and livelihoods nationwide, affected the company’s performance.