Barely one month after it announced a price review that witnessed a hike in the prices of most of the drinks in its stable, Nigerian Breweries Plc has, again, announced another increment in the prices of its drinks.
The company, in a circular sent to customers by the company’s Zonal Business Manager (West), Lekan Awosanya, explained that the review has become imperative because of the continued rising input cost and the need to mitigate the cost.
It added that the new price regime, which takes effect from March 15, will see all open orders in its system from that date invoiced at the new prices.
The company explained that the nation’s business landscape, which experienced a significant shift in 2023, with a substantial impact on businesses and livelihoods nationwide, affected its performance.
“As earlier informed, we will review some of our SKU prices effective Friday, 15th March 2024. The 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 00.00 hours on Friday, 15th March, 2024 will be invoiced at the new prices,” the company stated.
It will be recalled that the brewing company made a whopping loss of N106 billion in its last financial year, 2023, making it a sharp contrast to the N13 billion profit it made in the 2022 financial year.
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