Nigerian Breweries (NB PLC) has announced a price increase on all their products effective 10th August 2023.
In a letter to distributors, the Sales Director, Ayo Lawal, said the price hike became necessary due to the continued rise in input costs and the necessity to mitigate its impact.
The letter reads in part:
“This is to inform you that we will review the prices of some of our SKUs (Stock Keeping Units) effective Thursday, 10th August 2023. This review has become necessary because of continued rising input costs and the need to mitigate the impact.
“In appreciation of our great partnership and your commitment, we will deliver at current prices all open orders that are fully funded and created in our system before 00.00hr on Thursday, 10th August 2023.
“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.”
It added that as a prominent brewery in Nigeria, the action is expected to create a ripple effect in the country’s beverage market, leading consumers to prepare to pay higher prices for their favourite brews.
Nigeria breweries produce popular beer drinks, including; Star Lager, Gulder, Legend Extra Stout, Heineken, Goldberg, Life, and Star Radler.
They are also the producers of alcoholic-free drinks like Maltina, Amstel Malta, Fayrouz, Climax Energy drink, and Malta Gold.
In recent times, Nigerians have experienced an increase in the cost of goods following the removal of subsidy and the floating of the naira by the Bola Tinubu-led administration.
