Nigerian Breweries Set for Second Price Increase in 27 Days

Nigerian Breweries Plc has notified its distributor that it would increase prices of its products on March 15, 2024.

The latest notice, which was issued on March 8, would be the second time it would increase its prices within 27 days, having done so on February 19, 2024. It had also increased its prices in August 2023.

The latest move by the company to increase the price of its product was contained in a letter titled, “Price Review Notification,” which was addressed to “all direct customers – West Zone of the Nigerian Breweries Plc.”

It stated: “As earlier informed, we will review the prices of some of our SKUs effective Friday, March 15, 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, March 15, 2024 will be invoiced at the new prices”

The notification, which was signed for the NB by Zonal Business Manager – West, ’Lekan Awosanya, added that, “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. Happy selling!”

The brewery had issued a similar “Price Review Notification” to all its direct customers in the west zone on February 12, 2024, for an impending price adjustment that would commence on February 19, 2024.

The notification then stated: “Please accept our best compliments! This is to inform you that we are constrained to review the prices of some of our SKUs with effect from Monday, February 19, 2024. This review has become necessary because of continued rising input cost and the need to mitigate the impact.