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Nigerian Breweries increases price of products for the second time in two months

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Nigerian Breweries Plc have announced another increase in the price of its products after the earlier increase in February.

The new price review will take effect from the 15th of March 2024.

The company disclosed this in a review notification sent to customers around the South-West zone signed by its zonal business manager which was obtained by ThePressNG.

According to the notice, the latest price review is premised on the need to mitigate the impact of rising input costs.

The company assured its distributors of its continued support of their sales and distribution efforts.

Earlier in February, ThePressNG reported the Nigerian Breweries price hike premised on rising production costs and the need to insulate the company against it. According to the report then, it was the third upward price review in a year.

Companies in the manufacturing and FMCG space in the past 12 months have seen significant increases in the input cost over the depreciation of the naira as imported raw materials become more expensive.

 

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