Aduragbemi Omiyale
By Aduragbemi Omiyale
Barely a month after it raised the price of its drinks amid rising inflation and the cost of doing business, Nigerian Breweries Plc will on March 15, 2024, carry out another hike, the second for this year.
In a notice to its distributors, the leading brewer said it is increasing its prices to mitigate the impact of rising input costs, which has affected players in the fast-moving consumer goods (FMCG) sector in the country.
Recall that Nigerian Breweries announced the first upward review of the price of its brands on February 19 for the same reason.
“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 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 00.00hrs on Monday, February 19, 2024.
“The exact quantity of orders that will be allowed will be communicated to you by your Regional Business Manager (RBM). Any order in excess of this quantity will be re-invoiced at the new price on the 19th of February, 2024,” the firm said in its first price review last month.
Less than a month after this, the company has again notified its distributors of another hike, saying, “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,” a new notice signed by the Zonal Business Manager for the South-West zone at Nigerian Breweries said.
