Nigerian Breweries reviews products’ prices twice in one month
By Seun Johnson
Nigerian Breweries Plc. has disclosed its decision to review the prices of its selected products in the West region of the country. This was contained in a letter dated March 8 with the title: “Price Review Notification” and addressed to its distributors in the zone.
According to the letter which was signed by its Zonal Business Manager, Lekan Awosanya, the new price review will come into effect on Friday, March 15, 2024.
While appreciating its customers for their commitment and partnership, the company noted that the price increase has become necessary to mitigate the impact of the continuous rise in the cost of input.
The statement read: “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 latest disclosure would be the second time the company would announce a price increase within a month.
In a letter dated February 12, Nigerian Breweries Plc. notified its customers in the West Zone of its plans to review product prices effective from February 19. It cited the need to offset its production expenses as the reason for the increase.
It would also be recalled that the company carried out a price hike on its selected products on August 23, which took effect on August 10, 2023.
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