Nigerian Breweries Plc has announced a second increase in the prices of its products, following an earlier price adjustment in February.
This latest update was communicated in a press statement dated March 8, 2024, addressed to customers in the West Zone and signed by the zonal business manager, Lekan Awosanya.
This new price review, set to take effect from Friday, March 15, 2024, comes after a previous notification issued to customers via a letter dated Monday, February 12, 2024.
The initial review, which became effective from Monday, February 19, 2024, was implemented to counterbalance the surge in production costs.
The recent statement explains that the latest price revision is driven by the ongoing rise in input costs, necessitating adjustments to maintain the balance in operations.
The company stated, “As earlier informed we will review the prices of some of our SKUs effective Friday 15th March 2024. This review has become necessary because of the continued rising input cost and the need to mitigate the impact.”
Furthermore, the statement clarified that all orders open in the company’s system as of 00.00hrs on Friday, March 15, 2024, will be invoiced at the new, revised prices.
This move reflects the company’s strategy to manage escalating costs while maintaining its business operations.
