Nigerian breweries announce beer price increase amidst rising cost of living
Nigerian Breweries PLC has informed its customers of an upcoming price increase for several of its products, set to take effect on Monday, February 19, 2024. Lekan Awosanya, the company’s zonal business manager for the West, conveyed this decision in a price review notification issued on Monday, February 12.
The price adjustment is deemed necessary to offset the impact of escalating production costs, as stated by Mr. Awosanya. He emphasized the company’s commitment to delivering open orders at current prices for those fully funded and entered into the system before midnight on Monday, February 19, 2024. However, orders exceeding a specified quantity will be subject to the new pricing structure.
This development follows a previous price increase implemented on August 10, 2023, reflecting ongoing challenges in managing costs within the industry.
Nigerian Breweries PLC’s product range includes well-known brands such as Heineken lager beer, Star lager beer, Gulder, Legend Extra Stout, and Goldberg. The forthcoming price adjustment will apply to these and other products offered by the company.
The announcement underscores the broader economic pressures faced by businesses in Nigeria and highlights the need to adapt to changing market conditions. As the company prepares to implement the new pricing strategy, stakeholders will be monitoring its impact on consumer behavior and market dynamics.
