Nigerian Breweries Set To Raise Beer Prices Amid Fuel Subsidy Removal

Nigerian Breweries Set To Raise Beer Prices Amid Fuel Subsidy Removal

Nigerian Breweries has announced another hike in the prices of its products, effective Friday, March 15, 2024. The company cited the continued rise in input costs in the country as the reason behind the upward review……READ ALSO BREAKING: Nigerian Breweries Makes Announcement Concerning Price Of Beers Amid Economic Challenges

In a statement, it explained, “As earlier informed, we will review some of our SKU prices effective Friday, 15th March 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 15th of March, 2024, will be invoiced at the new prices.”

This increment comes just a month after the company announced an initial price increase on some of its products, effective Monday, February 19, 2024.

In its 2023 financial report, Nigerian Breweries revealed a loss of N106 billion for the period compared to the N13 billion profit it realized a year before. The company attributed this performance to the significant shift in the Nigerian business landscape in 2023, which had a substantial impact on businesses and livelihoods nationwide.