Nigerian Breweries Hikes Beer, Beverage Prices
Beginning Monday 9th October, Nigerian Breweries will hike the prices of its products to mitigate the impact of the rising cost of inputs occasioned by the rising inflation in the country.
NBL is the brewer of Star Lager, Gulder Lager, Heineken Lager, Star Radler, Goldberg, Life, Legend Extra Stout, Maltina, Amstel Malta, and Fayrouz a non-alcoholic soft drink that was launched in 2006.
Many of the Larger beers are currently sold at N500 and above across the country, and with this development, many people may switch over to sachets alcoholic drinks that cost less.
In a memo referenced SD/LA10/36 and dated, Zonal Business Manager of West, Olalekan Awosanya said the upward review of the products become necessary in view of the escalating costs, informing its customers that orders made before the effective date of the hike will still be issued at the old price.
“In appreciation of our great partnership and your commitment, we will deliver at current prices for all open orders that are fully funded and created in our system before 12 midnight on Monday 9th October, 2023”, Awosanya in the memo dated 2nd October addressed to all its customers in the West zone.
He thanked the customers and assured them of the continued support of their sales and distribution efforts as always.
Recall that SKU is a unique identifier used to track inventory within a business but the brewer did not state which of its brands will be affected by the price increase.
With Nigeria’s inflation at 22.7 per cent, coupled with the decision of the federal government to raise the excise duty rate on beer and stout by 85.7 per cent the price hike by the Nigerian Breweries would further put pressure on the pockets of consumers.