Nigerian Breweries Plc have announced another increase in the price of its products after the earlier increase in February.

The new price review will take effect from the 15th of March 2024.

The company disclosed this in a review notification sent to customers around the South-West zone signed by its zonal business manager which was obtained by Nairametrics.

According to the notice, the latest price review is premised on the need to mitigate the impact of rising input costs.

It 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.
“All open orders in our system at 00.00hrs on Friday 15th of March, 2024 will be invoiced at the new prices”

The company assured its distributors of its continued support of their sales and distribution efforts.

Backstory
Earlier in February, Nairametrics reported the Nigerian Breweries price hike premised on rising production costs and the need to insulate the company against it. According to the report then, it was the third upward price review in a year.

What you should know
Companies in the manufacturing and FMCG space in the past 12 months have seen significant increases in the input cost over the depreciation of the naira as imported raw materials become more expensive.

The difficulties faced by Nigerian Breweries are part of a broader trend. In 2023, Nigeria’s challenging macroeconomic conditions severely impacted the functioning of manufacturing firms, both domestic and international, within the country. This led to notable departures and shutdowns by the year’s end.

Also, inflation has significantly affected patronage as confirmed by the CEO, Hans Essaadi during the result presentation for 2023 where he stated that consumers are no longer able to afford Goldberg. He also acknowledged inflation, rising input costs and pressured consumer spending as challenges the company will confront in 2024.

For the year ending December 2023, the company recorded a net loss of N106 billion mainly from its FX losses amounting to N153 billion.

Paraman:
I remember the days we dey win extra drinks after checking under the crown. After drinking a bottle of guiness, gulder, star, coke, fanta etc you can check under the crown and win an extra drink or some other prices.

SeeWahala:
I bought a can of Guiness Extra Stout for N900 yesterday night

I drank 4 cans

How many agbad0rians can do what I did?

SeeWahala:
I bought a can of Guiness Extra Stout for N900 yesterday night

I drank 4 cans

How many Nigerians can do what I did?

Brendaniel:


It is not just about the beer but the fact that the price has gone up, what it tells you is that prices of other essential goods have also gone up...

You think they will just wake up to change their price because they want to just increase it or because others are increasing theirs, what you should be more concerned about is the rate prices are going up, I don't drink but each time I read of any price increase from any sector I know it is happening in other sectors.

Some of the ingredients used in making beer are things people consume as food, so their prices must have also gone up and please we do not lack common sense.

SeeWahala:
I bought a can of Guiness Extra Stout for N900 yesterday night

I drank 4 cans

How many agbad0rians can do what I did?

verybadmouth:
Alcohol wey dem suppose dey beg us to buy, na we dey beg to drink am. Lol.

In this country, we lack common sense. Do we really need to consume these drinks? Let them be reserved for their families. When demand decreases, prices will drop or the breweries will shut down. Our bodies require nourishment, not alcohol, please.

The same Alcohol that has rendered many people fatherless. Make una dey play

Paraman:
I remember the days we dey win extra drinks after checking under the crown. After drinking a bottle of guiness, gulder, star, coke, fanta etc you can check under the crown and win an extra drink or some other prices.

You can even check under the crown of the extra drink you won and still win another bottle of free drink