Connect with us

Business

Nigerian Breweries Hikes Product Prices Gives Reason for Action

Published

on

Nigerian Breweries (NB) Plc is shaking up the beverage scene once again, as it unveils plans to adjust prices on select products starting Monday, February 19, 2024. This strategic move comes as the company grapples with soaring operational costs and the persistent depreciation of the naira.

In a recent memo, NB disclosed its intention to tweak prices on certain stock-keeping units (SKUs), signaling a proactive approach to cushioning the impact of escalating input expenses. While the memo refrained from specifying which beloved brands will be affected, the company assured customers of its dedication to delivering quality beverages despite the market challenges.

“We’re raising our glasses to resilience,” exclaimed the statement from NB. “As valued partners, your unwavering support fuels our commitment to excellence. Hence, we’re compelled to adjust prices to navigate the turbulent economic waters.”

The memo also emphasized NB’s commitment to honoring existing orders at current prices for those fully funded and entered into the system before the implementation date. However, any surplus orders will incur the new pricing structure, reinforcing the company’s stance on equitable business practices.

This isn’t the first time NB has pivoted in response to economic pressures. Less than eight months ago, in August 2023, the company initiated a similar price adjustment for comparable reasons, highlighting the persistent challenges facing the beverage industry.

Renowned for its iconic brands like Gulder, Maltina, Amstel Malta, and Fayrouz, Nigerian Breweries stands as a titan in the realm of alcoholic and non-alcoholic beverages. From the refreshing zest of Star Lager to the rich depth of Legend Extra Stout, NB’s diverse portfolio continues to captivate consumers across the nation.

As NB braces for the economic tide ahead, consumers may need to adjust their spending habits, but the promise of quality and satisfaction remains unwavering.