Two major brewing companies in Nigeria, Nigerian Breweries Plc and Guinness Nigeria Plc have announced plans to increase the prices of some of their products, citing rising operational and input costs.
The companies disclosed the development in separate notices issued to their distributors, explaining that the adjustments became necessary due to prevailing economic conditions affecting the cost of doing business.
In a letter dated March 13 and signed by John Oloche Ademu, Zonal Business Manager (West), Nigerian Breweries said the new prices would take effect from March 20.
The company stated that the adjustment would affect selected stock-keeping units (SKUs), which are used by businesses to identify and track products in their inventory systems.
Read Also:
Cooking Gas Prices Drop Across Nigeria as Supply Improves
Nigerian Breweries produces several alcoholic beverages including Star Lager, Gulder, Legend Extra Stout, Heineken, Goldberg, Life Beer and Star Radler.
Its non-alcoholic beverages include Maltina, Amstel Malta, Fayrouz, Climax Energy Drink and Malta Gold.
The company said all fully funded and confirmed orders placed in its system before March 20 would still be processed at the existing prices.
Similarly, Guinness Nigeria Plc also notified its distributors of a planned price increase affecting selected products across its categories.
In a separate notice dated March 14, the company said the new price structure would take effect from March 27.
Guinness Nigeria explained that the adjustment was driven by prevailing economic realities that have significantly increased the cost of operations.
The company added that fully funded orders entered into its system before March 27 would still be delivered at the current prices.