Nigerian Breweries (NB) Plc has announced an increase in the price of a few items in its stock-keeping units (SKUs) in order to “mitigate the impact of the rising cost of input.”
The corporation informed consumers in a memo that the price changes will become effective on August 10, 2023.
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SKU is a distinctive identifier used by businesses to maintain inventories. Major alcoholic beverages like Heineken, Goldberg, Life, Star Radler, Star Lager, Gulder, and Legend Extra Stout are produced by Nigerian Breweries.
Among the company’s non-alcoholic beverages are Maltina, Amstel Malta, Fayrouz, Climax Energy Drink, and Malta Gold.
In the memo, the brewer did not state which of its brand will be affected by the price increase.
“In appreciation of our great partnership and your commitment, we will deliver at current prices all open orders that are fully funded and created in our system before 00.00hr on Thursday 10th August, 2023,” the document reads.
“While thanking you for your commitment to our great partnership, be rest assured that we will continue to support your sales and distribution efforts as always.”
With Nigeria’s inflation at 22.7 percent, coupled with the decision of the federal government to raise the excise duty rate on beer and stout by 87.50 percent, the price hike by the Nigerian Breweries would further put pressure on the pockets of consumers.
Speaking with the media, Sade Morgan, the corporate affairs director of Nigerian Breweries, said the price adjustment aims to sustain standard business practices with its trade partners.
“We would like to use this opportunity, to clarify, that this is a moderate price adjustment planned on some of the SKUs of our brands, due to continued rise in input cost,” Morgan said.
“Nigerian Breweries would like to assure all stakeholders of our unwavering commitment to excellent customer service delivery and consumer satisfaction.”
