Nigerian Breweries PLC, a leading beverage company, has announced its intention to adjust the prices of its products starting from Monday, February 19, 2024. This decision was communicated by the company’s Zonal Business Manager – West, Lekan Awosanya, in a notification sent to its customers on Monday, February 12.
According to Mr. Awosanya, the price adjustment has become necessary due to the increasing costs of production, which have put pressure on the company’s operations. “This is to inform you that we are constrained to review the prices of some of our SKUs with effect from Monday, February 19, 2024,” stated Mr. Awosanya.
He emphasized that the price hike aims to offset the impact of rising input costs and to ensure the sustainability of the company’s operations amidst economic challenges. “This review has become necessary because of continued rising input costs and the need to mitigate the impact,” he stated.
In an effort to mitigate the impact of the price increase on its customers, the company has assured that all open orders placed and fully funded before midnight on Monday, February 19, 2024, will be delivered at the current prices. However, any orders exceeding the communicated quantity will be subject to the new pricing effective February 19, 2024.
The exact details regarding the quantity of orders eligible for delivery at current prices will be communicated to customers by their respective Regional Business Managers (RBMs).
The announcement underscores the ongoing challenges faced by businesses in Nigeria amid inflationary pressures and increasing production costs.
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