Kelvin Bowoto
Nigerian Breweries Plc, one of the country’s biggest breweries, has revealed plans to execute another round of pricing adjustments for its goods, just two months after the previous rise in February.
The new pricing system is set to take effect on March 15, 2024, affecting customers in the South-West area.
The reasoning behind the move was explained in a notification sent to clients by the company’s zone business manager (West), Lekan Awosanya.
The decision was attributed to a continual rise in input costs, necessitating the adjustment to offset the company’s rising expenses.
In the statement, the company emphasized the necessity of the price review, stating, “As earlier informed, we will review the prices of some of our SKUs effective Friday, March 15, 2024. This review has become necessary because of the continued rising input costs and the need to mitigate the impact.”
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Furthermore, the notification clarified that all open orders in the system as of 00:00 hrs on Friday, March 15, 2024, would be invoiced at the new prices, indicating the immediate implementation of the revised pricing structure.
In the statement, the firm underlined the importance of the pricing review, noting, “As previously announced, we will evaluate the prices of some of our SKUs on Friday, March 15, 2024. This evaluation has become required due to increased input costs and the need to reduce their impact.”
Furthermore, the notification stated that all open orders in the system as of 00:00 hrs on Friday, March 15, 2024, will be invoiced at the new prices, implying that the updated pricing structure would go into effect immediately.
Despite the price revisions, Nigerian Breweries Plc informed its distributors of its unwavering support for their sales and distribution efforts, reinforcing its commitment to continuing commercial operations under the current market conditions.
This new occurrence highlights the persistent issues that companies in Nigeria’s beverage industry confront, including shifting input costs and economic concerns.
Techrectory with Agency Report.
