Kelvin Bowoto
Nigerian Breweries Plc has issued a new pricing review notification to all of its West Zone customers.
According to a letter dated Monday, February 12, 2024, the pricing revision, which will take effect on Monday, February 19, 2024, is necessary to offset the impact of increasing manufacturing expenses.
“This is to inform you that we are obligated to review the prices of some of our SKUs starting Monday, February 19, 2024.
“This review has become necessary due to continued rising input costs and the need to mitigate the impact,” the company said in a statement.
Customers who had fully paid for items before the designated deadline were guaranteed to receive them at the current pricing, according to the company.
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However, orders that exceed the specified quantity window will be subject to the amended pricing.
“In recognition of our excellent relationship and your dedication, we will fulfill all open orders that are fully funded and created in our system before 00:00 hrs on Monday, February 19, 2024, at current rates.
“Your Regional Business Manager (RBM) will convey to you the exact number of orders that will be honored. Any orders in excess of this quantity will be re-invoiced at the new price on February 19, 2024,” the statement continued.
The FMCG company’s pricing adjustment is believed to have resulted from higher production costs, which were exacerbated by FX volatility.
It’s worth noting that since January 2023, no fewer than seven multinational corporations have either left or announced their intention to leave the country before December.
Techrectory with Agency Report.
