KOREDE FOGO
Less than six months after increasing price of beers and other Stock-Keeping Units (SKUs), the Nigerian Breweries Plc, on Tuesday, announced another imminent price increase.
BUSINESSINSIDERNG, reports that NB had in August 2023 increased price of SKU, citing rising cost of production and inflation.
However, in a press statement made available to newsmen, NB said from February 19 would change price of their products in a direct response to the relentless rise in input costs.
According to Lekan Awosanya, the zonal business manager for Nigerian Breweries Plc, the price increase is a strategic measure designed to offset the impact of escalating input costs.
“As production expenses continue to climb, the company finds itself in a position where it must make adjustments in order to maintain its operations and continue providing high-quality products to its customers,” Awosanya stated.
However, for those who have already placed orders with Nigerian Breweries Plc, there is a silver lining. The company has assured that all open orders which are fully funded and created in their system prior to 00.00hrs on February 19 will still be delivered at the current prices. This means that customers who acted swiftly and secured their orders ahead of the price change will be spared from the additional costs.
Awosanya communicated the impending price increase in a letter addressed to partners. The correspondence, which was sent out on February 13, contained details regarding the affected SKUs, the new pricing structure, and the conditions for orders placed before the price change takes effect.
By being transparent and proactive in their communication, Nigerian Breweries Plc is ensuring that all stakeholders are well-informed and can make necessary adjustments in a timely manner.