Nigerian Breweries To Hike Beer Price Over Fuel Subsidy Removal

Eko Hot Blog reports that Nigerian Breweries has announced it will increase the price of beer in August 2023 following the recent hike in the cost of production as a result of the fuel subsidy removal by the federal government.

The company management disclosed this in a statement issued at the beginning of the business day on Tuesday, Naija News understands

The company, however, noted that the proposed adjustment would be moderate as it became necessary due to the continued rise in the cost of production.

This publication understands that Nigerian Breweries has at least 19 high-quality brands, including Heineken, Desperados, Maltina, Life, Amstel Malta, Gulder, Fayrouz, and Legend, which are produced by nine breweries and distributed nationwide.

Recall that President Bola Ahmed Tinubu announced an end to the subsidy era on May 29 during his inauguration at the Eagles Square in Abuja.

The development has since led to an increase in transportation costs.

We are aware of the memo in circulation issued by our Sales Director, Ayo Lawal, on Tuesday, August 1, 2023, to all our direct customers notifying them of the upcoming review of prices of some of our SKUs, effective Thursday, August 10, 2023.

“This notification to our esteemed trade partners is in keeping with our standard business practices and commitment to business continuity for our customers.

“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 the continued rise in input cost,” the Nigerian Breweries noted in its latest publication.

The company assured all stakeholders of its unwavering commitment to excellent customer service delivery and consumer satisfaction.

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