The Nigerian Breweries (NB) Plc has announced an upward review in the prices of some products in its stock-keeping units (SKUs) to “mitigate the impact of the rising cost of input”.
The company, in a memo to customers, said the price adjustments would take effect from August 10, 2023.
SKU is a unique identifier used to track inventory within a business.
The Nigerian Breweries is the producer of major alcoholic products like Star Lager, Gulder, Legend Extra Stout, Heineken, Goldberg, Life, Star Radler amongst others.
Some alcohol-free drinks under the company include Maltina, Amstel Malta, Fayrouz, Climax Energy drink, and Malta Gold.
In the memo, the brewer did not state which of its brand will be affected by the price increase.
“In appreciation of our great partnership and your commitment, we will deliver at current prices all open orders that are fully funded and created in our system before 00.00hr on Thursday 10th August, 2023,” the document reads.
“While thanking you for your commitment to our great partnership, be rest assured that we will continue to support your sales and distribution efforts as always.”
With Nigeria’s inflation at 22.7 percent, coupled with the decision of the federal government to raise the excise duty rate on beer and stout by 87.50 percent, the price hike by the Nigerian Breweries would further put pressure on the pockets of consumers.