Nigerian Breweries set to increase beer price

By Matthew Denis

Beer drinkers are set for unease as 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 signed by the Zonal Business Manager of West, Olalekan Awosanya to customers as seen by Nigerian NewsDirect stated that the price increment will take effect from October 9th, 2023.

The Statement noted that, “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 Monday 9th October, 2023.

“While thanking you for your commitment to our great partnership, be rest assured tht we will continue to support your sales and distribution efforts as always.”

Recall that 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 Non-alcohol 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 brands will be affected by the price increase.

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 85.7 percent the price hike by the Nigerian Breweries would further put pressure on the pockets of consumers.