The Nigerian Breweries Plc recently announced price change for its Stock-Keeping Units (STUs) with effect from February 19.
A letter dated February 12 titled: 'Price review notification,' by the Zonal Business Manager (West), Lekan Awosanya, reads in part: "This is to inform you that we are constrained to review the prices of some of our SKUs effective from Monday, 19th February 2024.
This review has become necessary because of the continued rising input cost and the need to mitigate the impact.
"In appreciation of our great partnership and your commitment, we will deliver at the current prices all open orders that are fully funded and created in our system before 00.00hrs on Monday, 19th February 2024.
"While thanking you for your commitment to our great partnership, be rest assured that we will continue to support your sales/distribution efforts as always. For further clarification, please do not hesitate to contact your Regional Business Manager."
ICYMI: See Full List As Nigerian Breweries Releases New Prices Of Beer By 40 Percent
Below are the new price list;
1. GULDER - N950
2. STAR - N850
3. 33 EXTRA - N850
4. HEINEKEN - N1300
5. LIFE - N850
6. LEGEND - N1250
7. TIGER - N750
Meanwhile, NBC reported a net loss of N106 billion ($235 million) for 2023, blaming a combination of economic headwinds and the devaluation of the naira.
The company's CEO, Hans Essaadi, painted a bleak picture of Nigerian consumers struggling to afford even a basic beer, highlighting the depth of the nation's economic woes.
"It has been an unprecedented year," Essaadi told investors, as reported by Bloomberg. "We saw a significant decline in the mainstream lager market as a result of Nigerian consumers no longer able to afford a Goldberg after a hard day's work."
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