International Breweries Plc has announced a price increase for its product range in Nigeria.
The company stated that the price review was necessary due to current market conditions and aims to better serve its customers.
The revised prices will affect products such as Eagle Lager, Eagle Extra Stout, Trophy Stout, Beta Malt, and Grand Malt. Olaleye Abimbola, the Head of Sales, expressed confidence that the price adjustment would benefit all partners.
However, Abimbola urged partners to adhere to the previous pricing strategy until the new prices are fully implemented.
READ ALSO: Naira Crashes to N1,495/$ in Parallel Market
This marks the second price hike by the company within a year. In its first-quarter report, International Breweries reported a forex-related loss of N162.2 billion.
Nigeria’s major brewers have been struggling with an economic crisis characterized by inflation, foreign exchange volatility, and increasing production costs, leading to widespread price increases across the industry.
(VANGUARD)
Follow the Parallel Facts channel on WhatsApp: https://whatsapp.com/channel/0029VaCQSAoHgZWiDjR3Kn2E
