Nigerians To Experience Costlier Era Of Their Favourite Brews

Nigerians To Experience Costlier Era Of Their Favourite Brews.

The price of all products of the Nigerian Breweries (NB PLC) will increase on August 10, 2023.

The company’s brand include Star lager beer; Gulder lager beer; Maltina, Legend Extra Stout; Amstel Malta; Heineken lager beer; Maltina Sip-it; Fayrouz, which is a non-alcoholic soft drink; Climax, a herbal energy drink; Goldberg lager; Malta Gold; Life Continental lager; Ace Passion, among others.

Announced its decision in a letter dated 1st August 2023, the company stated the need to review prices due to the continued rise in input costs and the necessity to mitigate its impact.

The decision to raise prices is attributed to several factors that have put immense strain on the Fast-Moving Consumer Goods (FMCG) industry.

As one of Nigeria’s leading breweries, this move is likely to have a ripple effect throughout the country’s beverage market, prompting consumers to brace themselves for the reality of paying more for their favourite brews.

Reports say, with inflation reaching 22.79% in June and the managed float of the forex market leading to the naira exchanging for as high as N869/$ at the I&E window last week Thursday, companies like NB PLC have faced significant challenges.

Many worry that competitors may take a cue and hike their own prices.

Nigerians generally have been facing incessant hike in prices of food, transportation and more, hence the news may not come as a surprise to some.

Consumers would only brace up and adjust their beverage budgets.

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