- Nigerian breweries announced price hike of Maltina, Amstel Malta, Gulder, Star Larger, others
- The increment was due to the increasing cost in production of said goods.
- All orders placed before August 10th, 2023 will be fulfilled.
Nigerian Breweries announced a price hike on all of its goods, commencing August 10, 2023, due to challenges and the country’s economic crisis.
The company explained in a letter that the ongoing growth in input costs and the need to lessen the impact led to the price hike.
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The company said: “This is to inform you that we will review the prices of some of our SKUs (Stock Keeping Units) effective Thursday, August 10, 2023.
This review has become necessary because of continued rising input costs and the need to mitigate the impact.”
Popular beer brands and beverages produced by the corporation include Heineken, Star Lager, Gulder, Legend Extra Stout, and Star Lager.
In order to define its product range, it also makes non-alcoholic beverages including Maltina, Amstel Malta, and Fayrouz, among others.
“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, August 10, 2023.”
Inflation’s impact on Nigerian breweries
Companies like NB PLC have had considerable difficulties as a result of the inflation rate reaching 22.79% in June and the managed float of the foreign exchange market, which caused the naira to exchange for as much as N869/$ at the I&E window last Thursday.
Nigerian Breweries announced N70.6 billion in forex losses as of June 30, 2023, in their half-year financial statements.
This has put the world’s largest brewery in a difficult financial situation due to increased production costs and continuously rising raw material prices.
International Brewery recorded a loss of N2.31 billion in the first quarter of 2023, in contrast to N0.72 billion in the first quarter of 2022.
Nigeria Breweries, a subsidiary of Heineken NV, experienced a loss of N10.715 billion in the first quarter of 2023, compared to a profit of N13.61 billion in the first quarter of 2022.
“Nigeria’s alcohol landscape has expanded, and Nigerians have shown an increasing interest in exploring a wider range of spirits – from gin to cognac and whisky,” Clifford Egbomeade, an analyst in Nigeria’s beer industry said.
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Bride surprises many as she chugs down beer on wedding day
Meanwhile, a Nigerian woman has surprised many after she was captured drinking beer on her wedding day.
In an Instagram post, the bride took a bottle of beer and drank it at a large amount while still dressed in her ceremonial white gown as her friend does a video.
The young woman who didn’t seem to care about friends who surrounded her continued drinking.
