The Nigerian Breweries PLC has issued a “Price Review Notification” to all its direct customers in the West Zone.
This was contained in a letter issued to customers on Monday, February 12, 2024, and seen by Nairametrics.
According to the statement, the price adjustments, effective from Monday, February 19, 2024, is deemed necessary to offset the impact of increased production expenses.
However, the company assured customers with fully funded and system-registered orders before the specified date will be honored at the existing prices.
But, any orders, according to its statement to the customers, exceeding the communicated quantity window will be subject to the revised pricing.
Sources reveal that this is the third price adjustment in the year that the FMCG company is reviewing its prices.
“Please accept our best compliments! This is to inform you that we are constrained to review the prices of some of our SKUs with effect from Monday 19 February 2024. This review has become necessary because of continued rising input cost and the need to mitigate the impact.
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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 00.00hrs on Monday 19th February 2024.
The exact quantity of orders that will be allowed will be communicated to you by your Regional Business Manager (RBM). Any order in excess of this quantity will be re-invoiced at the new price on the 19th of February 2024.
While thanking you for your commitment to our valued partnership, be rest assured that we will continue to support your sales/distribution efforts as always. For further clarifications, please do not hesitate to contact your Regional Business Manager. Happy Selling!!! For. Nigerian Breweries Pic.”
On August 3, 2023, the company issued a similar statement saying it will be reviewing products’ prices, due to continued rise in input cost. Since the removal of the subsidy on petrol by President Bola Tinubu on May 29, 2023, there has been a steady increase in the prices of basic items and staples.