LAGOS, Nigeria (VOICE OF NAIJA)-International Breweries Plc has announced an increase in the prices of its various products in Nigeria.
The brewer explained that the price adjustments were necessary due to current market conditions and were made to better meet its customers’ needs.
The price increase applies to products such as Eagle Lager, Eagle Extra Stout, Trophy Stout, Beta Malt, and Grand Malt.
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The company’s Head of Sales, Olaleye Abimbola, expressed confidence that the price adjustments will benefit all partners.
However, Abimbola urged partners to stick to the old pricing strategy until the new prices are officially announced and implemented.
This makes the second time the company has raised its product prices within a year. International Breweries reported a forex-related loss of N162.2 billion in its first-quarter report.
Major brewers in Nigeria have felt the impact of an economic crisis caused by inflation, foreign exchange fluctuations, and increasing production expenses, resulting in price increases nationwide.