The International Breweries Plc has disclosed plans to increase prices on its range of product offerings in Nigeria.
The brewer said that reviewing prices in its portfolio has become necessary due to current market realities, adding that it meant to serve its customers better.
The new price review affects products such as Eagle Lager, Eagle Extra Stout, Trophy Stout, Beta Malt, and Grand Malt.
Its Head of Sales, Olaleye Abimbola, said the company is confident that the decision to review the prices benefits all its partners.
Abimbola, however, called on the company’s partners to honour the old pricing strategy it had in the previous months until the new changes are announced and implemented.
This is the second time the company is increasing the prices of its products in one year. International Breweries disclosed a forex-related loss of N162.2 billion in its first quarter report.
Major brewers in Nigeria have been hit by an economic crisis due to inflation, foreign exchange volatility, and rising production costs, which have led to price hikes across the country.
