International Breweries Plc has announced an increase in the prices of its various products in Nigeria. The company stated that the price review was necessary due to current market realities and aims to better serve its customers.
The new price adjustments affect several products, including Eagle Lager, Eagle Extra Stout, Trophy Stout, Beta Malt, and Grand Malt.
Olaleye Abimbola, Head of Sales at International Breweries, expressed confidence that the decision to review prices would benefit all the company’s partners. However, he urged partners to adhere to the previous pricing strategy until the new prices are fully implemented.
This marks the second price increase by the company within a year. International Breweries reported a forex-related loss of N162.2 billion in its first-quarter report.
Major brewers in Nigeria are grappling with economic challenges such as inflation, foreign exchange volatility, and rising production costs, leading to widespread price hikes across the industry.
