Friday 24 May 2024

International Breweries Announces Price Hikes

International Breweries has announced that it has implemented price hikes across its various offerings in Nigeria.

In a statement made available to The PUNCH, the company said the price review was implemented to serve its customers better.

The brewer added that it had become imperative to review prices in its portfolio due to the current market realities.

The affected products include Eagle Lager, Eagle Extra Stout, Trophy Stout, Beta Malt and Grand Malt.

The company’s Head of Sales (Southeast), Olaleye Abimbola, said, “We are confident that this decision will prove beneficial to all our business partners.

“Similarly we urge you to honour the same pricing strategy we had in the previous months until these changes are announced and implemented.”

Recently, major brewers in the country have fallen on hard times due to economic realities that have been themed by inflation, forex volatility, and increasing production costs, among others.

In its Q1 financial statement, International Breweries recorded a forex-related loss of N162.2bn.


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