Business

International Breweries Announces Price Hike For Products

The price adjustments will affect products such as Eagle Lager, Eagle Extra Stout, Trophy Stout, Beta Malt, and Grand Malt.

By Nkiruka Aduba

International Breweries Plc has announced an increase in the prices of its products in Nigeria. The company stated that the price review was necessary due to current market conditions and aimed at better serving its customers.

The price adjustments will affect products such as Eagle Lager, Eagle Extra Stout, Trophy Stout, Beta Malt, and Grand Malt.

Olaleye Abimbola, the Head of Sales, expressed confidence that the price review would benefit all partners. He also 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 facing economic challenges due to inflation, foreign exchange volatility, and rising production costs, leading to widespread price increases.

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