International Breweries Announces Price Hike Of Beer, Other Products

Date:

May 28, 2024.

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Azonuchechi Chukwu.

International Breweries Plc said it has increased prices of its various product offerings in Nigeria. The brewer said in a statement that reviewing prices in its portfolio has become necessary due to current market realities, and was done 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.

Head of Sales of the company, Olaleye Abimbola, disclosed that it 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 were announced and implemented.

This is the second time the company will increase 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 has led to price hikes across the country. (www.naija247news.com).

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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