Alcohol drinkers to spend more money as Nigerian breweries increase price of beer amid economic hardship

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Alcohol consumers in Nigeria will be forced to spend more as the Nigerian Breweries (NB PLC) announced a price increase on all their products effective August 10, 2023.

The decision of the NB PLC was conveyed in a letter dated 1st August 2023.

The company cited the need to review prices due to the continued rise in input costs and the necessity to mitigate its impact.

“This is to inform you that we will review the prices of some of our SKUs effective Thursday 10th August 2023.”

The decision to raise prices is attributed to several factors that have put immense strain on the Fast-Moving Consumer Goods (FMCG) industry.