Despite the relative foreign exchange stability in the last two weeks, rising operating costs, skyrocketing prices of raw materials, high energy and transport costs amongst other issues have seen more local brewers increase the cost of goods.
Guinness Nigeria Plc will, from tomorrow, implement new prices across major product lines. Earlier, International Breweries (ABInBev), increased all product lines while Nigerian Breweries had earlier reviewed its prices, citing the high cost of production.
In a memo to its partners, the acting Commercial Director for Guinness Nigeria, Olusanya Adesanya, blamed the increase on prevailing economic realities, which have impacted significantly on the costs of production materials and the cost of doing business.
Adding that the increase is on select SKUs in their beer and MSS categories, he said it takes effect immediately. Under the beer category, affected drinks…
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