International Breweries hikes prices of beer, other products as cost of production spikes



International Breweries, makers of Hero, Trophy, Budweiser and other brands, has announced increase in prices, noting in a statement, that reviewing prices 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, Budweiser, Hero Beer, Eagle Extra Stout, Trophy Stout, Beta Malt, and Grand Malt, etc.

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 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

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