Guinness Nigeria has announced price increases for several of its products.
In a memo dated November 8 and signed by Commercial Director Olusanya Adesanya, the company stated that the new prices would take effect from November 11.
Guinness Nigeria, known for its alcoholic and non-alcoholic drinks like Guinness and Malta Guinness, attributed the adjustments to prevailing economic conditions.
“This is to inform you of the price change on some of our BEER SKUs/brands effective Monday November 11, 2024, as shown in the table below,” the memo reads.
“This is due to the prevailing economic realities which have impacted significantly on our current cost of doing business.
“Whilst appreciating your valued partnership, please be assured of our commitment to continue to support your distribution efforts as usual.”
Speaking on the new products’ prices; the company said a crate of large Guinness will cost N13,590 for wholesalers, N14,070 for retailers, and N1,300 per bottle.
For medium Guinness, the organisation said wholesalers will now pay N16,230 for a crate, retailers will pay N16,610, and a bottle will cost N1,100.
“Small Guinness (Wholesalers N17,570, Retailers N18,020, and per bottle N900); FES Can (Wholesalers N23,580, Retailers N23,965, and per bottle N1,100); Orijin Can (Wholesalers N16,600, Retailers N17,015, and per bottle N900),” the company said.
The company said the new wholesale price for the Guinness Smooth brand is N16,230, noting that retailers will pay N16,610, while a bottle will be sold for N1,100.
“Guinness Smooth Can (Wholesalers N23,580, Retailers N23,965, and per bottle N1,100); Malta Guinness Classic (Wholesalers N12,655, Retailers N13,500, and per bottle N700); Malta Guinness Can (Wholesalers N15,385, Retailers N16,025, and per bottle N800); Dubic Malt RGB (Wholesalers N11,795, Retailers N12,590 and per bottle N650); and Dubic Malt Can (Wholesalers N14,265, Retailers N14,880, and per bottle N750),” the memo further reads.
Earlier this year, Nigerian Breweries (NB) Plc also raised its product prices to help offset the impact of rising input costs.
