A lawsuit alleging copyright infringement against Nigerian Breweries is dismissed by the court.

A new notification of a price review has been sent to all of Nigerian Breweries Plc’s West Zone clients.

In a letter dated Monday, February 12, 2024, it is stated that in order to counteract the effects of higher production costs, a price review will take effect on Monday, February 19, 2024.

“We would like to notify you that, as of Monday, February 19, 2024, we will be reviewing the prices of some of our SKUs due to constraints.

The statement stated, “This review has become necessary due to the ongoing rise in input costs and the need to mitigate the impact.”

The business guaranteed that orders placed before the deadline and paid for in full would be fulfilled at the current rates.

However, orders that surpass the designated quantity window will be subject to the revised pricing.

We would like to express our gratitude for our wonderful partnership and your dedication by offering to deliver all open orders that are fully funded and created in our system by 00.00 hrs on Monday, February 19, 2024, at current prices.

You will receive word from your Regional Business Manager (RBM) regarding the precise number of orders that are permitted.

The statement further stated, “Any order exceeding this quantity will be re-invoiced at the new price on February 19, 2024.”The FMCG company’s price adjustment is thought to have been a result of growing production costs made worse by fluctuations in foreign exchange rates.

Recall that as of this moment in December 2023, no fewer than seven multinational corporations have either left the country or announced that they plan to do so.

January 2023 is when this begins.The skin care and home care divisions of Unilever announced in March that they were leaving Nigeria.

Just four months later, in July 2023, GSK Consumer Nigeria Plc, the British pharmaceutical behemoth and second-largest drug producer in Nigeria, announced that it was ceasing operations in the country.

Sanofi, a French multinational pharmaceutical company, made the announcement that it was leaving Nigeria, similar to GSK Plc.

Some of these businesses are closing their doors in as little as three years after they announced their arrival, while many have been operating in Nigeria for decades.

Prior to 2023, the power crisis, the naira’s continuous devaluation, the availability of foreign exchange, and other strict government policies presented difficulties for both domestic and foreign manufacturers operating in Nigeria.

However, many things changed after President Bola Ahmed Tinubu took office on May 29, 2023, including inflation on all fronts.

In his inaugural speech, President Tinubu ordered the Central Bank of Nigeria (CBN) to start reforming monetary policy and announced the removal of fuel subsidies, which now affect Nigerians across all socioeconomic classes.

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