The Nigerian Breweries, NB Plc, has said that it will pass on to consumers, in the most optimal way possible, the recently introduced Excise Duty on non-alcoholic drinks

Managing Director/CEO NB, Mr. Hans Essaadi, disclosed this at a pre Annual General Meeting AGM, in Lagos saying that the company also aims to complete capacity extension so as to enable it meet more of consumer demand.

Essaadi said: "Country volatility remains a high risk on macro-economic indicators, security and infrastructure. Excise Duty has just been introduced on non-alcoholic drinks and we aim to pass these on in the most optimal way possible. It is also a pre-election year with pre-election spending expected to increase consumer spending.

"We have the history, footprint, brand portfolio and people to capture the expected growth in Nigeria. In 2022, we aim to complete our capacity extension enabling us to meet more of the customer and consumer demand," he said.

Also speaking, Company Secretary/Legal Director, Uaboi Agbebaku, said: "When it comes to determining the issue of pricing it is not a rule of thumb the approach we adopt, we adopt a scientific approach to this and it is about looking at the market dynamics, the pricing and margin in the market and also looking at the brand power.

"It is all of these we put together before making a decision whether we are going to make a price increase or not. Doing business in Nigeria you must be on your feet, as the dynamics change you also change your approach and thinking but again we cannot just wake up and change prices," he said.

Vanguard News Nigeria

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