The company stated that the new price will be effective Friday, March 15, 2024.
It explained that the upward
review is necessary considering the continued rising input cost in the country.
It stated, “As earlier
informed, we will review some of our SKU prices effective Friday, 15th March
2024. This review has become necessary because of the continued rising input
cost and the need to mitigate the impact.
“All open orders in our system
at 00.00hrs on Friday 15th of March, 2024, will be invoiced at the new prices.”
The increment is coming barely
a month after it announced an initial price increase on some of its products,
effective Monday, February 19, 2024.
Heraldviews reports that in its
2023 financial report, the company revealed that it made a loss of N106 billion
for the period compared to the N13 billion profit it realised a year before.
The company explained that the
Nigerian business landscape, which experienced a significant shift in 2023 with
a substantial impact on businesses and livelihoods nationwide, affected the
company’s performance.
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