NB expressed concern over a proposed tax stamp regime for excise verification and product tracking.
The company said the immediate impact of the incident was largely limited to the empty crates stored in the facility.
It stated that the reviewed prices, to take effect on March 20, would affect selected products in its stock-keeping units.
Meanwhile, 37 equities depreciated in price, higher than 36 in the previous week.
Some of the measures would include relocating and redistributing its employees to the other seven breweries.
“We have been in Nigeria for more than 77 years and while it has been challenging in recent times for many Nigerian businesses,” said the brewery.
Mr Awosanya attributed the continued rise in input costs to the hike in the prices of its products.
The company however grew its revenue by nine per cent to N599 billion.
Nigerian Breweries PLC has announced plans to increase the prices of its products starting Monday, February 19, 2024.
“The chairman informed the board of his decision to offer himself for public service.’’
