Beer consumers in Nigerians will soon begin to pay more for
beer as the impacts of continuous fall in oil price in the international market
has begun to have serious effects on the economy.
This will drastically reduce the consumption of beer and
other alcoholic related products.
SABMiller Plc (SAB), a leading alcoholic beverage
manufacturer said it is expecting beer volume growth in Nigeria to fall this
year as lower oil prices affect consumption. He added that the fall will also
be as a result of African markets which have become competitive over the years.
Mark Bowman, managing director of the brewer’s Africa unit
said the company, which forecasted an 8 per cent beer volume growth in Nigeria,
may now see that rate slow to 3 per cent or 4 per cent.
Bowman said: “These are normally bumps along the road. On
balance, we see things getting back to trend.
“SABMiller also expects to raise prices in the country in
line with what its rivals are doing,” Bowman said.
Oil prices have continued to fall more than 50 per cent in
the past year, threatening economic growth in Nigeria despite being the largest
oil producer in Africa. The nation with the population of 170 million people
has general election scheduled for February.
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