The Head of Media and Marketing, NB, Wasiu Abiola,who disclosed this in Lagos at a media parley,said the company is taking a bet on the Nigerian Market.

“We have been here for over 77 years, we have no plans to exit Nigeria,” he said.

He said the company is a part of the economy and faces the same challenges others are facing, thus the price review is necessitated to sustain the company.

The company had recently issued a new price review notification to all its customers in the West Zone.

According to a letter dated February 12, 2024, the price review, effective February 19, 2024, is deemed necessary to offset the impact of increased production expenses.

“This is to inform you that we are constrained to review the prices of some of our SKUs with effect from Monday, February 19, 2024.

“This review has become necessary because of continued rising input costs and the need to mitigate the impact,” the statement said.

Abiola added that despite the economic challenges, the company is still having innovation at the core of its being, stressing that new products and campaigns to keep their customers satisfied will be launched.

Speaking,Obinna Aneke, Innovation Manager, NB, said the company is poised to redefine the beverage space by continuously evolving with the taste of the consumers.

“Beverages have not evolved in terms of taste, so what we have done is to bring some excitement so that people will find them more exciting,” he said.

Responding to the question of reduction in the quality of their product due to the economic challenges, Aneke assured that the company will retain its standard quality irrespective as the consumers’ satisfaction is their utmost priority.

The five major portfolio managers who gave a detailed explanation of their brand and how each of these portfolios have been working on innovations to ensure that the consumers’ satisfaction is achieved.

According to Laolu Babalola, Portfolio Manager for Mainstream Beer, the history of Alcoholic beverages in Nigeria is synonymous to the history of the company.

The mainstream portfolios have been able to produce beers that suit the taste of the different regions of the country.

Also, Babalola disclosed that the company through the portfolio has initiated schemes to support entrepreneurs due to the current state of the economy.

He said: “We empower people who are working by supporting their businesses.”

Babalola further disclosed that the company is looking into producing wine, spirit and other flavored drinks as part of its sustainability plans.

“We are getting into production of wines, spirits and other flavored drinks. we believe this is the way to protect the future,” he hinted.

On his part, Eloho Olumide, said the company is dedicated to giving back to the society through various initiatives such as the Maltina Teacher of the year Award which according to him would be a decade long this year.