Nigerian Newspapers: Brewing industry choking over high cost of raw materials

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In Vanguard’s Nigerian Newspapers review programme, Today in the News, Vanguard reports that the brewery industry is now facing severe cost pressure as prices of local raw materials rise astronomically undermining their backward integration strategy.

The Vanguard report says industry stakeholders said the cost pressures coming from sorghum, wheat and others would remain elevated, driven by the impact of rising inflation, insecurity across agricultural belts in the country as well as other macroeconomic challenges.The Punch reports that petrol scarcity is gradually surfacing in Lagos and other parts of the country as private depot owners hike the ex-depot price from n630 to n720 per litre.

The Nation reports that the Economic Community Of West African States has re-elected President Bola Tinubu as Chairman Of Heads Of State And Government. In Today In The News, Daily Trust reports that petrol queues are surfacing in many parts of the country as a result of a sudden disruption in the supply chain by natural factors.

 

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