Bakers Say Bread Price Will Go Up Nationwide By 15 Percent From July 24
Bakers has announced plan to raise the price of loaf of bread across the country, as from July 24.
Association of Master Bakers and Caterers of Nigeria said price of bread will be increased by 15 per cent.
The association announced the decision at the end of the meeting of its National Executive held on Tuesday in Abuja.
The association’s President, Mansur Umar and National Secretary, Jude Okafor said the decision followed a fresh increase in the cost of production in the bakery industry.
According to them, there had been a sharp rise in the price of yeast, flour,sugar and diesel which are threatening the industry.
He asks federal government to intervene in the rising prices of baking inputs to save the baking industry from collapse.
The group, in a statement signed by its national president, Alhaji Mansur Umar and national secretary, Mr. Jude Okafor, said the recent general hikes in their cost of production necessitated the new development.
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“The recent general increases in our factors of production include, but not limited to additional N1.2 million on one truck of flour (N2,000 per bag), N3.6 million on a truck of sugar (N6,000 per bag), yeast additional N2,000 per carton, fuel from N205 to N550, diesel N650 to N700.…,” the statement reads in part.
The statement also said many bakers are already unemployed, with the number still growing due to the imposition of various taxes on flour millers that are ultimately transmitted to them.
“Effective 24th July 2023 as an interim measure, all members of the Association of Master Bakers and Caterers of Nigeria (AMBCN) are hereby advised to adjust their prices by 15 per cent (in consonance with the now heavily increased cost of factors of our production) across the board as we can only produce standard baked products in accordance with NAFDAC regulations as we cannot sacrifice the health of our fellow country men and women on the altar of breaking point by resorting to unhealthy practices pending further resolutions as we call on federal and state governments to intervene urgently and save our industry from total collapse,” the association said in the statement.
