Price Of Bread In Nigeria May Increase By 60% – Bakers’ Association
Bakers in Lagos State have said that they may be forced to increase the price of bread by 60% except an urgent intervention by the government changes the situation.
They lamented that the increase in prices of baking materials, caused by the COVID-19 pandemic currently ravaging the world is responsible for the possible increase in the price.
They, therefore, called on both the federal and state governments to urgently intervene to prevent the expected price increase.
This was contained in a statement jointly issued by the Lagos Chairmen, Association of Master Bakers and Caterers of Nigeria, Kosofe and Surulere local chapters, Comrade Taiwo Akintola and Comrade Ibitoye Oladapo.
They noted that their members are battling with high cost of baking materials which has continued to escalate, adding that this is posing a huge challenge to the operation of their members with many of them finding it difficult to make profit based on the prevailing circumstances.
“A bag of flour that costs N9,000 before COVID-19, now goes for N13,000, while a bag of sugar now costs N24, 000 as against the former price of N13,000.”
“Butter is now #12,000 against #7,500, while Milk which was hitherto #29,000, now goes for #52,000. And there is an increase in the Bread Packaging cost which is now #12 ,000 against the former price of #10,000″, the bakers said
They added that the instability of foreign exchange, high cost of diesel and other baking materials were responsible for their urgent plea for an intervention by the government.
“And that is why we are pleading with Federal Government to intervene in this matter by talking to flour millers and baking material sellers to bring the prices down.
“Master bakers association is one of the largest employer of labour in the country and most of the bakeries are folding up, many Nigerians working in the bakery sector are already losing their jobs.”
“If we are supposed to follow the trend of increase in the prices of raw materials for our production, the prices of bread may increase by 60%,” they added.