Nigerians should expect a 50 percent hike in the prices of bread – Master Bakers - AFRICAN PARLIAMENTARY NEWS



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Friday, September 11, 2020

Nigerians should expect a 50 percent hike in the prices of bread – Master Bakers


The Association of Master Bakers and Caterers of Nigeria (AMBCN) has said that a 50 percent increase in the prices of bread has become unavoidable.

This was disclosed by the Chairman of the Lagos State Chapter of AMBCN Raji Omotunde in an interview with NAN on Friday.

Omotunde disclosed that the prices of baking ingredients have increased due to the coronavirus pandemic, adding that manufacturers are now running at a loss.

“Prices of all ingredients used for baking are too high, especially flour and sugar. Between March and September, there has been a monthly addition of N500 on a bag of flour and bakers have been bearing the additional cost,” he said.

“But as it is, baking bread and selling at the current price is no longer profitable. We have been appealing to the millers but they are groaning about the absence and increase in price of foreign exchange. The only option we have now is to cry out so that government can come to our rescue.”

He therefore called for government intervention, saying that an increase in prices will affect sales which will consequently affect bakery jobs across the country.

“The association is one of the largest employers of labour in the country and if any bakery should fold up many people will lose their jobs.”

A bag of flour which sold at N10,500 before the outbreak of coronavirus, now sells at N13, 000.

Also, a bag of sugar now sells between N19, 000 and N20,000 depending on bargaining power against the pre-COVID-19 price of N14,000.

The alert on the possible increase of the cost of bread is coming at a time when there is outrage over hike in pump price of petrol and new electricity tariff.


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