Economic woes deepen as bakers hike bread, biscuits prices by 30%

The economic hardship in the country has taken a new dimension as the Association of Master Bakers and Caterers of Nigeria (AMBCN) has directed its members to increase the prices of bread, biscuits and other baked items by 30 percent due to the rising cost of production.

Bread and biscuits are common consumable items in many Nigerian households and before the association gave this directive, many had lamented the sharp increase in cost of items across the country.

• Lawan wants procurement process for security agencies reviewed
• Why Buhari didn’t attend Attahiru, others’ burial – Presidency

At the National Executive Council (NEC) meeting of the association held in Abuja recently, members lamented the cost of production and reached the resolution of raising prices.

The national president of AMBCN, Mansur Umar, said the price adjustment was as a result of the sudden increase in the cost of production as well as prices of sugar, butter, yeast and flour.

While commending the federal government for resuscitating the cassava flour programme, the association bemoaned the skyrocketing price of regular flour in the last six months with one truck of flour which cost less than N6 million is now N9m.

“After considering the impact of the skyrocketed prices of baking ingredients/materials for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent,” he said.

The association also resolved to ask the federal government to reverse the tariff regime imposed by the National Agency for Food and Drugs Administration and Control (NAFDAC) and to streamline bakers’ regulation by NAFDAC only.

Also speaking, the national secretary, Jude Okafor, was hopeful that the federal government will meet their demands to avert the increase.