Bakers want N283bn bread industry rescued

Bread makers on Thursday cried out over the increasing cost of production, calling on President Muhammadu Buhari to save the industry worth over $621m (N283 billion at N383.5/$)  from collapse.

The bread makers under the aegis of the Premium Bread-makers Association of Nigeria (PBAN) and the Association of Master Bakers and Caterers of Nigeria (AMBCN) at a joint press briefing in Lagos said the development in the industry poses threat to food security as bread has become a major staple food in the country.

President of PBAN, Tosan Jemide and the Lagos State Chairman of AMBCN, Alhaji Raji Omotosho who addressed the press called on the government to come to the aid of bread makers “as we can no longer breathe.”

He said the ingredients for bread making including flour, margarine, sugar, vegetable oil, among others have increased drastically.

Between March 2020 and August 2020, the price of flour which is a major ingredient has increased from N10,500 per 50kg bag to N13,500 per bag; Sugar increased from N13,500 per bag to N29,000 and down to N19,000.

According to him, the price of margarine rose from N5,800 to about N11,000; a 25-litre vegetable oil which was N13,000 now sells for N16,000.

“We are therefore calling on the President to help sustain the industry as it strives to excel in its role of food security by checking the millers or supporting them in whatever way they can to help them with forex.

“We request that the government intervenes in the issue of rising cost of baking ingredients by prevailing on sellers as well as imploring millers to put a stop to the incessant increment of price, giving some consideration to the manufacturers.”

He said if nothing is done to rein in the millers, the members would be left with no choice than to “react with equal price increases or stiff resistance.”

Also speaking, Omotosho said if the bread makers respond with similar price increases, many Nigerians might not be able to afford a loaf of bread.