Price of bread skyrockets in Kano | Dailytrust

Price of bread skyrockets in Kano

Bread price has risen in Kano, a situation the Association of Bakery Owners in Kano state, have attributed to the increased price in flour and other ingredients.

Daily Trust reports that the increase began on Saturday and has affected bakeries in the state.

Secretary of the association, Kabiru Hassan Abdullahi, said they have no other alternative than to increase the price to reflect the market reality.

“It is true that we have increased the price and it took effect on Saturday. The truth is, we are into business to make profit, and recently, there has been an increase of almost N4,000 in the price of a bag of flour,” Abdullahi confirmed.

“For every loaf of N50, N60 and N70, we have added N10 to their previous prices. As for N100 and N150 loaves, we have added N20, while the loaves of N200 and above got an addition of N50 each.

“If you go to market, you’ll discover that the prices of virtually all the ingredients have skyrocketed.

“Most buyers would rather prefer we lower the quality of the loaves instead of hiking the price, but that’s not proper,” the secretary added.

A tea seller in the Kofar Waika area of Kano metropolis, Abdullahi Garba said as of Monday morning, he has not observed any increase in the bread price.

“I suspect that this is what they did this time around also, since they said the price has been increased since Saturday and today is Monday, yet the price remained unchanged,” Garba added.

Residents who buy the loaves as their daily staples for breakfast said the new price hike will affect their spending.

Auwal Sadauki, a family man with seven children said he used to spend N400 daily for bread, but will now have to increase the amount to reflect the new increase.

Economists see frequent inflation in prices of goods, especially foodstuff as a serious obstacle to national economic growth.