The Association of Master Bakers and Caterers of Nigeria in Abuja expressed worry on Tuesday that the country’s escalating cost of baking supplies had become unsettling.
In an interview with the Nigerian News Agency of Nigeria in Abuja, some Association members expressed concern over the country’s escalating costs for flour, sugar, yeast, and other baking supplies.
When speaking with NAN in Abuja, the manager of Nextar Bakery, Ms. Peace Izeduwa, revealed that many bakeries may have to close due to the increased cost of ingredients.
Izeduwa claimed that the FCT’s bakery enterprises had been impacted by the recent 15% increase in the price of bread.
Ms. Izeduwa pointed out that the removal of fuel subsidies and the fusion of the foreign exchange window were significant variables that had an impact on the rise in the price of baking supplies.
“Mix and Bake Flour was previously priced at N29,500 but has since increased to N33,750; the same is true of other raw materials.” It’s difficult for bakery operators to raise product pricing in the same manner that producers do with raw materials.
According to the manager of the Abuja-based Nextar Bakery, bakers in the Federal Capital Territory are dissatisfied with the unusual surge in pricing since less than a month ago, when the price was hiked by 15% due to the rise in raw materials.
Izeduwa urged the government to act to address the problem and protect the sector by addressing the rising cost of baking supplies.
According to NAN, AMBCON announced a 15% rise in bread prices on July 24 in accordance with a decision made by the association’s National Executive Council.
The AMBCON leadership said that the decision to raise bread prices was in keeping with the nation’s current economic conditions, which had a detrimental influence on bakers’ production costs.
The chairman of the FCT Master Bakers urged bakers to persevere. He acknowledged that “a lot of our members are already losing hope and confidence” and pleaded with “the government to please look into the sector as it’s clearly in trouble.”
