The President of Premium Bread Makers Association of Nigeria, Emmanuel Onuorah, has warned that the cost of bread might skyrocket with the rising inflation, fuel hike and power instability in Nigeria.
Onuorah, who spoke on TVC News on Wednesday, lamented the high running cost of producing bread, and noted that these would impact on prices of bread.
He said, “Bread is going to get more expensive. the horizon is not looking good at all. We are in a precarious situation, people are losing jobs by the day.
“As an installed capacity of 100 per cent, I am doing 30 per cent now. Cost does not match expenditure. For us as Premium Bread Makers Association of Nigeria, and as bakers generally, we are facing a very tolling time, we are indeed bleeding.
“Flour has increased in the last one month, between 18th of May till date, flour has increased by about N2000, and for every N1000 increase in flour, you have about N15 shared off your margin.”