Price of Bread to Increase over Rising Cost of Essential Materials
The Price of Bread, an essential commodity in the Nigeria may soon be increased to rising cost of essential commodities like flour and sugar.
This was revealed by the Premium Bread Makers Association of Nigeria who warned about the increase at a press briefing in Lagos.
The President of Premium Bread Makers Association of Nigeria, Mr. Jemide Tosan, while speaking to newsmen during the press briefing noted that the cost of producing bread has increased due to an increase in prices of baking ingredients.
Asides from the increase in prices of the baking ingredients the association of bread makers also pointed out that a 57 percent increase in the price of diesel will affect the price of bread in the market significantly because most bakeries in the country use diesels to power generators for production 24 hours a day.
According to the Bread makers association;
“The challenges we face as a result of the incessant increase in the prices of baking ingredients have rendered most premium bakeries comatose making us to operate at a loss.
Given the current situation, most premium bakeries may be forced to embark on a price increase, which will further make bread unaffordable to the common man.”
The bread makers also explained that while the prices of flour, sugar and other baking items had skyrocketed exponentially in the past three years, there had been no corresponding increase in the prices of premium bread by its members across the country.
He, however, said the association is totally committed to ensuring that Nigerians have healthy, quality, affordable and harmless bread on their tables.
The prices if essential commodities have been on a steady rise in the Nigerian market due to certain import restrictions as well as the violence in the middle-belt which is causing food shortage in the country.
Thousands of farmers are unable to plant or harvest crops due to fear of attacks by bandits, herdsmen as well as Boko haram insurgents. This has led to an exponential increase in the price of essential commodity in the Nigerian Market.