Bakeries across the country may increase the price of bread by 20 per cent following a move by the Lagos State Association Of Master Bakers and Caterers Of Nigeria, which is set to effect the increase as from Wednesday.
The chairman of the association, Prince Jacob Adejorin, at a press briefing in Lagos said the cost of producing bread has risen astronomically.
He said the price of baking ingredients has tripled without any corresponding relief to
reduce the hardship on bakers.
He said: “After serious consideration of the high prices of flour, sugar, diesel, salt, yeast, kerosine, nylon and series of Local Government levies, we are being compelled to increase the bread prices as done to other consumer goods.
“A few months ago, a bag of flour was sold for N6,000 while sugar was sold for N7,000 but just this morning, a bag of Flour is N11,000 and Sugar is being sold for N15,000. The bakers can no longer cope with this situation hence the decision to increase the prices by about 20 percent. The present economic situaton in the country has affected the baking industry as the second largest employer of labour in the country and bread being the most stable and easiest food to lay hands on anytime anywhere. An emergency meeting will hold in all 20 Local Government tomorrow Tuesday.
“We appeal to our costumers and consumers of bread to bear with us at this time, it is our promise to continue to produce good quality bread at affordable prices.We also appeal to Federal Government to give some concessions to the flour millers in foreign exchange allocation and waving off some taxes and levies in order to stop this incessant increase in flour prices so as to keep bakers in business to avoid umemployment. We urge the flour millers to always have bakers in mind whenever any price increase is being considered as we are the end users of their products. All members and bread vendors must adhere strictly to the new price”
It would be recalled that about three months ago, the price of bread was increased, a move that raised the a N50 loaf to N60.