Fakoyejo OlalekanThe cost of raw materials has forced Nigerian bakers to increase price of bread by 20%, while some have chosen to proceed on a four days warning strike, to compel government into intervening.
Cross River bakers said they will raise price of bread to reflect the market realities. According to the Cross River leader, Thomas Odey, the increase is inevitable as the price of ingredients, including wheat, have made of cost operation to skyrocket.
Join our WhatsApp Channel“The planned increment is not even enough, this is because the price of every means of production has increased from condiments to diesel and all other raw materials.
“This is a global issue that is not peculiar to Nigeria or materials for baking alone, but the price of every foodstuff has increased significantly.
“In my contacts with big flour mills in the country, they will tell you the Russia/Ukraine crisis, exchange rate and the issue of sourcing foreign currency are posing major challenges and increasing the price of wheat flour.” Odey told NAN.
The Cross River bakers won’t go on the nationwide strike proposed by Premium Breadmakers Association of Nigeria (PBAN), which is meant to protest multiple taxation from various government agencies, as well as cost of licence renewal.
The association also demanded the exclusion of imported wheat from the list of taxable items to reduce the cost of operation, in an economy battling with 18.6% inflation rate, couple with the 14% interest on borrowed funds.
The chairman of Association of Master Bakers and Caterers of Nigeria in Kogi, Gabriel Bamidele-Adeniyi, said, “Although the federal government is yet to respond to our pleas and demands, we are satisfied that we have at least sent a message hoping for a positive result.
“Unfortunately, as we resume production July 25, prices of bread will increase by 20 percent. A bread of N200 will cost between N240 and N250, that of N500 will cost N600, that of N600; N750, that of N700 will cost N880 and that of N800; between N980 and N1,000, respectively.”
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