Business
The Premium Bread Makers Association of Nigeria have warned that the price of bread may soon increase.
The President of Premium Bread Makers Association of Nigeria, Mr Jemide Tosan, said this at a briefing in Lagos on Monday. He noted that the cost of producing bread has increased due to an increase in prices of baking ingredients.
He pointed out that there is a 57 percent increase in the price of diesel, which is used to power factory generators on a 24-hour basis.
“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,” he said.
He explained that although the prices of flour, sugar and other baking items had increased threefold in the past three years, there had been no corresponding increase in the prices of premium bread by its members.
He, however, said the association is totally committed to ensuring that Nigerians have healthy, quality, affordable and harmless bread on their tables.
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