Nigerian bakers hike bread price by 15% over rising input costs

By Onome Amuge.

The Association of Master Bakers and Caterers of Nigeria (AMBCON) has announced plans to increase bread prices across the country by 15 per cent due to the recent rise in the prices of flour, sugar, and yeast on other key inputs used in the production of the staple food.

AMBCON said  the increase  will take effect from Monday, July 24 and  is sequel to a resolution reached by the national executive council of the association during a virtual meeting held recently.

The association explained that the resolution was reached owing to the country’s current economic realities which are impacting negatively on bakers’ production costs nationwide.

AMBCON, in a statement jointly signed by Mansur Umar, the national president and Jude Okafor, the national secretary of the association, stated that the recent general increases on factors of production including but not limited to additional N1.2 million on a truck of flour (N2,000 per bag), N3.6 million on a truck of sugar (N6,000 per bag),a N2000 increase in yeast price per carton, fuel increase from N205 to N550, and rise in price of diesel from N650 to N700 (depending on the part of the country) among others.

“Effective 24th July 2023 as an interim measure, all members of the Association of Master Bakers and Caterers of Nigeria (AMBCN) are hereby advised to adjust their prices by 15 percent in consonance with the now heavily increased cost of factors of production across board,”AMBCON said.

According to the association, it can only produce standard baked products following regulations implemented by the  National Agency for Food and Drug Administration and Control (NAFDAC) regulation, noting that it cannot sacrifice the healthNigerians  on the altar of breaking even point by resorting to unhealthy practices.

AMBCON appreciated Nigerians for their understanding and cooperation as they grapple with the extra burden on them with the imminent increase while promising to revert the price if there are significant government interventions.

The association, therefore,  called on the government to intervene urgently and save the industry from total collapse.