Dwindling Economy | Bread price goes up in Lagos

The Lagos State Association Of Master Bakers and Caterers Of Nigeria, will on Wednesday increase the price of bread by 20 percent.

Speaking at a press briefing in Lagos, the chairman of the association, Prince Jacob Adejorin, lamented the high cost of producing bread and called on the Federal Government to look into the high cost of baking ingredients.

According to him, the prices of baking ingredients like flour, sugar, diesel, salt yeast, kerosene and nylon have tripled without any corresponding measures to reduce the hardship on bakers.

”After serious consideration of the high prices of flour, sugar, diesel, salt, yeast, kerosene, nylon and series of local government levies, we are compelled to increase the price of bread 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 price of bread by about 20 percent. The present economic situation 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 the 20 local government areas today (Tuesday) to discuss the development.

“We appeal to our customers and consumers of bread to bear with us at this time. It is our promise to continue to produce good quality bread at an affordable price. We also appeal to the Federal Government to give some concessions to the flour millers in foreign exchange allocation and wave off some taxes and levies in order to stop this incessant increase in flour price so as to keep bakers in business and reduce unemployment.

”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,” Adejorin stated.

[PM News]