Nigeria: Prices of bread, biscuits, others skyrocket by 30% over hike in production cost

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The Association of Master Bakers and Caterers of Nigeria (AMBCN) has directed its members nationwide to increase the prices of bread, biscuits, and other items by 30 percent.

In a statement released by its National President, Mansur Umar, after a National Executive Council meeting Abuja, the association explained the adjustment in price was as a result of the sudden increase in the costs of production as well as prices of sugar, butter, yeast, and flour.

“After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent.”

The association called on the Federal Government to intervene and reverse the high tariff regime imposed by the National Agency for Food and Drugs Administration and Control (NAFDAC) and streamline regulation by allowing only NAFDAC to regulate bakers. The association also kicked against the incessant increase in the price of flour as it is forcing its members to close their businesses.

“The incessant increase of prices of flour and other baking materials is responsible for the decision. In the last six months, one truck of flour that we used to buy at less than N6m is now N9m,” the statement read in part