Association Laments High Cost Of Baking Materials, Others

Amid high rate of inflation in the country, the Premium Breadmakers Association of Nigeria (PBAN) has, again raised concerns over rising cost baking materials in Nigeria, saying lack of access to foreign exchange is crippling the baking industry in addition to high levy on raw materials importation of bread production.

The national president of PBAN, Engr. Emmanuel Onuorah, who stated this yesterday in Lagos during a courtesy visit to stakeholders in the baking industry also identified limited prospects for ease of doing business as another key impediment for the baking sector in the country.

He called on the federal government to make favourable and implementable economic policies that would encourage and promote baking in the country.

According to him, it is high time the federal government through a deliberate policy suspended levies placed on wheat and other baking products to encourage investors’ survival in the industry.

Speaking at Lesaffre Africa BA Nigeria Distribution Ltd, Ajah, Lagos, Engr. Onuorah also bemoaned lack of foreign exchange on raw materials by Nigerian banks to manufacturers.

The PBAN president enjoined the French company to establish their production factory in Nigeria rather than importing raw materials from overseas.

He emphasized that setting up the raw materials company would create job employment for many Nigerians and grow a better return on their investment.

In their separate remarks, the Chief Operating Officer, Lesaffre BA Nigeria Distribution, Johnny Halabi called on the Nigerian government to reduce high reliance on foreign exchange for importation of raw materials to the country.