Inflation: Bakers To Raise Bread Price This Week

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Bakers are expected to increase the price of bread this week following a hike in the price of condiments used for bread production.
Amidst rising costs of essential items, data reveals that food inflation has reached 33.98 per cent, with most food items experiencing a hike between 70 and 80 per cent over the last six months.
The president of the Premium BreadMakers Association of Nigeria (PBAN), Emmanuel Onuorah, stated that this step was necessary because there had been an increase in production costs.

He explained that flour, a major ingredient, is now being sold between N55,000 and N60,000; sugar at about N85,000 while softener goes for almost N1 million.
Onuorah further lamented the inability of bakers to produce bread as most bakeries remain shut due to lack of diesel and public energy.
“As I speak to you, I am not producing bread because my bakery is shut down. I do not have diesel and there is no public energy. Diesel is N1,600 per litre and difficult to buy, the same with power generators. So, expect big-sized loaves will sell for N2,000 or more while small-sized ones will be sold between N1,000 and N1,200,” he said.

Onuorah expressed shock that, despite bread being a staple food in the country, the government is yet to intervene over its soaring prices like it did with cement manufacturers recently when they increased their prices.

He advised President Bola Tinubu to seek help from competent individuals irrespective of political affiliations or tribes since there are reputable economists within Nigeria who can assist him during these trying times.
“The president should call upon well-meaning Nigerians for help since there is nothing wrong with seeking assistance. We are all Nigerians; we can work together towards achieving our goals.,” he said.