The General Secretary of the Premium Bread Makers Association of Nigeria, Emmanuel Onyoh, has attributed the frequent hikes in the price of bread to the skyrocketing costs of baking materials.
Onyoh also said inflation was the major threat to the survival of small and medium enterprises in Nigeria.
Speaking during the 10th-anniversary celebration/customer appreciation and staff awards of Breadworth Bakery in Lagos recently, he called on the Federal Government to come to the aid of bakers by reducing the pressure on the economy.
He also urged the government to put in place business-friendly policies to mitigate the hardship that the masses were undergoing occasioned by fuel subsidy removal.
He said, “The reason a loaf of bread has changed position over the years is because there has been inflation in the economy. Practically, all our raw materials are imported and because of the exchange rate, it has not really helped matters because we know what it was and what it is today.
“The price of bread is what it is today because inflation has gone up. As we speak, a bag of flour is sold at N35,000 per bag. This is something we used to buy at less than N20,000 a few years back. A bag of sugar costs N42,000 per bag.
“Preservative is about N57,000 per bag of 20kg while a carton of butter is between N22,000 and N25,000 and so on. Government tax is high on us; different agencies are milking us.”
The general secretary of the bakers’ association lamented the closure of some bakeries and begged the government for urgent intervention to prevent the closure of more bakeries.
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