The Lagos State Association Of Master Bakers and Caterers Of Nigeria says it will on Wednesday increase the price of bread by 20 per cent.
The Chairman of the association, Prince Jacob Adejorin, who spoke at a press briefing in Lagos, lamented over the cost of producing bread and called on the Federal Government to look into the increased price hike of baking ingredients.
According to Adejorin, the price of baking ingredients has tripled without any corresponding relief to reduce the hardship on bakers.
He explained that a few months ago, a bag of flour was sold for N6,000 while sugar was sold for N7,000 but as at the time of the press briefing, a bag of Flour was N11,000 and Sugar was being sold for N15,000.
“Bakers can no longer cope with this situation hence the decision to increase the prices by about 20 percent,” he said.
Adding that: “The present economic situation in the country 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.”
“After serious consideration of the high prices of flour, sugar, diesel, salt, yeast, kerosine, nylon and series of Local Government levies, that the association are compelled to increase the bread prices as done to other consumer goods.”
He however, appealed to their customers and consumers to bear with them, as they promise to continue producing good quality bread at affordable prices.
“We also appeal to Federal Government to give some concessions to the flour millers in foreign exchange allocation and waving off some taxes and levies in order to stop this incessant increase in flour prices so as to keep bakers in business to avoid un-employment.
“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,” he added.