The Nigerian Premium Breadmakers Association, Nigerian Master Bakers and Caterers Association threatened to raise the price of bread if the current high cost of the ingredient continues.
The Bakers Association declared its intention at a press conference held in Lagos State on Thursday, September 10, which Top Gist Portal understands.
According to them, they will be left with no choice but to respond to the price rise of the baking ingredients by increasing the price of bread. Speaking on Thursday, Tosan Jemide, President of PBAN, lamented that the companies had been stagnating due to incessant rise in the prices of baking ingredients.
Jemide observed that over the last six months, ‘the prices of flour, sugar and other baking ingredients have risen without a corresponding increase in the price of bread by member bakeries.’
He said, “We have been busy helping them to stay viable while our companies struggle because we are more in tune with the buying power of customers and are profoundly concerned about food security.
The President of the PBAN urged the Nigerian federal government to intervene in rising costs by imploring sellers and millers to avoid the incessant rise in commodity prices.
In particular, he requested that President Muhammadu Buhari aid the industry by reining in the millers or by helping them in any way they could to aid forex manufacturers and distributors.