Bakers in Nigeria are set to increase prices of bread, biscuits and other flour products.
The bakers under the aegis of Association of Master Bakers and Caterers of Nigeria (AMBCN) directed its members nationwide to increase prices of bread, biscuits and other items by 30 percent due to devastating economic situation of the country.
The association sighted the sudden increase in the costs of production as well as prices of sugar, butter, yeast and flour as the motive behind the price inflation.
The directive was part of the resolution reached at the end of the National Executive Council (NEC) meeting of the association in Abuja.
National President of the association, Mansur Umar, who read the resolutions explained: “After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent.”
It called on the Federal Government to intervene and reverse the high tariff regime imposed by the National Agency for Food and Drugs Administration and Control (NAFDAC) and streamline regulation by allowing only NAFDAC to regulate bakers.
Besides, the association frowned at the incessant increase in the price of flour as it is forcing its members to close their businesses.
While directing members across the country to increase prices of their products to at least 30 percent to cushion effects of high cost of production, AMBCN called on the Federal Government to take immediate steps towards reducing the high price of flour as it is killing the business.
“The incessant increase of prices of flour and other baking materials is responsible for the decision.
“In the last six months, one truck of flour that we used to buy at less than N6m is now N9m,” the association said in a statement.