The President of the Premium Bread Makers Association of Nigeria, Mr Jemide Tosan have warned that the price of bread may soon be increased.
Mr Tosan said this at a briefing, in Lagos, on Monday, noting that the cost of the production of bread increased because of the increase in the price of the ingredients for baking.
He emphasised that there is a 57 percent increase in the price of diesel, which is used to power factory generators on a 24-hour basis
In his words, “The challenges we face as a result of the incessant increase in the prices of baking ingredients have rendered most premium bakeries comatose making us to operate at a loss. Given the current situation, most premium bakeries may be forced to embark on a price increase, which will further make bread unaffordable to the common man".
He also said that although the prices of sugar, flour and other baking ingredients had increased threefold in the past three years, there had been no corresponding increase in the price of premium bread.
He added that the association is committed to making sure that Nigerians have affordable, quality and healthy bread on their tables.
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