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Business & Finance

Nigeria: The Price of Bread Will Soon Be Increased – Master Baker

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According to Chief Simeon Abanulor, the National Chairman, Association of Master Bakers and Caterers of Nigeria, the price of bread in the country will soon be increased.

According to him, this is necessary “to enable bakers to remain in business.”

“We are helpless because the price of raw materials ranging from flour to sugar, wheat and butter, has gone up,” he said at a news conference in Umuahia, Abia state on Friday.

As a result, most bakers are struggling to stay in business, he said. “It is therefore imperative that for us to remain in business, we will have to increase the price of bread.”

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Abanulor said they had tried to discuss with flour producers to reduce their inflated prices but were rebuffed.

“They told us that there is nothing they can do because the Federal Government is not giving them foreign exchange and that they source it by themselves at the parallel market.

“They maintained that they cannot sell below their cost price.” Abanulor explained

Herald


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