The Premium Breadmakers Association of Nigeria and the Association of Master Bakers and Caterers of Nigeria has threatened to increase bread price should the current high cost of ingredient persist.
The Bakers association revealed their intention during a press conference held in Lagos State on Thursday, September 10, Naija News understands.
According to them, they would be left with no option but to react to price increase in baking ingredients by increasing the prices of bread. Speaking on Thursday, Tosan Jemide, the President, PBAN, lamented that businesses had been stagnant due to the incessant increase in the prices of baking ingredients.
Jemide noted that in the last six months, “the prices of flour, sugar and other baking ingredients had skyrocketed without a corresponding increase in the prices of bread by member bakeries.”
He said, “We have been busy helping them remain profitable while our businesses suffer, because we are more in tune with the purchasing power of the consumer and are deeply concerned about food security.
“PBAN and AMBCN shall no longer take seat and watch such blatant increases in prices going forward. We shall react with equal price increases or stiff resistance.”
The PBAN president urged the federal government of Nigeria to intervene in the rising cost by prevailing on sellers and imploring millers to put a stop to the incessant increment of the prices of commodities.
He particularly requested that President Muhammadu Buhari should help the industry by reining in on the millers or supporting them in whatever way they could to help the manufacturers and distributors with forex.
Meanwhile, the Peoples Democratic Party (PDP) has asked President Muhammadu Buhari to reverse the increase in fuel price and electricity tariff.