Nigerians who like taking bread, meat pie and other products made with wheat and flour should brace up to pay more for them.
This is because the Nigeria Bakers Union and their counterpart, the Premium Bread Makers Association of Nigeria (PBAN) have said the Russia and Ukraine war and the harsh economic condition have forced them to increase the price of bread, meat pie and associated products by as much as 50 per cent.
PBAN added that the price of diesel, which was sold for between N250 and N300 per litre before the war, has increased to between N700 and N900 as of March 28, 2022 in Lagos and even higher outside Lagos State.
President of PBAN, Emmanuel Onuorah, who disclosed this in Lagos, said the current economic situation and harsh economic climate have made most members of the association to close their bakeries and shops, The Trumpet gathered.
The current economic situation the high price of diesel, epileptic power supply, high cost of wheat due to the Russia and Ukraine war have left us with no other choice than to increase the prices of our products by as much as between 50 and 100 per cent, if we must break even.
“The only choice left to us is to either increase our products or shut down our operations.
Most of our members have shut down their bakeries, as they can no longer break even, while some have decided to increase the prices of their products or forced to stay out of business due to the crippling economic situation,” he said.
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Onuorah expressed concern over government’s poor attitude towards addressing the harsh operating environment faced by members of PBAN in particular and other businesses.
He said: “Companies are shutting down their businesses as a result of the increase in the price of diesel and electricity bills. Some of my members have shutdown their business premises. So many other companies are in the process of closing down.
“As we speak, operators of sachet water business are on strike due to the harsh operating environment. They ‘ll likely increase the price of sachet water to N25 or N30. We don’t even know where this thing is leading. Bigger companies are closing because of operating costs. Many businesses are going under,” he lamented.
According to Onuorah, wheat suppliers have suggested a possible scarcity of the product in the next two to three weeks, adding that the price of bread, meat pie and related products might have to increase again.
“We understand that in two to three weeks, there will be scarcity of wheat and flour. We have been informed that a bag of wheat will rise to between N30,000 and N40,000 per bag,” he added.
