The Association of Master Bakers and Caterers of Nigeria (AMBCN), FCT Chapter has expressed concern over the increase in prices of baking materials in the country.
The Chairman of the association, Mr Ishaq Abdulraheem,who said this in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja, said the increase would cripple the business.
Abdulraheem said with the increase in the prices of baking materials like flour, milk, butter, sugar, the survival of the industry could no longer be guaranteed.
According to him, members find it difficult to manage their businesses in the face of this daily increment in prices of baking materials.
The chairman, who called for government intervention, described the industry as an employer of labour.
Abdulraheem appealed to the general public to understand with bakers, as the association is planning an upward review of prices of bread to sustain the business.
The FCT Secretary of AMBCN, Mr Richard Adeyemi, said the rising cost experienced towards the last quarter of 2023 had forced so many businesses to shut down while some managed to survive are yet to stabilise.
“We are not ignorant of the exchange rate of N1, 500 to a dollar that is affecting the prices of every bakery material in the market.
“A bag of flour we bought at the rate of N37, 000 and sugar at N62, 000 last week as of today goes for N42, 000 and N72, 000 respectively.
“All other materials like yeast, margarine, among others are at an alarming rate including diesel which now go for N1,250/ liter as against N1, 050/ liter last week.” he said.
Adeyemi also called for government urgent intervention to rescue the industry from total collapse.
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Ms Peace Izeduwa, Manager, Nextar Bakery, in Kubwa FCT, expressed worries over the impact of the continued increase in the prices of flour, sugar, yeast and other baking materials.
She said the 15 per cent increment on prices of bread had a negative impact on the business, as the prices continued to increase due to the economic crunch. (NAN)
