Bread price in Nigeria: Why loaf of bread fit increase?

Why price of bread go soon increase?

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E be like say di price of bread for Nigeria go soon increase sake of rising production costs.

Bakers under di Premium Breadmakers Association of Nigeria (PBAN) tok say dem wan increase di price of bread so dem no go shut down dia operations.

President of PBAN Emmanuel Onuorah tell BBC Pidhin say dis na sake of di high cost of diesel and di fact say materials wey dem dey use produce di bread also don drastically increase.

E say dis factors don already make some bakers close dia businesses.

“Many members don close down or sack workers because dem no fit meet up again. Our business dey face loss.”

Onuorah say before di Covid-19 pandemic, flour na between N8000 to N10,300 per bag but now na about N22,500.

Sugar before na N13,000 now N23,500 and dem still dey threaten say di price go still increase.

Softener wey dem dey take make di bread soft well well before N300,000 but now na N650,000 while margarine wey be N5800 don be N18,000.

Egg wey be N800 per crate now na N2200 as well as oda preservatives d dey use all don increase.

“Di worst tin be say diesel wey we dey use run our vehicle and generator for our ovens dem increase am for N350 to N850 per litre as pipo shout dem reduce am to N650 to N700 so how di business wan be?

“Our capacity don reduce by 50%. Pesin wey dey do 100 nags now e dey do 40 bags or less, yet we dey pay tax and provide our own light and water, which kain tin be dis?”

“So as e be so, we dey forced now to increase di price so we go remain in business odawise na die we dey and all do investment you don make go just waste,” Onuorah tok.

‘Cost of materials don pass 200% increase’

Onuorah say though dem dey consider di way things be for Nigerians so pipo still fit afford to buy bread,

Di increase go follow di different sizes of bread, so di Jumbo size of bread wey be N800 fit increase to N1200 – N1500 and di sliced bread wey be N500 fit increase to N800

Dis na so dat breadmakers go still dey in business as di inflation don drastically reduce dia profit margin.

“If you look at all di increase in di materials, e don reach about 200% increment.”

“Between 2021 and now, we don get material increase of about 155% but we don increase bread price by only 7%.”

“Check di difference in cost of materials and di price of bread, all na make e be say we dey produce bread wey Nigerians fit see bread on top dia table chop.”

“But now things get to change for us to continue di read business,” e tok.

Four things wey go help di bread industry

Why price of bread go soon increase?

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To help di bread making Industry, di PBAN President Emmanuel Onuorah give three things wey go help to include:

  • Make Goment comot di 30% import duty on importation of wheat by millers or reduce am to 15% as oda African countries dey charge zero duty on wheat import to help di millers. Dis go reduce di cost of wheat flour.
  • Make di mainstream and downstream regulatory authority check di price of diesel so e no go just increase anyhow from N350 to N700 as dat na ‘price gorging’ and na small businesses and di masses go suffer am.
  • Make Goment give di bread making industry grants to aid dem through di Bank of Industry wey dey give loans to support and grow dia businesses.
  • Make Goment also check di wheat development levy to make sure e dey used for di proper purpose to promot local production.

Onuorah come tell Nigerians to hold goment to account to check di drastic increase in di price of food items as di inflation rate much.

E come ask for understanding from di public so dem go adjust to di increase in di cost of bread.