Nigerian bakers plan further increase in price of bread

Nigerian bread makers are facing a new challenge as the cost of wheat flour continues to rise, prompting them to consider further increases in the price of bread. The Premium Breadmakers Association of Nigeria recently announced that they may have to raise prices once again due to the escalating costs of their key ingredients. In a recent interview with CNBC Africa, Emmanuel Onuorah, President of the association, detailed the struggles that bakeries are currently facing in the country. Onuorah highlighted the significant price hikes in essential materials such as flour, sugar, preservatives, and nylon, all of which have surged in cost over a short period of time. This has put immense pressure on the profitability of bakeries, forcing many to operate at a loss. He emphasized that the entire industry is in jeopardy, with businesses hemorrhaging and significant job losses occurring. The association has made several demands to the government, including relief measures for key input materials and the removal of certain levies and penalties that are further burdening the industry. Despite these challenges, there is hope that government intervention and support could help alleviate the financial strain on bread makers and ensure the sustainability of this essential sector. Bread, a staple food in Nigeria, holds immense cultural and economic significance for the population, making it crucial to address the challenges faced by the industry to maintain food security and economic stability.