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Bakers set to increase prices of bread

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Bakers have warned that they would be left with no option than to increase the prices of bread if government fails to intervene in stabilising the prices of baking ingredients in the market.

The Premium Breadmakers Association of Nigeria (PBAN) and the Association of Master Bakers and Caterers of Nigeria gave this warning on Thursday at a press conference in Lagos.

Tosan Jemide, president of PBAN noted that the price of key ingredients like flour, sugar and other consumables have increased drastically while the price of bread had remained stable.

Jemide 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 the back seat and watch such blatant increases in prices going forward. We shall react with equal price increases or stiff resistance.”

Jemide appealed to the Buhari administration 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.

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