See Why Bread & Biscuits Price Would Increase By 30%: Nigerian Bakers. The Association of Master Bakers and Caterers of Nigeria (AMBCN) has announced that bread and biscuits will be increased by 30% nationwide.
The association directed its members nationwide to increase in the cost of production as price of baking materials and ingredients has skyrocketed.
“After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent.”
The association also revealed that the high tariff regime imposed by the National Agency for Food and Drugs Administration and Control (NAFDAC) and other regulating agencies is one of the factors that is causing the increase in cost of production.
“The incessant increase of prices of flour and other baking materials is responsible for the decision. In the last six months, one truck of flour that we used to buy at less than N6m is now N9m,” the statement read.