Bread bakers have warned that prices of their products might likely increase by 60 per cent, if the Federal Government did not intervene in the regulation of prices of baking materials in the country.
The bakers, in a statement on Wednesday signed by the Chairmen, Association of Master Bakers and Caterers of Nigeria, Lagos Chapter, Taiwo Akintola and Ibitoye Oladapo, decried the increase caused by the COVID-19 pandemic in the country.
The group said: “A bag of flour that costs N9,000 before COVID-19, now goes for N13,000, while a bag of sugar now costs N24, 000 as against the former price of N13,000.
“Butter is now N12,000 against N7,500, while milk, which was hitherto N29,000, now goes for N52,000.
“And there is an increase in the Bread packaging cost which is now N12, 000 against the former price of N10,000,” the bakers disclosed.
The group also lamented that their effort to persuade the flour millers and other people involved in the selling of baking materials to reduce their prices yielded no results.
“And that is why we are pleading with Federal Government to intervene in this matter by talking to flour millers and baking material sellers to bring the prices down.
“Master bakers association is one of the largest employers of labour in the country and most of the bakeries are folding up, many Nigerians working in the bakery sector are already losing their jobs,” the group added.
While appealing to both federal and state governments to quickly come in and address the situation for the benefit of all, the association maintained that “If we are supposed to follow the trend of increase in the prices of raw materials for our production, the prices of bread may increase by 60per cent,” the bakers said.