Wednesday, June 29, 2022

Price of bread increases by over 50%

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Rayyan Alhassanhttps://dailynigerian.com/author/rayyan/
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or www.facebook.com/RayyanAlhassan, or @Rayyan88 on Twitter.
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The price of bread, a staple food has increased in Benin, the News Agency of Nigeria reports.

Investigations by NAN reveals that the increment was due to the rising cost of wheat flour, which was the major ingredient used in the production of bread.

According NAN investigations, the price of bread is likely to continue to increase in Nigeria over the coming weeks.

This is due to the global wheat value chain disruptions caused by the ongoing Russia/Ukraine war.

NAN checks with some bread sellers on Thursday in Benin saw that a small loaf of bread that was sold for N120 in November 2021, now sells for N180.

“A medium-sized bread that sold for N300 seven months ago, now sells for N450, while a big-size bread now sells for N850, as against N500 it was being sold in November 2021.

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Some residents in the city have expressed concern over the incessant increment, calling for the Federal Government’s intervention.

Mr Benjamin Agbonze, the chairman, Association of Master Bakers and Caterers of Nigeria, Edo chapter urged the Federal Government to implement policies that would promote local production of raw materials used for baking bread.

Agbonze also urged the government to address the high cost of producing goods and services in the country.

“We are not breaking even, we are hoping that everything will get better, but the costs of raw materials are escalating every day.

“We have retrenched many of our workers and now seeking for alternative sources of livelihood for us to survive.

“The last time we increased the price of bread, a bag of flour was N17,000, but it has gone up to N27,000.

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“A bag of sugar that was sold for N18,000 has gone up to N29,000, while the quantity of butter we were buying for N14,000 now goes for N20,000.

“The government should do something. There is poor power supply, diesel is very expensive and importers of wheat flour don’t have access to forex,’’ he said.

A petty trader, Mrs Stella Osazuwa, said that she had stopped selling bread due to poor sales.

“I used to sell between 15 and 20 loaves of bread in two days that was when the price of a small loaf of bread was being sold for between N100 and N120.

“However, sales began to drop when the price went up to N150, I find it difficult to sell five loaves of bread in two days.

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“Bread is perishable and nobody wants to buy a loaf that has gone bad, so, I had to stop sales to prevent wastage.’’

Mrs Obehi Osazee, a mother of four, said that the incessant hike in the price of the commodity had made her to look for a substitute for her family.

“There is no perfect substitute for bread, but I can’t continue to buy bread the way the price is increasing every day.

“Before now, I used to buy bread every day for my children, but I reduced that to twice a week, imagine spending about N5,000 for bread a week, as against N3,000 I used to spend.

“I now buy pap, though it is not cheap, but it is cheaper than bread,’’ she said.

NAN

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