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Wednesday, October 12, 2016

Nigeria Increases Bread Price


Nigerians to pay 15% more for
bread, biscuits
The Association of Master Bakers and Caterers of
Nigeria, AMBCON, say they have been forced by the
tough 5 crunch to increase the prices of
bread, biscuits and other related commodities.
The increase of at least 15%, according to the group
will take effect from the 17 th of this October.
While blaming the development on the high cost of
production, the association in a communique after
its enlarged joint meeting of the South-South and
South-East geo political zones held in Asaba, also
decried that Nigeria’s economic recession was
taking a more dangerous twist.

The communique was co-signed by chairman of the
Joint Zonal Council, Sir Hilary Eze, Secretary, Elder
Akpan Jude and 12 others from the zones, including
Enugu, Anambra, Edo, Ebonyi, Cross River, Delta
and Akwa-Ibom States.
It stated that “the adjustment of price is as a result
of the sudden increase in the prices of sugar from
N7,000 to N19,000, butter from N4,200 to N12,000,
yeast from N10,500 to N17,000 and flour from
N9,700 to N12,000.
“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 15 per cent.”
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