Bakers increase price of BREAD by 20%

Consumers of bread in the country are in for a tough time, as bakers in the country, under the auspices of Association of Master Bakers and Caterers of Nigeria, have announced a 20% increase in the price of the product.

The national chairman of the association, Simeon Abanulor, made the announcement in Sagamu, Ogun State, on Tuesday.

He stated that the decision to increase the price of bread was necessitated by the recent Federal Government’s policy, which increased the levy on importation of wheat by 15 per cent.

He said: “It was unanimously agreed by all members of our association that the price of bread be increased by 20 per cent, due to the recently introduced levy of 15 per cent on importation of wheat.”

He expressed the readiness of the association to reduce the price, “as soon as the prices of flour and other additives are reduced” as a result of the Federal Government’s policy on cassava flour.

He appealed to all consumers of bread in the country “to bear with us and accept the new price in good faith.”