The price of bread, biscuits, butter, flour and other bakery items is set to see a 30 percent increase.
The Association of Master Bakers and Caterers of Nigeria (AMBCN) on Wednesday, instructed its members to increase the price of the aforementioned items by 30%.
National President of AMBCN, Mansur Umar gave the directive in a statement issued at the end of its National Executive Council (NEC) meeting in Abuja.
Explaining the reason for the price increase, the association of master bakers said the increase in prices of costs of production including sugar, butter, yeast, and flour as well as worsening economic situations in the country is responsible for the directive.
The statement read; “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.”
Umar also appealed to the federal government to allow only the National Agency for Food and Drugs Administration and Control (NAFDAC) be the only agency responsible for regulating the affairs of its members.
The Master Baker also lamented the high tariff its members have to pay and its negative impact on the final cost of products.
It, therefore, appealed to the government to intervene and reduce the tariffs.
“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,” it said.