Bakers under the Association of Master Bakers & Caterers of Nigeria (AMBCN), has announced that it will be increasing the prices of bread by 15% effective July 24.
The association said that the decision was taken due to the “multifarious increases” in the prices of baking materials, including flour, sugar, yeast, vegetable oil, twist tie, petrol, diesel, and multiple taxations from federal and state agencies.
According to the AMBCN, the recent increases in the cost of production have made it “impossible” for bakers to continue to operate at a profit.
The association said the price increase is necessary to “ensure that we can continue to produce standard baked products in accordance with NAFDAC regulation”.
