Tag: Bread Price

“Bread no longer affordable”, many FCT residents lament

Aminu Imam

With the continuous increase in the price of bread, many residents of the Federal Capital Territory, (FCT), have lamented that they are struggling to keep up with the cost of the staple food. The residents, who spoke to journalists in Abuja yesterday, pleaded for the Government’s intervention. They expressed concern that bread is slowly becoming a luxury item rather than a basic necessity. Recall that the latest National Bureau of Statistics (NBS) Food Price Report for February 2024 said the average price of 500g sliced bread increased by 89.48 per…

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Prices of bread to increase by 15% July 24 – Bakers alert

Aminu Imam

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.…

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New Forex Regime: Bakers alert on new bread price rise

Aminu Imam

Bread makers have again alerted on a new price hike being stoked up by the rising cost of ingredients triggered by the withdrawal of fuel subsidy and the liberalisation of the foreign exchange (forex) market. The price of bread of any size has been rising for years in line with increasing fuel price which hikes transport costs that lead to increases in the prices of all goods and services. This has happened regularly despite cries from Premium Bread Makers Association of Nigeria (PBMAN) and the Association of Master Bakers and…

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High Production Cost: Over 40 bakeries shut down in Abuja, bakers lament

Aminu Imam

No fewer than forty bakeries have shut down in Abuja, over the high cost of production and multiple taxations. Some of the bakeries that have closed shop are Abumme Bakery Ltd., in Lugbe, Airport Road; Hamdala Bakery, Kuje; Harmony Bite Bakery, Karu; Doweey Delight Bakery Ltd, in Kubwa. Others include Merit Baker, Mpape; Funez Baker, Orozo, and Slyz Bakery, in Wuse Zone-2, among others. The Chairman, Abuja Master Bakers, FCT, Ishaq AbdulRaheem, said bakeries in Abuja could no longer cope with the high cost of production, adding that most members…

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Nigerians to pay more for bread as wheat prices hit record high

Aminu Imam

The global price of wheat, yesterday, reached a record high at €435 ($453) per tonne in the European market. The price of the commodity continued to soar following supply disruptions linked to Russia’s invasion of Ukraine. The Food and Agriculture Organisation (FAO) of the United Nations, (UN), had said both countries accounted for around 30 percent and 20 percent of global wheat and maize exports, respectively. The surge in prices, worsened by fertiliser shortages and poor harvests, has also caused inflation globally and raised fears of famine and social unrest…

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Russia/Ukraine war: Bread scarcity looms as wheat price rises by 68.5%

Aminu Imam

Scarcity of bread and significant rise in its price and other wheat flour-based foods, as well as confectioneries, appear imminent following the surge in the price of wheat to a multi-year high since Russia began a special military operation in Ukraine. Checks revealed that the price of wheat has increased by as much as 68.5 percent in the last 12 days from $752 per bushel on February 22 to $1,267 as of March 4, 2022. The rally in the price of wheat is coming on the heels of investors’ worry…

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Bread price may rise by 200% before December – Survey

Aminu Imam

Prices of bread in some state may rise by 200 per cent before the end of the year, a survey has shown. Price has doubled since August through to October 2021, forcing the product out of reach of many families and lovers of bread. According to a reported survey conducted in Enugu, showed that the price may likely even jump further in November and December, if not controlled. The development has so far been blamed on incessant increases in the prices of baking materials, factory rent and wages, which had…

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Bakers announce 30% increase in price of bread, biscuits

Aminu Imam

The Association of Master Bakers and Caterers of Nigeria, (AMBCN), has instructed its members to increase the price of bread, biscuits, and other items by 30 percent. 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 association, in a statement by its National President, Mansur Umar, at the end of its National Executive Council meeting in Abuja.…

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