“A bag of flour that costs N9,000 before COVID-19, now goes for N13,000, while a bag of sugar now costs N24, 000 as against the former price of N13,000.”
Lagos State Bakers have said the price of bread may go up by 60 per cent if no urgent intervention from government to halt the rising prices of baking materials attributed to the COVID-19 pandemic currently ravaging the world.
In a statement jointly by the Chairmen, Association of Master Bakers and Caterers of Nigeria, Kosofe and Surulere local chapters, Comrade Taiwo Akintola and Comrade Ibitoye Oladapo, the high cost of baking materials is killing their businesses, as many bakers are finding it difficult to make profits due to the high cost of materials.
The association also explained that the instability of foreign exchange, high cost of diesel and other baking materials were reasons given by flour millers for the hike in the prices of baking materials, stressing that the association have appealed to flour millers and others involved in the selling of baking materials to reduce their prices, but yet to yield favourable response.
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