Prices of bread to increase in Lagos by 60 percent

Bakers in Lagos State have called on Federal and State Governments to urgently Intervene in the increasing prices of the baking materials which may lead to corresponding increase in the prices of bread by at least 60% anytime soon.

The Bakers under the aegis of Association of Master Bakers and Caterers of Nigeria, attributed the increase in the prices of baking materials to the COVID-19 Pandemic which is ravaging the world now.

In a statement jointly issued and signed the Chairmen of the Association in Kosofe and Surulere Local Chapters, Comrade Taiwo Akintola and Comrade Ibitoye Oladapo, the body expressed sadness over the current situation the Bakers are battling with.

According to the Association, the high cost of baking materials is killing the bakery businesses as many bakeries are finding it difficult to make profits.

"A bag of flour that cost #9,000 before COVID-19 is now #13,000 while the bag of sugar is now #24,000 as against #13,000 before. Butter is now #12,000 as against #7,500 that it was before COVID-19 Pandemic. 

Milk which was hitherto sold at #29,000 is now #52,000. There is increase in the bread packaging cost which is now #12,000 as against the former price of #10,000", the Bakers said.

The cost of salt, yeast diesel and other raw materials for baking has also skyrocketed.

" We are appealing to the Federal Government to talk to the Flour Millers and other Manufacturers of raw materials for baking to reduce the prices of their products. If we are suppose to follow the trend of increase in the cost of raw materials for our production, the price of bread will increase by minimum of 60%", the Bakers explained.