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 (NEC) meeting in Abuja. explained that “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.”
It 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 Bakers 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,” the association said in a statement.
Meanwhile, the Accountant General of the Federation Ahmed Idris has recanted his words, noting that the federal government is yet to return the Ibori loot to the Delta State government.
The Accountant General backtracked in a statement from the Office of the Accountant General of the Federation (OAGF) on Wednesday signed by the Director (Information, Press and Public Relations), Henshaw Ogubike.
The article was originally published on Nigeria News