The Association of Master Bakers and Caterers of Nigeria (AMBCN) has directed its members nationwide to increase the prices of bread, biscuits and other items by 30 per cent due to the devastating economic situation of the country.
The association explained that the adjustment in price was as a result of the sudden increase in the cost of production as well as prices of sugar, butter, yeast and flour.
The directive was part of the resolution reached at the end of the National Executive Council (NEC) meeting of the association in Abuja.
National President of AMBCN, Mansur Umar, who read the resolution, explained: “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 per cent.”
The group urged the Federal Government to intervene and revert the high tariff regime imposed by the National Agency for Food and Drugs Administration and Control (NAFDAC) and streamline regulation by allowing only NAFDAC to regulate bakers.
Besides, the association said it frowned at the incessant increase in the price of flour as it is forcing its members to close their businesses.
While directing members across the country to increase prices of their products to at least 30 percent to cushion the effect of high cost of production, AMBCN called on the Federal Government to take immediate steps towards reducing the high price of flour as it is killing the business.
“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 N6 million is now N9 million,” the association said in a statement.
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