According to the Nigerian Bread-Makers Association, the difficult business environment caused by rising energy costs and currency fluctuations may lead to an increase in bread prices.
In an interview with Newsmen, the association’s president, Emmanuel Onuorah, called the situation as concerning.
He added that because of the current situation, several of their members had to close their businesses.
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Despite the difficult operating business environment, Onuorah highlighted that the federal government has taken no action to solve the matter.
According to him: “Companies are shutting down their businesses as a result of the increase in the price of diesel. Some of my members shut down (their business premises) again this week. So many other companies are closing down.
“As we speak, operators in the sachet water business segment are on strike. They’ll likely increase the price of sachet water to N25 or N30. We don’t even know where this thing is tending towards. Bigger companies are closing because of operating costs. Businesses are going under.”
The PBAN President stated further that wheat suppliers have indicated the scarcity of the product within the next two weeks which might lead to an increase in the price of bread.
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“Hospitals now have to ration diesel. Energy is the key. We understand that in two weeks time, there will be a scarcity of wheat and the millers will raise their prices to N30,000 or N40,000,” he added.
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