As prices of food items continue to go through the roof, bread, a key staple in the Nigerian diet, has become a luxury for most households.
BusinessDay survey across markets in Benin city shows that the price of a small loaf of bread now sells for N150, while the medium size sells for N400 while the big size goes for N800 as against N120, N300 and N500 sold last year respectively.
Speaking with BusinessDay on Tuesday in Benin City, Benjamin Agbonze, Edo State Chairman, Association of Master Bakers and Caterers of Nigeria, pointed out that the rising prices is connected to the increase in raw materials for processing bread which he said are mainly imported.
“This is as a result of the continuous increase in raw materials which is tied to foreign exchange. Most of the things are foreign materials and more than 90 percent of bread processing materials are imported. So, when the naira crashes, the prices go up.
“The price increase started last week. A month ago, the small bread was N150, super bread was sold at N350 while the big one was N700,” he said.
Read also: Nigerians pay most for food since 1999
Lamenting, Agbonze said the production rate of almost all the bakeries has reduced to about 50 percent, saying “that the situation is horrible; people that used to produce 10 bags before can only produce three or four bags now.
“The truth of the matter is that we feel very bad. As I speak with you, we are struggling to bake because we are not making profits. Today, so many bakeries are selling their equipment because they can no longer cope. There is massive downsizing of bakery workers.”
On the government’s intervention, he said: “As we speak, the Federal Government through the ministry of trade and investment, and the agricultural ministry are engaging our national body but we are still waiting for them because we have not received any positive outcome yet.
“It is affecting us seriously. We are just hoping it will be better tomorrow. We are trying to manage the situation to bake pending when the government takes the right decision so that we can continue fully with our business.”
Tony Osauzo, an inhabitant of Edo State, who expressed concern over the rising cost of food items, said “So many families like to take bread for breakfast but the way we are going it appears things are going out of hand. We heard that the increase was as a result of an increase of inputs.”
Lucky Osaigbovo, another resident, said he no longer buys the big size because of the price increase, adding that “this time around I have warned my kids to stop wasting it, I give them moderate amounts so as to minimize waste.”
