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Defying the intensity of the afternoon sun, Kazeem Ariyo walked briskly out of the premises of his bakery with palpable anger. He had just been informed that one of his retail vendors rejected hundreds of loaves of bread supply because the retail price offered was not “profitable”.
Mr Ariyo, 45, is a baker operating from the Ajah axis of Lagos. In recent times, however, he has had tough times convincing his wholesale and retail vendors about the rising prices of baking materials.
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This is coming for the second time in one year. The first price review was done last year in the wake of the COVID-19 pandemic, which disrupted economic activities. x
Though the development has been attributed to incessant increases in prices of baking materials, which has made it difficult for the bakers to break even, there are fears that the new development will further aggravate the hardship in the country, especially for lovers of bread.
According to reports, due to the skyrocketing price of foodstuffs, especially rice, yam, beans, garri and other staple foods, the majority of Nigerians have found solace in bread, which is not only a cheaper alternative but can be consumed any time.