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The bread producers said the increase in price of bakery materials has rendered the business non-profitable. | Pulse Nigeria

Nigerian manufacturers battling stunted growth blame forex scarcity The manufacturing sector has seen woeful growth in the last five years, and a key problem is businesses can't find the dollars to import raw materials. 7 min read 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. I...

The winning school, now a second-time winner, having won the previous edition in June 2019, left with a trophy and a certificate, just as all the other contestants were given medals and branded AfriGrowth Foundation school bags and exercise books. The winner, Master Umar, thanked the foundation and his school for the opportunity given him to compete and win the contest. A teacher from the winning school, Mrs Egugwu C. Obinne, commended AfriGrowth Foundation for organising the competition, saying her school’s library, which the foundation established in March 2017, had indeed added value to ...

  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 an...

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 r...