Bakers have vowed to react to price increase in baking ingredients by increasing the prices of bread.
The Premium Breadmakers Association of Nigeria and the Association of Master Bakers and Caterers of Nigeria gave this warning on Thursday at a press conference in Lagos.
The President, PBAN, Tosan Jemide, complained that businesses had been comatose due to the incessant increase in the prices of baking ingredients.
He noted that in the last six months, the prices of flour, sugar and other baking ingredients had skyrocketed without a corresponding increase in the prices of bread by member bakeries.
Jemide said, “We have been busy helping them remain profitable while our businesses suffer, because we are more in tune with the purchasing power of the consumer and are deeply concerned about food security.
“PBAN and AMBCN shall no longer take seat and watch such blatant increases in prices going forward. We shall react with equal price increases or stiff resistance.”