Bread Makers Lament Over the Rising Cost of Baking Items

As the unwavering macroeconomic challenges continue to cripple the nation's economy, breadmakers are also lamenting over the shortage of foreign exchange and the high cost of baking items that have led to the hike in the price of bread witnessed recently.

Breadmakers, under the auspices of the Premium Breadmakers Association of Nigeria (PBAN), made this announcement in Lagos on Monday during a courtesy visit to stakeholders in the baking industry.

It was reported that the high levy on raw materials imported for bread production was also one of the major causes of the hike in the price of bread.

Speaking on the issue, the president of PBAN, Engr. Emmanuel Onuorah, advises the Federal Government to make favourable and implementable policies that will encourage and promote baking in the country.

He said that the government should suspend levies imposed on wheat and other baking materials to encourage investors' survival in the country.

Engr. Onuorah also spoke at Lesaffre Africa BA Nigeria Distribution Ltd., where Ajah also lamented the lack of foreign exchange on raw materials by Nigerian banks to manufacturers.

He also encouraged the French company to establish their production factory in Nigeria instead of importing raw materials from other countries.

He also added that setting up the raw material company will create employment for many Nigerians.

He said,

• The federal government policy on the importation of raw materials is suffocating us and will kill our businesses. The baking industry will fold up if the government fails to remove the levy placed on wheat. The resultant effect of this is that Nigerians will die of hunger from the high levies placed on bread-making products.

• And if bread, which is the easiest food for the common man in the country, becomes extremely unaffordable to buy, how do the people survive?

• For the players in the industry to survive the quagmire, the government should remove the levy placed on the importation of flour, wheat, yeast, and other baking materials. If flour and wheat are cheaper, the cost of bread will also come down, or else Nigerians may die of hunger.

In addition to the Onuorah comment, the chief operating officer of Lesaffre BA Nigeria Distribution, Johnny Halabi, called on the federal government to reduce its high reliance on foreign exchange for the importation of raw materials to the country.

Halabi said that the government needs to revamp the refineries, make Naira stronger, and make business operations easier.