Prices of one of the staple food commonly eaten by the masses will skyrocket very soon as a result of many factors which includes, hike in electricity tariffs, increase in petrol pump price, devaluation of naira and lack of access to foreign exchange from the Central Bank of Nigeria (CBN).
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In Osogbo, Osun State capital, SOJ WORLDWIDE ONLINE NEWS reporter went round the city, the report was that bakers refused to produce bread due to high costs of materials on Friday and Saturday.
In Ile-Ife, the bakers have already increased the price of bread by reducing the quantity.
In Ibadan, retail sellers told SOJ WORLDWIDE ONLINE NEWS that bakers will increase the prices of every category of loafs starting from tomorrow, Monday, September 13, 2020.
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Reports gathered from the retailers said baking will continue fully on Monday but with hike in the prices of every staple food made from flowers.
In view of several complaints on the increase in costs of production, The Association of Master Bakers in the Southwest threatened to suspend production of bread in the entire Southwest states comprising, Oyo, Ogun, Ondo, Ekiti, Osun and Lagos.
According to the Southwest Chairman of the association, Alhaji Abolusodun Salawu and the Lagos chairman, Ambassador Raji Omotunde,
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“the last time we increased the price of bread was in the year 2016, but today prices of baking materials has gone up astronomically.”
They revealed that, “since March
“We cannot continue to run our business at a loss. Each time we talked about the cost of flour, sugar, butter, e.t.c. The producers of this products always complain that they do not get foreign exchange directly from the Federal Government hence they are forced to buy dollars in the black market.”
“We, therefore appeal to the government to come to our aid before we finally down tools,” they said.
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