According to the Premium Breadmakers Association of Nigeria (PBAN), recent government measures would likely cause bread prices to increase soon.
The withdrawal of fuel subsidies and the deregulation of the foreign exchange market, according to PBAN President Engr. Emmanuel Onuorah has made it more challenging for bakers to produce.
Due to the fluctuating exchange rate and the loss of the fuel subsidy, the price of imported ingredients has gone up, as have the expenses of delivery and transportation.
In order to develop solutions and lessen the effects of these price increases on both producers and consumers, PBAN is now collaborating with the appropriate authorities.
