In recent times in Nigeria, there has been an upward consistent increase in bread prices and this has led to a lot of individuals forsaking the commodity altogether because of its unaffordability.
The Chairman of the Bakers and Caterers Association in Rivers State has disclosed that from 27 June 2022 the price of bread would be skyrocketed to about 20%. What this new declaration means is that the big loaf of bread that weighs 1.5kg and that was sold for N800 naira to retailers, who in turn would top N100 to the price and sell it for N900 to retailers who in turn would sell N1000 to consumers.
Sliced bread is not exempted from the price hike as a 750g sliced bread would be topped with N50, and the smaller versions of the bread loaves which used to go for about N130 would go for N150 for retailers to resell.
It is no news in Nigeria that this would not be the first time the cost of bread has dramatically increased. Reports have it that this increase is because of the cost of raw materials required for bread making. Also, the price of diesel is an added factor as a lot of Bakeries in Nigeria require the commodity to power their factories.
However, there might be a silver lining on the horizon as bread makers are now seeking alternatives such as cassava and sweet potatoes which will considerably reduce the price of production and equally improve bread quality. Unfortunately, there is no political backing to pursue that alternative.
