The Chairman of Association of Master Bakers and Caterers of Nigeria (AMBCN) Abuja Chapter, Ishaq Abdulraheem has lamented that over 20 of their members in Abuja have stopped business because of astronomical increase in Bakery inputs in recent months.
He made this disclosure news men, in Abuja on 9th September, 2021 during the National Executive Meeting of AMBCN.
Bakery business has been facing a lot of challenges that are affecting bakers drastically. One of such problems is the cost of baking inputs. Cost of major bakery input have gone up drastically that it is becoming very hard for and average baker to make product. For example, the price of a bag of 50kg flour used to be N15,000,
(Fifteen thousand naira) a few months ago, it now goes for N21,000. Also, the price of sugar used to be N18,000 and it now costs N21,500.00. Yeast which used to cost N14,000, is now N20,000.00.
The chairman Said that one of the greatest problems is NAFDAC tariff regime. He revealed that instead of NAFDAC reviewing the tariff downward they increased it by 100%.
He lamented that most of their members are now advertising on social media that they want to sell some of their equipment. He called on the government to give bail out to their members so that they will not pull out of the business.