After weeks of warning, Lagos bakeries have finally raised the price of bread, Nigerians’ favorite staple, by 30 percent.
The Association of Master Bakers and Caterers of Nigeria (AMBCN) had in May warned Nigerians of price change due to the increase in production cost.
The association also cited the increase in prices of sugar, butter, yeast and flour, and other baking materials.
One of the bakers, who conspicuously displayed a notice sign announcing the pricing adjustments, told the media that his new prices are merely temporary and may increase further in the future.
According to him, the cost of producing bread is becoming unsustainable in the country because of the instability of prices of raw materials.
Investigations across various markets in Lagos revealed that a loaf of bread that sold for N250 increased by 25 percent to sell for N300, while those sold for N300 and N350 now sell for N350 and 400, respectively.
